TD Cowen assumed coverage on shares of Credo Technology Group (NASDAQ:CRDO – Free Report) in a research report sent to investors on Wednesday morning. The firm issued a buy rating and a $170.00 target price on the stock.
Several other equities analysts have also recently weighed in on the company. Cowen reiterated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Barclays upped their target price on shares of Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Noble Financial raised shares of Credo Technology Group to a “strong-buy” rating in a report on Tuesday, June 3rd. Finally, Susquehanna upped their price target on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $128.55.
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Credo Technology Group Stock Performance
CRDO stock opened at $144.91 on Wednesday. Credo Technology Group has a fifty-two week low of $29.09 and a fifty-two week high of $176.70. The stock has a fifty day moving average of $131.38 and a 200-day moving average of $86.69. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 216.28 and a beta of 2.60.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last issued its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.Credo Technology Group’s revenue for the quarter was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts predict that Credo Technology Group will post 0.13 EPS for the current year.
Insider Buying and Selling
In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of Credo Technology Group stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the transaction, the chief executive officer directly owned 2,061,978 shares of the company’s stock, valued at approximately $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the completion of the sale, the chief technology officer directly owned 7,328,961 shares of the company’s stock, valued at $673,824,674.34. This trade represents a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 798,915 shares of company stock worth $99,967,495 over the last quarter. Company insiders own 11.84% of the company’s stock.
Institutional Investors Weigh In On Credo Technology Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. Operose Advisors LLC grew its position in Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after acquiring an additional 252 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Credo Technology Group during the first quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credo Technology Group in the first quarter worth $27,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Credo Technology Group during the 2nd quarter valued at $27,000. Finally, Harbour Investments Inc. purchased a new stake in Credo Technology Group during the 1st quarter valued at $29,000. Institutional investors own 80.46% of the company’s stock.
About Credo Technology Group
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Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.
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