Bank of America Cuts Credo Technology Group (NASDAQ:CRDO) Price Target to $275.00

Credo Technology Group (NASDAQ:CRDO) had its price objective cut by equities research analysts at Bank of America from $340.00 to $275.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 33.09% from the company’s previous close.

CRDO has been the topic of a number of other reports. TD Cowen boosted 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. Jefferies Financial Group raised their price objective on shares of Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Roth Capital upped their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Stifel Nicolaus increased their target price on shares of Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $265.89.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $206.63 on Wednesday. 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 50 day moving average price of $235.81 and a 200 day moving average price of $188.53. The stock has a market capitalization of $38.83 billion, a P/E ratio of 83.32, a PEG ratio of 1.02 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $473.30 million. During the same period last year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 114.7% on a year-over-year basis. Research analysts forecast that Credo Technology Group will post 4.89 earnings per share for the current fiscal year.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the transaction, the chief executive officer owned 367,327 shares of the company’s stock, valued at approximately $80,286,662.39. This trade represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Yat Tung Lam sold 55,441 shares of Credo Technology Group stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $213.02, for a total value of $11,810,041.82. Following the sale, the chief operating officer owned 2,529,169 shares in the company, valued at $538,763,580.38. This trade represents a 2.15% decrease in their position. 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 435,076 shares of company stock worth $101,043,506. Insiders own 9.06% of the company’s stock.

Institutional Trading of Credo Technology Group

A number of large investors have recently bought and sold shares of CRDO. Orion Capital Management LLC purchased a new stake in shares of Credo Technology Group in the second quarter valued at about $27,000. Reflection Asset Management purchased a new position in shares of Credo Technology Group during the fourth quarter worth about $25,000. Acumen Wealth Advisors LLC purchased a new position in shares of Credo Technology Group during the fourth quarter worth about $25,000. Van ECK Associates Corp acquired a new position in Credo Technology Group in the 4th quarter valued at about $37,000. Finally, Quarry LP increased its position in Credo Technology Group by 642.5% in the 3rd quarter. Quarry LP now owns 297 shares of the company’s stock valued at $43,000 after acquiring an additional 257 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Results exceeded expectations: Credo reported fiscal Q1 2027 earnings of $1.20 per share versus the $1.17 consensus estimate, while revenue of $479 million topped forecasts of $473.3 million. Revenue increased 114.7% year over year, and EPS more than doubled from $0.52 a year earlier. Credo Q1 earnings and revenues beat estimates
• Positive Sentiment: Above-consensus outlook: Management guided fiscal Q2 revenue to $525 million-$535 million, ahead of the approximately $513.8 million analyst estimate. The outlook supports continued demand from AI-related data-center and connectivity customers. Credo Q1 2027 earnings call transcript
• Positive Sentiment: Long-term technology opportunity: Credo joined the Open CPX MSA organization, which is focused on interoperable near-package and co-packaged optical interconnects for AI infrastructure. Credo joins Open CPX MSA organization
• Neutral Sentiment: Expectations were elevated: Analysts’ consensus price target implied roughly 28% additional upside, but Credo’s high beta, substantial gain over the past year and trading well above its 200-day average increased the risk of profit-taking after earnings. Wall Street analysts and Credo price target
• Negative Sentiment: Margin concerns drove the reaction: Reports indicated that pressure on margins outweighed the earnings and revenue beats, raising questions about how profitably Credo can convert rapid AI-driven growth into earnings. Credo shares fall as margin pressure overshadows earnings beat
• Negative Sentiment: Rich valuation leaves little room for disappointment: With shares valued at a high earnings multiple and having risen more than twelvefold over three years, investors are questioning whether the current price already reflects much of Credo’s AI growth potential. Is Credo priced for perfection?

About Credo Technology Group

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.