JPMorgan Chase & Co. Cuts Credo Technology Group (NASDAQ:CRDO) Price Target to $310.00

Credo Technology Group (NASDAQ:CRDO) had its target price decreased by analysts at JPMorgan Chase & Co. from $335.00 to $310.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 89.21% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC lifted their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Zacks Research lowered Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Jefferies Financial Group boosted their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Stifel Nicolaus lifted their price objective on shares of Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Credo Technology Group in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of “Moderate Buy” and an average target price of $267.39.

Credo Technology Group Price Performance

Shares of CRDO stock traded down $42.79 during trading hours on Wednesday, reaching $163.84. The company had a trading volume of 21,049,134 shares, compared to its average volume of 7,280,330. The business has a fifty day simple moving average of $235.81 and a 200-day simple moving average of $188.53. Credo Technology Group has a 12 month low of $86.49 and a 12 month high of $308.67. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 65.95, a price-to-earnings-growth ratio of 1.02 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $473.30 million. During the same period last year, the business earned $0.52 EPS. The business’s revenue was up 114.7% on a year-over-year basis. On average, equities research analysts expect that Credo Technology Group will post 4.89 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Chi Fung Cheng sold 27,473 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $209.53, for a total value of $5,756,417.69. Following the sale, the chief technology officer directly owned 5,772,397 shares of the company’s stock, valued at approximately $1,209,490,343.41. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing 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, CFO Daniel W. Fleming sold 7,580 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 504,708 shares in the company, valued at $124,097,603.04. This trade represents a 1.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 435,076 shares of company stock valued at $101,043,506. Corporate insiders own 9.06% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in shares of Credo Technology Group by 128.4% in 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. grew its position in Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after acquiring an additional 589,151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Credo Technology Group by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock valued at $12,480,000 after acquiring an additional 7,107 shares during the last quarter. CW Advisors LLC bought a new stake in Credo Technology Group during the second quarter worth about $288,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Credo Technology Group by 198.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after purchasing an additional 333 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo reported fiscal Q1 EPS of $1.20 versus the $1.17 consensus estimate, while revenue rose 114.7% year over year to $479 million, slightly exceeding expectations. Credo Q1 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management guided fiscal Q2 revenue to $525 million-$535 million, above the approximately $513.8 million analyst consensus, signaling continued demand for AI data-center connectivity products. Credo Q2 Revenue Guidance
• Positive Sentiment: Credo highlighted optical connectivity as its next major growth engine, with fiscal 2027 optical revenue potentially exceeding $600 million as active electrical cables and silicon-photonics products expand. Credo Earnings Call Highlights
• Positive Sentiment: Bank of America maintained a Buy rating with a $275 price target, while Rosenblatt raised its target to $235, suggesting analysts still see substantial long-term upside despite near-term caution.
• Neutral Sentiment: Credo joined the Open CPX MSA organization to help develop interoperable near-package and co-packaged optical interconnects, a strategic move that could support future AI infrastructure adoption but is not an immediate revenue catalyst. Credo Joins Open CPX MSA
• Neutral Sentiment: Heavy options activity indicates expectations for continued volatility following earnings and Credo’s large year-to-date rally.
• Negative Sentiment: The earnings beat was viewed as insufficient for a richly valued stock: Credo trades at a high earnings multiple after rising more than 12-fold over three years, leaving little room for disappointment. Credo Valuation Analysis
• Negative Sentiment: Investors remain concerned about margin pressure, customer concentration among hyperscalers and the risk that optical-product ramps may take longer or cost more than expected. Credo Q1 Results Investor Analysis

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.