Credo Technology Group (NASDAQ:CRDO) Coverage Initiated at Rosenblatt Securities

Analysts at Rosenblatt Securities assumed coverage on shares of Credo Technology Group (NASDAQ:CRDO) in a report issued on Wednesday, Marketbeat.com reports. The firm set a “neutral” rating and a $170.00 price target on the stock. Rosenblatt Securities’ price target points to a potential upside of 25.83% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Credo Technology Group in a research note on Friday, October 17th. They issued an “overweight” rating and a $165.00 price target for the company. Roth Mkm lifted their price objective on Credo Technology Group from $170.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Wolfe Research set a $240.00 target price on Credo Technology Group in a research report on Tuesday, December 2nd. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a research note on Wednesday, October 1st. Finally, Needham & Company LLC lifted their price target on Credo Technology Group from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $216.54.

Credo Technology Group Stock Performance

CRDO opened at $135.10 on Wednesday. The stock has a market capitalization of $24.40 billion, a PE ratio of 118.51 and a beta of 2.66. The stock’s 50 day moving average price is $151.81 and its 200-day moving average price is $140.19. Credo Technology Group has a 52-week low of $29.09 and a 52-week high of $213.80.

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

Insiders Place Their Bets

In related news, CEO William Joseph Brennan sold 9,476 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $139.54, for a total value of $1,322,281.04. Following the transaction, the chief executive officer owned 270,641 shares in the company, valued at $37,765,245.14. The trade was a 3.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 2,200 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $159.18, for a total transaction of $350,196.00. Following the sale, the director directly owned 18,545 shares in the company, valued at $2,951,993.10. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 995,476 shares of company stock valued at $154,189,463. Company insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRDO. Vanguard Group Inc. grew its holdings in shares of Credo Technology Group by 0.9% during the third quarter. Vanguard Group Inc. now owns 16,525,380 shares of the company’s stock valued at $2,406,261,000 after buying an additional 150,012 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Credo Technology Group by 18.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock valued at $1,121,118,000 after acquiring an additional 1,190,522 shares in the last quarter. Geode Capital Management LLC boosted its stake in Credo Technology Group by 4.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock valued at $334,740,000 after purchasing an additional 163,305 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Credo Technology Group by 66.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after purchasing an additional 1,218,504 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Credo Technology Group by 161.5% in the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $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.

More Credo Technology Group News

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

• Positive Sentiment: Strong fundamental print and continued bullish analyst targets: Credo reported a blowout quarter (revenue up ~272% YoY, EPS beat) and several firms have lifted price targets (Bank of America and Wolfe to $240, Needham to $220), supporting a constructive medium‑term view. Article Title
• Positive Sentiment: Headline buy-the-dip narratives: Two recent pieces argue the recent pullback is a clean entry for growth investors given Credo’s data‑center positioning and revenue momentum, which can attract bargain hunters and retail flows. Credo Just Pulled Back—This Might Be the Cleanest Entry Point MSN Copy
• Neutral Sentiment: New coverage from Rosenblatt: Rosenblatt initiated coverage with a Neutral rating and a $170 price target — neither a strong buy signal nor a downgrade, but it provides an independent reference point for investors. Rosenblatt Initiates Coverage
• Neutral Sentiment: Analyst roundup and ETF/connectivity coverage: Industry articles summarize mixed analyst views and discuss Credo’s fit in connectivity/ETF themes — useful context but less immediately catalytic than earnings or insider moves. Where Credo Stands With Analysts Connectivity Trends
• Negative Sentiment: Significant insider selling: Credo’s CTO has sold multiple large blocks across December and January (most recently 30,000 shares), which may spook investors and create short‑term selling pressure despite the executive retaining a large stake. Insider Filing

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.