Roth Capital Issues Optimistic Forecast for CRDO Earnings

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) – Investment analysts at Roth Capital lifted their Q1 2027 earnings per share (EPS) estimates for shares of Credo Technology Group in a note issued to investors on Wednesday, September 3rd. Roth Capital analyst S. Desilva now expects that the company will post earnings of $0.39 per share for the quarter, up from their previous forecast of $0.29. Roth Capital has a “Buy” rating and a $160.00 price target on the stock. The consensus estimate for Credo Technology Group’s current full-year earnings is $0.13 per share. Roth Capital also issued estimates for Credo Technology Group’s Q2 2027 earnings at $0.43 EPS, Q3 2027 earnings at $0.46 EPS and Q4 2027 earnings at $0.48 EPS.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.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 firm earned $0.04 earnings per share. The company’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS.

CRDO has been the subject of several other reports. Needham & Company LLC boosted their target price 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. Stifel Nicolaus set a $155.00 price objective on Credo Technology Group in a research report on Thursday, September 4th. Mizuho upped their price objective on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Finally, Barclays upped their price objective on Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to MarketBeat, Credo Technology Group has an average rating of “Buy” and a consensus price target of $126.27.

Credo Technology Group Price Performance

CRDO opened at $149.03 on Monday. Credo Technology Group has a 12 month low of $24.47 and a 12 month high of $151.72. The stock has a market capitalization of $25.78 billion, a price-to-earnings ratio of 222.43 and a beta of 2.59. The business has a fifty day moving average price of $111.71 and a 200 day moving average price of $74.98.

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently made changes to their positions in CRDO. JPMorgan Chase & Co. lifted its holdings in shares of Credo Technology Group by 36.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock valued at $602,662,000 after purchasing an additional 1,739,844 shares during the last quarter. Nuveen LLC purchased a new stake in Credo Technology Group during the 1st quarter valued at approximately $52,636,000. Alliancebernstein L.P. raised its stake in Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after acquiring an additional 1,218,504 shares during the last quarter. Polar Capital Holdings Plc raised its stake in Credo Technology Group by 382.1% during the 4th quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company’s stock valued at $97,527,000 after acquiring an additional 1,150,084 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in Credo Technology Group during the 2nd quarter valued at approximately $82,479,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Daniel W. Fleming sold 3,790 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $137.55, for a total value of $521,314.50. Following the completion of the sale, the chief financial officer directly owned 576,178 shares of the company’s stock, valued at approximately $79,253,283.90. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Laufman sold 10,000 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider directly owned 232,284 shares of the company’s stock, valued at $32,519,760. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,082,444 shares of company stock worth $99,727,097. Corporate insiders own 11.84% of the company’s stock.

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.