Credo Technology Group’s (CRDO) “Overweight” Rating Reiterated at Barclays

Barclays reissued their overweight rating on shares of Credo Technology Group (NASDAQ:CRDO) in a report released on Tuesday morning,Benzinga reports. Barclays currently has a $165.00 price objective on the stock.

Other analysts have also issued reports about the company. William Blair started coverage on Credo Technology Group in a research note on Thursday, September 18th. They issued an “outperform” rating on the stock. Needham & Company LLC raised their price target on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th. Roth Capital reissued a “buy” rating and issued a $170.00 price target on shares of Credo Technology Group in a research note on Tuesday, September 30th. Finally, TD Cowen started coverage on Credo Technology Group in a research note on Wednesday, October 1st. They issued a “buy” rating and a $170.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $128.55.

Credo Technology Group Stock Up 1.5%

CRDO opened at $151.15 on Tuesday. The firm has a market cap of $26.15 billion, a P/E ratio of 225.60 and a beta of 2.60. Credo Technology Group has a 52 week low of $29.09 and a 52 week high of $176.70. The business’s fifty day simple moving average is $136.00 and its 200 day simple moving average is $90.80.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The company had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities analysts expect that Credo Technology Group will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $148.35, for a total transaction of $8,159,250.00. Following the sale, the chief technology officer directly owned 6,833,961 shares in the company, valued at approximately $1,013,818,114.35. This trade represents a 0.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lip Bu Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $175.12, for a total value of $3,502,400.00. Following the sale, the director owned 422,180 shares in the company, valued at approximately $73,932,161.60. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 884,601 shares of company stock valued at $115,510,924. Corporate insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Realta Investment Advisors purchased a new stake in Credo Technology Group during the 2nd quarter worth approximately $300,000. Janney Montgomery Scott LLC increased its holdings in Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock worth $270,000 after purchasing an additional 1,467 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Credo Technology Group by 850.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after purchasing an additional 3,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credo Technology Group during the 1st quarter worth approximately $27,000. Finally, Teacher Retirement System of Texas increased its holdings in Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock worth $1,405,000 after purchasing an additional 28,788 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.