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

Credo Technology Group (NASDAQ:CRDO)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $220.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 60.10% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Barclays reissued an “overweight” rating and issued a $260.00 price target on shares of Credo Technology Group in a report on Thursday, January 15th. JPMorgan Chase & Co. initiated coverage on shares of Credo Technology Group in a research note on Friday, October 17th. They set an “overweight” rating and a $165.00 price target on the stock. TD Cowen reissued a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Mizuho lifted their target price on shares of Credo Technology Group from $165.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 2nd. Finally, New Street Research set a $240.00 price target on Credo Technology Group in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $212.69.

Credo Technology Group Price Performance

Credo Technology Group stock traded up $14.00 during trading hours on Tuesday, hitting $137.41. The stock had a trading volume of 9,286,718 shares, compared to its average volume of 7,058,060. Credo Technology Group has a 1-year low of $29.09 and a 1-year high of $213.80. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 120.54 and a beta of 2.65. The stock’s fifty day moving average is $144.08 and its two-hundred day moving average is $142.69.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, December 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $268.03 million during the quarter, compared to analysts’ expectations of $234.99 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The firm’s quarterly revenue was up 272.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Credo Technology Group will post 0.13 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In related news, COO Yat Tung Lam sold 370,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $153.19, for a total value of $56,680,300.00. Following the completion of the sale, the chief operating officer directly owned 400,000 shares in the company, valued at approximately $61,276,000. This represents a 48.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.70, for a total value of $9,608,500.00. Following the transaction, the chief technology officer owned 6,613,961 shares in the company, valued at approximately $1,155,458,986.70. This represents a 0.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 917,976 shares of company stock valued at $136,567,647 over the last ninety days. Corporate insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Credo Technology Group by 128.4% during the first 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 holdings in Credo Technology Group by 63.0% during the 1st 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 grew its position in shares of Credo Technology Group by 2.3% in 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 acquiring an additional 7,107 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Credo Technology Group during the 2nd quarter valued at approximately $328,000. Finally, US Bancorp DE lifted its stake in Credo Technology Group by 61.7% during the second quarter. US Bancorp DE now owns 6,422 shares of the company’s stock worth $595,000 after purchasing an additional 2,451 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Credo issued preliminary Q3 revenue of $404–$408M, well above prior guidance and consensus, prompting the company to update its outlook and schedule a Q3 results call — an upside surprise that directly supports the stock’s rally. Credo Provides Preliminary Third Quarter Fiscal Year 2026 Revenue Results
• Positive Sentiment: Analysts and trade press point to strong demand from hyperscalers and AI networking as the driver of the beat — indications that product ramps and large-customer traction are accelerating. CRDO Up on Preliminary Q3 Revenue Beat
• Positive Sentiment: Market coverage and headlines (Schaeffers, Benzinga, Investing.com) show active flows and heavy pre-/after-hours interest — momentum traders and event-driven funds are buying into the beat. Chip Stock Extends Rebound on Preliminary Revenue Beat
• Neutral Sentiment: Earnings still haven’t been formally reported — the preliminary revenue range is encouraging but subject to final Q3 results, detailed margin and EPS disclosure when the company reports in March. Credo Provides Preliminary Third Quarter Fiscal Year 2026 Revenue Results
• Negative Sentiment: Some analysts warn the prior pullback reflected an expectation reset and non-linear hyperscaler ramps — the stock remains exposed to volatile order timing, and upside can be concentrated in a few large customers. Credo’s Pullback Created A Rare Setup
• Negative Sentiment: Valuation risk: commentary highlights potential EV/sales multiple compression even as revenue scales (analysts model rapid revenue growth toward FY27), so upside depends on sustained margin and revenue execution. Credo Technology: The Market Has Given A Chance To Load Up (Earnings Preview)

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.