Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives $212.69 Consensus Target Price from Brokerages

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) have earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $209.2857.

Several brokerages recently commented on CRDO. Zacks Research downgraded shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. KGI Securities raised shares of Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 price objective for the company in a research note on Tuesday, December 2nd. Barclays restated an “overweight” rating and set a $260.00 price target on shares of Credo Technology Group in a report on Thursday, January 15th. Mizuho increased their price objective on Credo Technology Group from $165.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Finally, TD Cowen reissued a “buy” rating on shares of Credo Technology Group in a research note on Tuesday, December 2nd.

Credo Technology Group Trading Down 2.6%

NASDAQ CRDO opened at $120.83 on Wednesday. The firm has a market cap of $21.83 billion, a PE ratio of 105.99 and a beta of 2.65. Credo Technology Group has a 1-year low of $29.09 and a 1-year high of $213.80. The stock has a 50-day moving average of $135.24 and a 200-day moving average of $143.70.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Monday, December 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.18. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The business had revenue of $268.03 million for the quarter, compared to analyst estimates of $234.99 million. During the same period last year, the company earned $0.07 EPS. Credo Technology Group’s revenue for the quarter was up 272.1% compared to the same quarter last year. As a group, equities research analysts forecast that Credo Technology Group will post 0.13 earnings per share for the current fiscal year.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: PCI-SIG compliance for the Toucan PCIe 6.0 retimer reduces customer integration risk and strengthens Credo’s positioning in AI and hyperscale data centers; this technical validation supports revenue upside from next‑generation PCIe deployments. How PCI-SIG Compliance for Toucan PCIe 6.0 Retimer At Credo Technology Group (CRDO) Has Changed Its Investment Story
• Positive Sentiment: Goldman Sachs initiated coverage with a Buy rating and a $165 price target, bringing institutional visibility and likely encouraging investor demand and buy-side interest. Goldman Sachs Initiates Coverage of Credo Technology Group Holding Ltd (CRDO) Stock
• Positive Sentiment: Wall Street previews and Zacks note that Credo looks set to report strong quarter-over-quarter revenue and EPS growth next week, increasing the chance of an earnings beat that could re‑rate the stock if results and guidance impress. Credo Technology Group Holding Ltd. (CRDO) Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Several sector/company earnings previews (Warner Bros. Discovery, AvePoint, Photronics) in the newsfeed may shift broader tech/semiconductor sentiment intraday but are not directly tied to Credo’s fundamentals. WBD Gears Up to Report Q4 Earnings: How to Play the Stock AvePoint to Report Q4 Earnings: What’s in the Cards for the Stock? Photronics to Report Q1 Earnings: What’s in the Cards for the Stock?
• Negative Sentiment: Near-term downside drivers: the stock trades beneath its 50- and 200-day moving averages and carries a high P/E, which can prompt profit‑taking and heightened volatility ahead of the earnings release; today’s lighter-than-average volume also suggests weaker buying support. (No article link.)

Insider Activity

In related news, CEO William Joseph Brennan sold 18,016 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $127.69, for a total value of $2,300,463.04. Following the completion of the transaction, the chief executive officer directly owned 252,625 shares of the company’s stock, valued at $32,257,686.25. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $127.37, for a total value of $3,502,675.00. Following the transaction, the chief technology officer owned 6,299,870 shares in the company, valued at $802,414,441.90. This trade represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 917,976 shares of company stock worth $136,567,647. 11.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC boosted its position in shares of Credo Technology Group by 239,024.5% in the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after purchasing an additional 3,597,318 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Credo Technology Group by 36.5% during the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock valued at $602,662,000 after acquiring an additional 1,739,844 shares in the last quarter. Amundi boosted its stake in Credo Technology Group by 28,478.2% in the 4th quarter. Amundi now owns 1,559,796 shares of the company’s stock worth $224,439,000 after purchasing an additional 1,554,338 shares in the last quarter. Janus Henderson Group PLC grew its position in Credo Technology Group by 841.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company’s stock valued at $228,979,000 after purchasing an additional 1,422,391 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after purchasing an additional 1,406,752 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

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.