Credo Technology Group (NASDAQ:CRDO) Rating Increased to Strong-Buy at Zacks Research

Credo Technology Group (NASDAQ:CRDO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on CRDO. Stifel Nicolaus set a $200.00 price objective on Credo Technology Group in a research note on Tuesday, March 3rd. Roth Mkm dropped their price objective on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Craig Hallum reissued a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a research note on Tuesday, March 3rd. The Goldman Sachs Group boosted their price objective on Credo Technology Group from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Susquehanna dropped their price objective on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $207.71.

Credo Technology Group Trading Up 8.3%

Shares of CRDO opened at $182.98 on Tuesday. The company has a market capitalization of $33.75 billion, a PE ratio of 101.66 and a beta of 3.17. Credo Technology Group has a 12 month low of $59.00 and a 12 month high of $213.80. The stock’s 50-day moving average price is $143.14 and its two-hundred day moving average price is $142.48.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.78 by $0.29. The firm had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business’s quarterly revenue was up 201.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. Equities research analysts predict that Credo Technology Group will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Joseph Brennan sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the transaction, the chief executive officer directly owned 1,782,502 shares of the company’s stock, valued at approximately $209,764,835.36. This represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.60, for a total value of $3,234,000.00. Following the transaction, the chief technology officer directly owned 6,272,370 shares in the company, valued at approximately $737,630,712. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 386,608 shares of company stock worth $50,371,351. 11.84% of the stock is owned by company insiders.

Institutional Trading of Credo Technology Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Crewe Advisors LLC raised its stake in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Reflection Asset Management purchased a new stake in shares of Credo Technology Group in the fourth quarter worth approximately $25,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Credo Technology Group in the third quarter worth approximately $25,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Credo Technology Group in the fourth quarter worth approximately $25,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Credo Technology Group in the fourth quarter worth approximately $32,000. 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 announced that CEO Bill Brennan and CFO Dan Fleming will present at upcoming investor conferences, which can increase visibility with institutional investors and keep attention on the stock. Credo to Present at Upcoming Investor Conferences
• Positive Sentiment: Credo also said it is working with Rebellions to improve operational efficiency in enterprise AI factories, reinforcing demand for its connectivity products in AI infrastructure. Credo and Rebellions Work Together to Maximize Operational Efficiency in Enterprise AI Factories
• Positive Sentiment: The stock is benefiting from renewed interest in AI data center connectivity and fresh analyst upgrades, which has helped offset a recent pullback and brought the valuation back into focus. A Look At Credo Technology Group Holding (CRDO) Valuation After AI Connectivity Interest And Analyst Upgrades
• Neutral Sentiment: Recent headlines also note that investors are positioning ahead of Credo’s upcoming Q4 and full-year 2026 earnings, suggesting the next catalyst will likely be the company’s results and guidance. Credo Technology (CRDO) Soars 8% as Investors Gear Up for Earnings
• Negative Sentiment: Some market commentary warned the recent selloff may reflect concerns about whether hyperscaler capex can justify Credo’s rich earnings multiple, which could limit upside if growth expectations cool. Buy, Sell or Hold Credo Technology After the Selloff to $150?

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.