Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Given Average Recommendation of “Buy” by Analysts

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) have been given an average rating of “Buy” by the sixteen ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $128.5455.

Several brokerages recently issued reports on CRDO. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. William Blair began coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They set an “outperform” rating on the stock. Mizuho increased their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Cowen reissued a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Finally, TD Cowen began coverage on shares of Credo Technology Group in a research note on Wednesday, October 1st. They set a “buy” rating and a $170.00 target price on the stock.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the transaction, the chief executive officer directly owned 2,061,978 shares of the company’s stock, valued at approximately $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Yat Tung Lam sold 80,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the completion of the transaction, the chief operating officer directly owned 920,000 shares in the company, valued at $132,047,600. This trade represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,006,589 shares of company stock valued at $135,192,863 over the last ninety days. 11.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Operose Advisors LLC lifted its stake in shares of Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after buying an additional 252 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Credo Technology Group during the first quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credo Technology Group during the first quarter valued at about $27,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Credo Technology Group during the second quarter valued at about $27,000. Finally, Harbour Investments Inc. bought a new position in shares of Credo Technology Group during the first quarter valued at about $29,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Up 1.3%

CRDO opened at $131.41 on Thursday. Credo Technology Group has a twelve month low of $29.09 and a twelve month high of $176.70. The company has a fifty day moving average of $138.00 and a 200-day moving average of $93.38. The stock has a market cap of $22.73 billion, a PE ratio of 196.13 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share 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 firm had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same quarter last year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Sell-side analysts anticipate that Credo Technology Group will post 0.13 EPS for the current fiscal year.

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.