Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives Average Recommendation of “Moderate Buy” from Analysts

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) has earned a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $258.2222.

CRDO has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. Mizuho increased their target price on Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Susquehanna upped their price target on Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $250.00 price target on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Finally, Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th.

Credo Technology Group Stock Performance

NASDAQ CRDO opened at $302.52 on Tuesday. The business has a 50 day simple moving average of $203.74 and a 200 day simple moving average of $154.84. Credo Technology Group has a 52-week low of $81.72 and a 52-week high of $308.67. The stock has a market cap of $56.41 billion, a price-to-earnings ratio of 121.98, a PEG ratio of 1.43 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. During the same period in the prior year, the business earned $0.20 EPS. Credo Technology Group’s revenue for the quarter was up 157.0% compared to the same quarter last year. On average, analysts predict that Credo Technology Group will post 4.84 EPS for the current year.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Evercore ISI initiated coverage with an Outperform rating and a $325 price target, calling Wall Street too conservative on Credo’s long-term opportunity as it expands beyond copper into AI networking infrastructure. Evercore Says Wall Street Is 40% Too Low on Credo
• Positive Sentiment: Stifel also raised its price target on CRDO to $350 and reiterated a Buy rating, adding to the bullish analyst momentum. Why Is Credo Technology Stock Soaring Monday?
• Positive Sentiment: Investors are also responding to Credo’s strong recent operating results, including sharply higher revenue, solid profitability, and management’s upbeat outlook tied to AI data-center demand and optical growth. Credo Stock Spikes To Record High On Bullish Reports
• Neutral Sentiment: The stock has been setting record highs as traders continue to price in Credo’s expansion into high-speed interconnect products, including optical solutions that could broaden its AI infrastructure market opportunity.

Insiders Place Their Bets

In other Credo Technology Group news, CEO William Joseph Brennan sold 54,984 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the transaction, the chief executive officer owned 367,327 shares of the company’s stock, valued at $80,286,662.39. This represents a 13.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daniel W. Fleming sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the transaction, the chief financial officer directly owned 501,873 shares of the company’s stock, valued at approximately $125,207,276.04. This trade represents a 7.38% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 389,384 shares of company stock valued at $70,041,518 in the last quarter. 11.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of large investors have recently bought and sold shares of CRDO. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Credo Technology Group by 9.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after buying an additional 23,332 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Credo Technology Group by 428.8% in the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock valued at $1,932,000 after buying an additional 10,888 shares during the last quarter. FengHe Fund Management Pte. Ltd. boosted its holdings in shares of Credo Technology Group by 5.7% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock valued at $23,349,000 after buying an additional 8,769 shares during the last quarter. TD Asset Management Inc acquired a new stake in shares of Credo Technology Group in the 3rd quarter valued at approximately $17,454,000. Finally, Second Line Capital LLC acquired a new stake in shares of Credo Technology Group in the 3rd quarter valued at approximately $4,283,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

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.