Credo Technology Group (NASDAQ:CRDO) Price Target Cut to $245.00 by Analysts at Mizuho

Credo Technology Group (NASDAQ:CRDO) had its price target decreased by Mizuho from $290.00 to $245.00 in a report issued on Monday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other brokerages have also commented on CRDO. Wall Street Zen lowered Credo Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Roth Capital increased their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Susquehanna raised their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Finally, Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.89.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $187.27 on Monday. The company has a 50 day moving average price of $210.92 and a 200-day moving average price of $193.06. Credo Technology Group has a fifty-two week low of $86.49 and a fifty-two week high of $308.67. The company has a market capitalization of $35.20 billion, a PE ratio of 66.64, a P/E/G ratio of 0.70 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. The company had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $473.30 million. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.Credo Technology Group’s revenue was up 114.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, analysts forecast that Credo Technology Group will post 5.02 earnings per share for the current year.

Insider Activity

In other news, CFO Daniel W. Fleming sold 7,580 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the completion of the sale, the chief financial officer owned 504,708 shares in the company, valued at approximately $124,097,603.04. This represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $205.54, for a total value of $5,652,350.00. Following the transaction, the chief technology officer owned 5,799,870 shares in the company, valued at approximately $1,192,105,279.80. This trade represents a 0.47% 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. Over the last three months, insiders have sold 302,246 shares of company stock valued at $64,700,584. Company insiders own 9.06% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Several institutional investors have recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new stake in Credo Technology Group in the 4th quarter worth approximately $25,000. Orion Capital Management LLC acquired a new position in Credo Technology Group during the 2nd quarter valued at approximately $27,000. AlphaCentric Advisors LLC purchased a new position in shares of Credo Technology Group in the first quarter worth $33,000. Western Wealth Management LLC purchased a new position in shares of Credo Technology Group in the first quarter worth $38,000. Finally, MCF Advisors LLC lifted its stake in shares of Credo Technology Group by 309.9% during the fourth quarter. MCF Advisors LLC now owns 373 shares of the company’s stock worth $54,000 after buying an additional 282 shares during the period. 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 was added to the FTSE All-World Index, which could increase visibility and generate incremental demand from index-tracking funds. Credo added to FTSE All-World Index
• Positive Sentiment: Credo’s new 1.6T ZeroFlap optics expand its addressable market as management targets more than $600 million in fiscal 2027 optical revenue, reinforcing the company’s data-center and AI infrastructure growth story. Credo’s 1.6T optics
• Positive Sentiment: Recent commentary highlights Credo’s AI-driven expansion, including triple-digit revenue growth, an earnings beat, and raised guidance. Some analysts and investors view the stock’s decline from its highs as a potential buying opportunity. Credo growth outlook
• Positive Sentiment: Jim Cramer said investors with a 12-month horizon could buy CRDO, offering a supportive but non-fundamental sentiment boost. Jim Cramer on Credo
• Neutral Sentiment: Mizuho reduced its price target from $290 to $245 but retained an Outperform rating, implying substantial upside from the referenced share price while acknowledging a more cautious valuation view. Mizuho cuts Credo price target
• Negative Sentiment: Bearish analysis argues that further pain may be ahead for shareholders, with risks tied to Credo’s premium valuation, customer concentration, and the difficulty of sustaining rapid growth. The stock has also fallen sharply over the past several months despite strong operating results. Bearish Credo shareholder analysis
• Negative Sentiment: Chief Technology Officer Chi Fung Cheng sold 27,500 shares under a pre-arranged Rule 10b5-1 plan. The sale represented only 0.48% of his holdings, limiting its significance, but insider selling can still weigh on sentiment. Credo CTO insider sale

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for the data infrastructure market. Its products are designed to help move data efficiently within and between networking, storage and computing systems, with applications in artificial intelligence, cloud computing, telecommunications and enterprise data centers.

The company’s portfolio includes serializer/deserializer (SerDes) integrated circuits, retimers, optical digital signal processors and active electrical cables.