Credo Technology Group (NASDAQ:CRDO – Get Free Report) had its price target boosted by Rosenblatt Securities from $215.00 to $235.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 13.73% from the stock’s previous close.
Several other equities research analysts also recently commented on CRDO. Zacks Research downgraded shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Credo Technology Group in a research note on Friday, August 21st. Jefferies Financial Group boosted their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group restated a “buy” rating and set a $250.00 price target on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Finally, Barclays raised their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $265.89.
Get Our Latest Research Report on Credo Technology Group
Credo Technology Group Stock Performance
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.Credo Technology Group’s quarterly revenue was up 114.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, sell-side analysts forecast that Credo Technology Group will post 4.89 earnings per share for the current year.
Insider Transactions at Credo Technology Group
In related news, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $243.06, for a total transaction of $6,684,150.00. Following the transaction, the chief technology officer directly owned 5,882,370 shares of the company’s stock, valued at approximately $1,429,768,852.20. This trade represents a 0.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 completion of the sale, the chief financial officer directly owned 501,873 shares of the company’s stock, valued at approximately $125,207,276.04. This represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold a total of 435,076 shares of company stock valued at $101,043,506 over the last quarter. 9.06% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of CRDO. Corient Private Wealth LP boosted its holdings in Credo Technology Group by 151.7% during the 2nd quarter. Corient Private Wealth LP now owns 6,604 shares of the company’s stock valued at $1,796,000 after acquiring an additional 3,980 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Credo Technology Group in the 2nd quarter worth approximately $12,728,000. California State Teachers Retirement System lifted its position in Credo Technology Group by 28,062.9% in the second quarter. California State Teachers Retirement System now owns 67,840,375 shares of the company’s stock valued at $18,449,190,000 after purchasing an additional 67,599,489 shares during the last quarter. Greenland Capital Management LP bought a new stake in Credo Technology Group in the second quarter valued at approximately $415,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Credo Technology Group during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors 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: Results exceeded expectations: Credo reported fiscal Q1 2027 earnings of $1.20 per share versus the $1.17 consensus estimate, while revenue of $479 million topped forecasts of $473.3 million. Revenue increased 114.7% year over year, and EPS more than doubled from $0.52 a year earlier. Credo Q1 earnings and revenues beat estimates
- Positive Sentiment: Above-consensus outlook: Management guided fiscal Q2 revenue to $525 million-$535 million, ahead of the approximately $513.8 million analyst estimate. The outlook supports continued demand from AI-related data-center and connectivity customers. Credo Q1 2027 earnings call transcript
- Positive Sentiment: Long-term technology opportunity: Credo joined the Open CPX MSA organization, which is focused on interoperable near-package and co-packaged optical interconnects for AI infrastructure. Credo joins Open CPX MSA organization
- Neutral Sentiment: Expectations were elevated: Analysts’ consensus price target implied roughly 28% additional upside, but Credo’s high beta, substantial gain over the past year and trading well above its 200-day average increased the risk of profit-taking after earnings. Wall Street analysts and Credo price target
- Negative Sentiment: Margin concerns drove the reaction: Reports indicated that pressure on margins outweighed the earnings and revenue beats, raising questions about how profitably Credo can convert rapid AI-driven growth into earnings. Credo shares fall as margin pressure overshadows earnings beat
- Negative Sentiment: Rich valuation leaves little room for disappointment: With shares valued at a high earnings multiple and having risen more than twelvefold over three years, investors are questioning whether the current price already reflects much of Credo’s AI growth potential. Is Credo priced for perfection?
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.
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