Credo Technology Group (NASDAQ:CRDO) Releases Earnings Results

Credo Technology Group (NASDAQ:CRDO) posted its quarterly earnings results on Monday. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08, Briefing.com reports. Credo Technology Group had a negative net margin of 9.70% and a negative return on equity of 2.94%. The firm had revenue of $170.00 million during the quarter, compared to analyst estimates of $159.59 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 179.6% compared to the same quarter last year. Credo Technology Group updated its Q1 2026 guidance to EPS.

Credo Technology Group Trading Down 1.2%

Shares of CRDO traded down $0.90 during trading hours on Wednesday, reaching $71.02. 596,253 shares of the stock traded hands, compared to its average volume of 3,771,575. The company has a market cap of $12.06 billion, a P/E ratio of -478.95 and a beta of 2.29. Credo Technology Group has a 52-week low of $22.50 and a 52-week high of $86.69. The company’s 50-day moving average price is $48.23 and its two-hundred day moving average price is $57.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CRDO shares. Stifel Nicolaus upped their price target on Credo Technology Group from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays increased their price target on Credo Technology Group from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday. Mizuho decreased their price objective on Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Bank of America reduced their target price on Credo Technology Group from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, Needham & Company LLC lifted their target price on Credo Technology Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Credo Technology Group currently has a consensus rating of “Buy” and a consensus price target of $78.60.

Insiders Place Their Bets

In other news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Monday, March 24th. The stock was sold at an average price of $49.77, for a total transaction of $2,737,350.00. Following the completion of the sale, the chief technology officer now directly owns 8,048,602 shares in the company, valued at approximately $400,578,921.54. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Laufman sold 8,000 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $39.09, for a total value of $312,720.00. Following the transaction, the insider now owns 271,725 shares in the company, valued at $10,621,730.25. The trade was a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 473,665 shares of company stock worth $19,795,531 in the last 90 days. 16.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Credo Technology Group

A number of large investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its stake in Credo Technology Group by 128.4% during the 1st quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock worth $284,000 after buying an additional 3,972 shares during the period. Goldman Sachs Group Inc. increased its holdings in Credo Technology Group by 63.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after acquiring an additional 589,151 shares in the last quarter. Finally, 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 purchasing an additional 7,107 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

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.