Credo Technology Group’s (CRDO) Neutral Rating Reiterated at Rosenblatt Securities

Credo Technology Group (NASDAQ:CRDO)‘s stock had its “neutral” rating reiterated by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $235.00 price target on the stock. Rosenblatt Securities’ price target suggests a potential upside of 31.12% from the stock’s previous close.

CRDO has been the topic of a number of other research reports. Mizuho decreased their target price on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, September 21st. Bank of America decreased their target price on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, September 2nd. Susquehanna raised their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Barclays raised their target price 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. Finally, TD Cowen raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $262.67.

Credo Technology Group Trading Down 9.6%

NASDAQ CRDO opened at $179.23 on Thursday. Credo Technology Group has a 12 month low of $86.49 and a 12 month high of $308.67. The stock has a market cap of $33.69 billion, a price-to-earnings ratio of 63.78, a PEG ratio of 0.79 and a beta of 3.25. The company’s 50 day moving average is $207.08 and its two-hundred day moving average is $204.49.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $473.30 million. During the same quarter last year, the business earned $0.52 EPS. The firm’s revenue was up 114.7% compared to the same quarter last year. Sell-side analysts forecast that Credo Technology Group will post 5.02 EPS for the current year.

Insiders Place Their Bets

In related news, COO Yat Lam sold 55,441 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $538,763,580.38. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 that occurred on Wednesday, September 23rd. The stock was sold at an average price of $193.12, for a total value of $5,310,800.00. Following the sale, the chief technology officer directly owned 5,689,897 shares in the company, valued at $1,098,832,908.64. The trade was a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 468,786 shares of company stock valued at $95,025,003. 9.06% of the stock is currently owned by insiders.

Institutional Trading of Credo Technology Group

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Credo Technology Group by 13.7% in the second quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock valued at $593,603,000 after purchasing an additional 262,479 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Credo Technology Group by 239,024.5% during the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after buying an additional 3,597,318 shares during the period. Atreides Management LP boosted its position in shares of Credo Technology Group by 3.5% during the second quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock worth $307,109,000 after buying an additional 38,052 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Credo Technology Group by 192.1% during the first quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock worth $98,290,000 after buying an additional 688,596 shares during the period. Finally, Value Aligned Research Advisors LLC purchased a new position in Credo Technology Group in the second quarter valued at $91,919,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

More Credo Technology Group News

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

• Positive Sentiment: Credo reiterated a strong growth outlook, including expected revenue of approximately $525 million to $535 million and projected fiscal 2027 revenue growth of more than 85%. Its latest quarterly revenue rose 114.7% year over year to $479 million, exceeding analyst expectations. Credo revenue outlook article
• Positive Sentiment: The company launched its 1.6T ZeroFlap Active Light Cable, designed to deliver longer reach, lower power consumption and improved reliability for AI data centers. Commercial shipments are expected around 2027, offering a potential new growth avenue as hyperscalers expand network capacity. Credo ZeroFlap cable article
• Positive Sentiment: Credo is leading an Open Compute Project workstream to standardize short-reach micro-emitter optics. Industry adoption could broaden its customer base and reduce dependence on two major customers. Credo SRMO workstream article
• Neutral Sentiment: Analysts maintain a consensus “Moderate Buy” rating and an average price target of $262.67, but several firms have recently lowered targets. Credo’s premium valuation and customer concentration make the stock sensitive to any slowdown in AI-related spending or execution. Credo valuation article
• Negative Sentiment: CRDO has moved lower alongside AI infrastructure peers, including Astera Labs, suggesting sector-wide profit-taking and elevated volatility rather than a specific deterioration in Credo’s business. The shares remain below their 52-week high and below key moving averages. Credo stock decline analysis
• Negative Sentiment: Director Pantas Sutardja, CTO Chi Cheng and CFO Daniel Fleming reported stock sales totaling more than $8 million. The transactions were made under pre-arranged Rule 10b5-1 plans, and each executive retained substantial holdings, which limits—but does not eliminate—the negative sentiment from insider selling.

About Credo Technology Group

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.