Credo Technology Group’s (CRDO) “Neutral” Rating Reaffirmed at Rosenblatt Securities

Credo Technology Group (NASDAQ:CRDO)‘s stock had its “neutral” rating reaffirmed by Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $235.00 price objective on the stock. Rosenblatt Securities’ target price indicates a potential upside of 31.05% from the company’s previous close.

Several other brokerages have also issued reports on CRDO. Bank of America dropped their target price on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, September 2nd. Evercore set a $292.00 target price on shares of Credo Technology Group in a research report on Wednesday, September 2nd. TD Cowen lifted their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Wall Street Zen downgraded shares of Credo Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Barclays lifted their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

Credo Technology Group Stock Performance

Credo Technology Group stock traded up $0.10 during mid-day trading on Thursday, hitting $179.33. 7,424,294 shares of the company traded hands, compared to its average volume of 7,581,675. Credo Technology Group has a one year low of $86.49 and a one year high of $308.67. The stock has a market cap of $33.70 billion, a price-to-earnings ratio of 63.82, a price-to-earnings-growth ratio of 0.79 and a beta of 3.25. The stock has a fifty day moving average price of $207.08 and a 200-day moving average price of $204.49.

Credo Technology Group (NASDAQ:CRDO) last announced 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. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The business had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. During the same period in the previous year, the business posted $0.52 earnings per share. Credo Technology Group’s revenue for the quarter was up 114.7% on a year-over-year basis. Sell-side analysts predict that Credo Technology Group will post 5.02 EPS for the current year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, COO Yat Lam sold 55,441 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $213.02, for a total value of $11,810,041.82. Following the completion of the transaction, the chief operating officer directly owned 2,529,169 shares in the company, valued at approximately $538,763,580.38. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $193.12, for a total transaction of $5,310,800.00. Following the transaction, the chief technology officer owned 5,689,897 shares in the company, valued at approximately $1,098,832,908.64. This trade represents a 0.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 468,786 shares of company stock valued at $95,025,003 over the last quarter. 9.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Credo Technology Group by 2.2% during the 1st quarter. California State Teachers Retirement System now owns 240,886 shares of the company’s stock valued at $22,612,000 after buying an additional 5,113 shares in the last quarter. Corsair Capital Management L.P. purchased a new position in shares of Credo Technology Group during the 1st quarter valued at approximately $469,000. Lazard Asset Management LLC lifted its position in shares of Credo Technology Group by 55.6% during the 1st quarter. Lazard Asset Management LLC now owns 67,051 shares of the company’s stock valued at $6,294,000 after buying an additional 23,949 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Credo Technology Group by 68.4% during the 1st quarter. Quantinno Capital Management LP now owns 34,124 shares of the company’s stock valued at $3,203,000 after buying an additional 13,859 shares in the last quarter. Finally, Estuary Capital Management LP lifted its position in shares of Credo Technology Group by 87.4% during the 1st quarter. Estuary Capital Management LP now owns 412,227 shares of the company’s stock valued at $38,696,000 after buying an additional 192,218 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo reported 114.7% year-over-year revenue growth to $479 million in its latest quarter, exceeding expectations, while EPS also topped estimates. Its revenue outlook of approximately $525 million to $535 million and projected fiscal 2027 growth above 85% reinforce the AI-data-center growth story. Credo revenue outlook article
• Positive Sentiment: The company is showcasing its 1.6T ZeroFlap Active Light Cable and advancing an Open Compute Project effort to standardize short-reach micro-emitter optics. Successful adoption could expand Credo’s optical-connectivity market and help address AI data-center bandwidth and power constraints. Credo AI connectivity article
• Positive Sentiment: Some analysts view the pullback as a buying opportunity. Rosenblatt Securities reaffirmed a neutral rating but raised its price target to $235, while the broader analyst consensus remains “Moderate Buy,” with a substantially higher average target. Credo valuation article
• Neutral Sentiment: Comparisons with Coherent and Astera Labs highlight both Credo’s stronger growth prospects and its risks. The stock still trades at a premium valuation, and reliance on two major customers could make future results sensitive to order timing or customer spending decisions. CRDO versus COHR article
• Negative Sentiment: CRDO has declined with other high-growth AI infrastructure shares, suggesting profit-taking and sector-wide valuation concerns rather than a newly reported deterioration in Credo’s business. The stock’s high beta and position below its 50-day and 200-day moving averages underscore elevated volatility. Credo stock pullback analysis
• Negative Sentiment: Several insiders sold shares, including the CFO, CTO and a director. The transactions were made under pre-arranged Rule 10b5-1 plans and left the executives with substantial holdings, limiting their fundamental significance, but the selling may weigh on sentiment during the broader pullback.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.