Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Given Average Rating of “Buy” by Brokerages

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) has been given an average rating of “Buy” by the nineteen analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $266.1667.

Several equities analysts have issued reports on the company. TD Cowen boosted their target price on Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Rosenblatt Securities raised their price target on Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Mizuho lifted their price target on Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $250.00 price objective on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 2nd.

More Credo Technology Group News

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

• Positive Sentiment: Several recent write-ups highlight Credo as a leading AI connectivity play, benefiting from hyperscalers’ need for higher-speed connections in data centers and positioning the company as a “backbone” supplier for AI infrastructure. Article Title
• Positive Sentiment: Articles citing fund commentary suggest Credo’s Q2 strength is being driven by rising connectivity demand, which is reinforcing the market’s view that the company can keep growing rapidly as AI spending expands. Article Title
• Positive Sentiment: Recent coverage also points to a bullish thesis upgrade and price-target discussion, implying that some investors see the recent pullback as a buying opportunity rather than a trend reversal. Article Title
• Neutral Sentiment: One comparison piece versus Marvell argues that Credo and Marvell both benefit from AI connectivity demand, but their growth, margin, and outlook profiles differ, which keeps investor debate focused on relative valuation and execution. Article Title
• Negative Sentiment: Some commentary warns that CRDO has been highly volatile, including a sharp weekly sell-off and concerns that the stock may have already priced in much of the AI optimism, which could limit near-term upside. Article Title

Credo Technology Group Stock Performance

Shares of Credo Technology Group stock opened at $228.27 on Friday. Credo Technology Group has a one year low of $86.49 and a one year high of $308.67. The company has a market cap of $42.57 billion, a P/E ratio of 92.04, a PEG ratio of 1.02 and a beta of 3.20. The firm has a fifty day moving average of $233.42 and a two-hundred day moving average of $168.92.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. The business had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The business’s quarterly revenue was up 157.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. As a group, equities analysts predict that Credo Technology Group will post 4.84 earnings per share for the current year.

Insider Activity at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 7,580 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the sale, the chief financial officer owned 504,708 shares of the company’s stock, valued at approximately $124,097,603.04. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 3,790 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $258.71, for a total transaction of $980,510.90. Following the transaction, the chief technology officer owned 140,358 shares in the company, valued at $36,312,018.18. The trade was a 2.63% decrease in their ownership of the stock. 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. Insiders have sold 302,162 shares of company stock worth $70,897,646 over the last three months. 11.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Credo Technology Group by 9.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after purchasing an additional 23,332 shares during the period. FengHe Fund Management Pte. Ltd. increased its stake in Credo Technology Group by 5.7% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock valued at $23,349,000 after purchasing an additional 8,769 shares during the last quarter. M&T Bank Corp lifted its position in Credo Technology Group by 428.8% during the fourth quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock worth $1,932,000 after buying an additional 10,888 shares during the period. Nordea Investment Management AB purchased a new position in Credo Technology Group during the fourth quarter worth about $2,084,000. Finally, Teacher Retirement System of Texas boosted its stake in Credo Technology Group by 486.2% in the 4th quarter. Teacher Retirement System of Texas now owns 239,721 shares of the company’s stock worth $34,493,000 after buying an additional 198,826 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

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.