Stifel Nicolaus Issues Pessimistic Forecast for Credo Technology Group (NASDAQ:CRDO) Stock Price

Credo Technology Group (NASDAQ:CRDO) had its price target reduced by investment analysts at Stifel Nicolaus from $350.00 to $310.00 in a research note issued on Monday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 40.38% from the stock’s previous close.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 2nd. Susquehanna boosted their price target on Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Barclays increased their price target on Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Evercore set a $292.00 price target on Credo Technology Group in a report on Wednesday, September 2nd. Finally, TD Cowen lifted their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group currently has a consensus rating of “Moderate Buy” and an average price target of $262.67.

Credo Technology Group Trading Up 3.9%

NASDAQ CRDO opened at $220.83 on Monday. Credo Technology Group has a 52 week low of $86.49 and a 52 week high of $308.67. The stock has a market cap of $41.51 billion, a price-to-earnings ratio of 78.59, a price-to-earnings-growth ratio of 0.85 and a beta of 3.25. The company has a 50-day moving average price of $207.87 and a two-hundred day moving average price of $200.19.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. Credo Technology Group’s revenue was up 114.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. As a group, equities research analysts expect that Credo Technology Group will post 5.02 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, COO Yat Lam sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $205.22, for a total value of $10,261,000.00. Following the completion of the sale, the chief operating officer directly owned 2,254,169 shares in the company, valued at $462,600,562.18. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Brennan sold 16,672 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $151.88, for a total value of $2,532,143.36. Following the transaction, the chief executive officer directly owned 1,600,830 shares of the company’s stock, valued at approximately $243,134,060.40. The trade was a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,876 shares of company stock worth $80,921,428 in the last three months. 9.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its holdings in shares of Credo Technology Group by 2.2% in the first quarter. California State Teachers Retirement System now owns 240,886 shares of the company’s stock valued at $22,612,000 after purchasing an additional 5,113 shares in the last quarter. Corsair Capital Management L.P. purchased a new position in shares of Credo Technology Group during the first quarter valued at $469,000. Lazard Asset Management LLC raised its position in Credo Technology Group by 55.6% during the first quarter. Lazard Asset Management LLC now owns 67,051 shares of the company’s stock valued at $6,294,000 after buying an additional 23,949 shares during the period. Quantinno Capital Management LP raised its position in Credo Technology Group by 68.4% during the first quarter. Quantinno Capital Management LP now owns 34,124 shares of the company’s stock valued at $3,203,000 after buying an additional 13,859 shares during the period. Finally, Estuary Capital Management LP lifted its stake in Credo Technology Group by 87.4% in the 1st quarter. Estuary Capital Management LP now owns 412,227 shares of the company’s stock worth $38,696,000 after acquiring an additional 192,218 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo’s active electrical cables connect GPUs and switches in AI data centers, positioning the company to benefit from continued hyperscaler infrastructure spending. Analysts and commentators also highlight the company’s expanding optical-connectivity portfolio and potential shift from copper to optical products. One Semiconductor Stock With a Potential 200% Upside The Transformation From Copper To Optical Is A Major Opportunity Still Under-Appreciated
• Positive Sentiment: The company’s latest quarterly results remain a major growth driver: revenue rose 114.7% year over year to $479 million, exceeding the $473.3 million consensus estimate, while earnings per share also topped expectations. The results marked Credo’s seventh consecutive quarter of triple-digit revenue growth. Credo Grew Revenue 114.70%
• Positive Sentiment: Stifel Nicolaus maintained a “buy” rating and set a $310 price target, implying meaningful upside from recent levels. The firm lowered its target from $350, but the revised view still reflects confidence in Credo’s long-term AI connectivity opportunity. Credo Given New $310 Price Target at Stifel Nicolaus
• Neutral Sentiment: Investor sentiment is mixed because CRDO trades at a premium valuation, with a reported price-to-earnings ratio near 79. Strong margins and AI demand support the premium, but execution risks and high expectations could increase volatility. Credo Stock at a Premium Valuation
• Negative Sentiment: Insider James Laufman sold 5,000 shares for approximately $1.03 million, reducing his direct position by 2.95%. He still retains a substantial stake, but the sale contributed to near-term selling pressure and investor caution. James Laufman Insider Transactions

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.