Credo Technology Group (NASDAQ:CRDO) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Credo Technology Group (NASDAQ:CRDO) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also recently issued reports on CRDO. KGI Securities raised shares of Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 target price on the stock in a research report on Tuesday, December 2nd. Wolfe Research set a $240.00 price target on shares of Credo Technology Group in a report on Tuesday, December 2nd. Susquehanna lowered their price objective on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research note on Tuesday. TD Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Finally, The Goldman Sachs Group set a $165.00 target price on Credo Technology Group and gave the company a “buy” rating in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $206.33.

Credo Technology Group Stock Up 8.6%

Shares of NASDAQ:CRDO traded up $8.83 during midday trading on Tuesday, reaching $111.37. The company’s stock had a trading volume of 7,789,590 shares, compared to its average volume of 7,203,049. The firm has a market cap of $20.12 billion, a price-to-earnings ratio of 61.60 and a beta of 2.67. The business has a 50 day moving average price of $131.11 and a 200 day moving average price of $143.15. Credo Technology Group has a 1 year low of $29.09 and a 1 year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The firm had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a return on equity of 37.17% and a net margin of 31.81%.The firm’s quarterly revenue was up 201.5% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Sell-side analysts anticipate that Credo Technology Group will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Daniel W. Fleming sold 3,902 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $140.15, for a total value of $546,865.30. Following the completion of the sale, the chief financial officer directly owned 446,178 shares in the company, valued at approximately $62,531,846.70. This represents a 0.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 2,200 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $159.18, for a total value of $350,196.00. Following the transaction, the director owned 18,545 shares in the company, valued at approximately $2,951,993.10. This represents a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 917,976 shares of company stock worth $136,567,647 in the last quarter. Insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of CRDO. Atlantic Union Bankshares Corp purchased a new stake in shares of Credo Technology Group during the third quarter valued at approximately $25,000. Crewe Advisors LLC increased its stake in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after buying an additional 106 shares during the period. Reflection Asset Management purchased a new stake in Credo Technology Group during the 4th quarter worth $25,000. Acumen Wealth Advisors LLC acquired a new position in Credo Technology Group in the 4th quarter worth $25,000. Finally, First Horizon Corp purchased a new position in Credo Technology Group in the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Key Credo Technology Group News

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Zacks and other services report upward revisions to earnings estimates and model momentum, supporting renewed buy-side interest. Read More.
• Positive Sentiment: Analysts’ consensus price targets imply substantial upside, which can attract momentum buyers and re-rating conversations. Read More.
• Positive Sentiment: Zacks upgraded Credo from Hold to Strong‑Buy and several firms (Needham, Bank of America, William Blair) have reiterated Buy ratings — these calls likely helped the rebound. Read More. • Read More.
• Positive Sentiment: Strategic M&A and partnerships: the CoMira acquisition and a TensorWave collaboration expand Credo’s optical/IP footprint for AI data centers — a clear fundamental reason investors may be bidding the stock back up. Read More. • Read More.
• Neutral Sentiment: Some commentary frames the recent pullback as a buying opportunity after the post‑earnings selloff — useful for investors weighing re‑entry vs. further volatility. Read More.
• Negative Sentiment: Several brokers (Rosenblatt, Susquehanna, Mizuho) lowered expectations or cut price targets, contributing to an earlier sharp selloff and adding downside risk if guidance or end‑market demand disappoints. Read More. • Read More. • Read More.
• Negative Sentiment: Earnings‑day dynamics: despite a clear beat and raised guide, the stock experienced a sector‑wide “AI trade hangover” and steep intraday declines (reports of ~10–15% drops), reflecting profit‑taking and concerns around optical vs. copper AEC transitions. Read More. • Read More.

About Credo Technology Group

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.