Credo Technology Group (NASDAQ:CRDO) Earns “Buy” Rating from Needham & Company LLC

Credo Technology Group (NASDAQ:CRDO)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $220.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 71.34% from the company’s previous close.

Several other research analysts have also weighed in on the company. Roth Mkm dropped their price target on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. started coverage on Credo Technology Group in a report on Friday, October 17th. They issued an “overweight” rating and a $165.00 target price on the stock. Mizuho increased their price target on shares of Credo Technology Group from $165.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd. Susquehanna boosted their price objective on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Finally, New Street Research set a $240.00 price objective on shares of Credo Technology Group in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.69.

Credo Technology Group Trading Down 4.7%

CRDO stock opened at $128.40 on Tuesday. Credo Technology Group has a one year low of $29.09 and a one year high of $213.80. The firm has a 50-day moving average of $141.79 and a two-hundred day moving average of $142.82. The firm has a market capitalization of $23.19 billion, a PE ratio of 112.63 and a beta of 2.65.

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

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $153.16, for a total value of $7,658,000.00. Following the completion of the sale, the chief executive officer directly owned 1,892,502 shares in the company, valued at $289,855,606.32. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $174.70, for a total transaction of $9,608,500.00. Following the transaction, the chief technology officer owned 6,613,961 shares in the company, valued at $1,155,458,986.70. This represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 917,976 shares of company stock valued at $136,567,647. 11.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Credo Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its holdings in Credo Technology Group by 128.4% in the 1st quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock worth $284,000 after purchasing an additional 3,972 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after buying an additional 589,151 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Credo Technology Group by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock worth $12,480,000 after buying an additional 7,107 shares during the period. Truist Financial Corp bought a new stake in shares of Credo Technology Group during the 2nd quarter worth $328,000. Finally, US Bancorp DE grew its stake in Credo Technology Group by 61.7% in the 2nd quarter. US Bancorp DE now owns 6,422 shares of the company’s stock valued at $595,000 after buying an additional 2,451 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Preliminary Q3 revenue beat and raised outlook — Credo disclosed preliminary Q3 results that materially beat prior guidance and the company has pushed its fiscal outlook much higher, pointing to multi‑hundred percent revenue growth driven by AI/data‑center demand. Credo Technology (CRDO) Climbs 9% as Firm Eyes ‘More-Than-Triple’ Revenue Growth in Next 2 Years
• Positive Sentiment: Analyst support and upgrades — Needham reaffirmed a Buy and set a $220 price target; several research pieces (including upgrades on Seeking Alpha and Zacks coverage) have turned more constructive, citing accelerating AI-related demand and improving margins. Needham Buy Rating / Benzinga
• Neutral Sentiment: High trading volume and volatility — Trading volume has been well above average during the move, amplifying intraday swings and making timing riskier for short‑term traders. CRDO Soars 9.2%: Is Further Upside Left?
• Neutral Sentiment: Short-interest reports appear meaningless/noisy — recent entries show “large increase” text but report 0 shares (NaN changes) and a 0.0 days‑to‑cover figure; this looks like a data/reporting artifact rather than a true short squeeze signal. (No actionable short‑interest read provided.)
• Negative Sentiment: Profit‑taking and valuation pressure — after the rapid run, some analysts and market participants note that much of the positive news is already priced in and the stock’s elevated multiples raise the risk of pullbacks, which helps explain today’s decline. CRDO Up on Preliminary Q3 Revenue Beat: What it Signals

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.