Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Stock Has Average Target Price of $264.89

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) have been assigned an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $264.89.

A number of research firms have commented on CRDO. Barclays lifted 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 report on Monday, July 20th. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Susquehanna raised their price target on Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. cut their price objective on Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. Finally, Mizuho reduced their price objective on Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, September 21st.

Credo Technology Group News Roundup

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

• Positive Sentiment: Investors are increasingly focused on the next phase of AI spending: the networking, cabling and optical-connectivity components required to link large data-center clusters. Credo’s revenue recently rose 114.7% year over year to $479 million, while earnings exceeded analyst expectations. AI Spending Is Entering Its Next Phase
• Positive Sentiment: The weaker employment backdrop is helping growth-oriented technology shares, including Credo, because potentially lower interest rates can increase the value investors assign to future earnings. Why Credo Technology Stock Is Surging on an Unemployment Jump
• Positive Sentiment: Sell-side sentiment remains favorable, with Credo carrying a “Moderate Buy” consensus rating and an average price target of $264.89. Recent coverage also points to strong momentum after the latest earnings report. Credo Stock Rated Moderate Buy
• Neutral Sentiment: COO Yat Lam sold 50,000 shares for about $10.3 million, while CTO Chi Cheng sold 27,500 shares for approximately $5.3 million. Both transactions were made under pre-arranged Rule 10b5-1 plans; Lam’s sale covered tax withholding tied to equity vesting, and the executives retain substantial holdings. Credo Insider Sale Filing
• Negative Sentiment: Credo’s valuation remains demanding, with a P/E ratio near 78 and substantial volatility. Additional insider selling, including a recent CEO disposition, could weigh on sentiment if investors become concerned that expectations for AI-driven growth are already reflected in the stock. Credo CEO Sells Company Shares

Credo Technology Group Stock Performance

Shares of Credo Technology Group stock opened at $218.64 on Thursday. The stock has a market capitalization of $41.09 billion, a PE ratio of 77.81, a price-to-earnings-growth ratio of 0.87 and a beta of 3.25. Credo Technology Group has a 52-week low of $86.49 and a 52-week high of $308.67. The company has a 50-day simple moving average of $207.21 and a two-hundred day simple moving average of $198.01.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating 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 firm had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $473.30 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The business’s revenue for the quarter was up 114.7% on a year-over-year basis. As a group, equities research analysts forecast that Credo Technology Group will post 5.02 EPS for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other news, COO Yat Lam sold 50,000 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $205.22, for a total value of $10,261,000.00. Following the completion of the sale, the chief operating officer directly owned 2,254,169 shares in the company, valued at $462,600,562.18. This represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Laufman sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $185.00, for a total value of $925,000.00. Following the completion of the transaction, the insider directly owned 169,223 shares in the company, valued at $31,306,255. This trade represents a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 434,746 shares of company stock worth $89,424,859. 9.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of hedge funds have recently modified their holdings of the company. Reflection Asset Management bought a new position in shares of Credo Technology Group during the fourth quarter worth $25,000. Orion Capital Management LLC bought a new stake in Credo Technology Group in the 2nd quarter valued at $27,000. AlphaCentric Advisors LLC purchased a new stake in Credo Technology Group in the 1st quarter worth $33,000. Burkett Financial Services LLC bought a new position in shares of Credo Technology Group during the 3rd quarter valued at about $33,000. Finally, Western Wealth Management LLC bought a new position in shares of Credo Technology Group during the 1st quarter valued at about $38,000. 80.46% of the stock is currently owned by institutional investors.

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.