Credo Technology Group (NASDAQ:CRDO) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Credo Technology Group (NASDAQ:CRDO) in a research note published on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $165.00 price target on the stock.

Several other analysts also recently commented on the stock. Stifel Nicolaus set a $160.00 price objective on shares of Credo Technology Group in a research report on Wednesday, October 1st. Needham & Company LLC upped their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Barclays restated an “overweight” rating and set a $165.00 target price on shares of Credo Technology Group in a research note on Tuesday, October 7th. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $131.58.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $143.61 on Friday. Credo Technology Group has a one year low of $29.09 and a one year high of $176.70. The company’s 50-day moving average is $138.80 and its 200 day moving average is $94.74. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 214.34 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $190.63 million. During the same period last year, the company posted $0.04 earnings per share. The business’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts predict that Credo Technology Group will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other news, COO Yat Tung Lam sold 80,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total value of $11,482,400.00. Following the transaction, the chief operating officer owned 920,000 shares in the company, valued at $132,047,600. This represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Joseph Brennan sold 150,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the completion of the transaction, the chief executive officer owned 2,061,978 shares in the company, valued at $220,363,588.86. This trade represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,006,589 shares of company stock worth $135,192,863 over the last quarter. Company insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Institutional investors have recently made changes to their positions in the business. Realta Investment Advisors bought a new position in shares of Credo Technology Group in the 2nd quarter worth approximately $300,000. Janney Montgomery Scott LLC raised its stake in Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock worth $270,000 after acquiring an additional 1,467 shares during the period. Farther Finance Advisors LLC raised its stake in Credo Technology Group by 850.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after acquiring an additional 3,700 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Credo Technology Group during the 1st quarter worth approximately $27,000. Finally, Teacher Retirement System of Texas raised its stake in Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock worth $1,405,000 after acquiring an additional 28,788 shares during the period. Institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

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.