Credo Technology Group’s (CRDO) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Credo Technology Group (NASDAQ:CRDO) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $220.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on CRDO. Craig Hallum reaffirmed a “buy” rating and set a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Mizuho cut their price objective on shares of Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus set a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.50.

Credo Technology Group Stock Up 5.5%

CRDO opened at $168.35 on Wednesday. Credo Technology Group has a twelve month low of $33.04 and a twelve month high of $213.80. The company has a 50-day simple moving average of $113.99 and a 200 day simple moving average of $137.04. The stock has a market capitalization of $31.05 billion, a price-to-earnings ratio of 93.53 and a beta of 2.72.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.29. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The business had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. During the same quarter in the prior year, the business posted $0.25 earnings per share. Credo Technology Group’s revenue was up 201.5% compared to the same quarter last year. Sell-side analysts anticipate that Credo Technology Group will post 0.13 EPS for the current fiscal year.

Insider Activity

In other Credo Technology Group news, CTO Chi Fung Cheng sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $136.33, for a total transaction of $4,089,900.00. Following the completion of the transaction, the chief technology officer owned 6,327,370 shares of the company’s stock, valued at approximately $862,610,352.10. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Joseph Brennan sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value 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. The trade was a 2.73% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 386,419 shares of company stock valued at $44,731,310. Insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Spear Advisors LLC acquired a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $11,705,000. World Investment Advisors increased its stake in shares of Credo Technology Group by 77.5% in the fourth quarter. World Investment Advisors now owns 2,870 shares of the company’s stock valued at $413,000 after buying an additional 1,253 shares during the period. Corient Private Wealth LLC increased its stake in shares of Credo Technology Group by 1,665.6% in the fourth quarter. Corient Private Wealth LLC now owns 26,573 shares of the company’s stock valued at $3,824,000 after buying an additional 25,068 shares during the period. Reflection Asset Management acquired a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $25,000. Finally, Clearwave Capital LLC acquired a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $708,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

More Credo Technology Group News

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Major acquisition — Credo agreed to buy DustPhotonics (reported ~\$750M‑\$875M), adding silicon‑photonic optical transceiver tech that deepens its AI/data‑center exposure and could broaden revenue mix. Read More.
• Positive Sentiment: Broker support — Needham reaffirmed a Buy with a $220 target (large upside vs. recent levels), and Jefferies initiated/boosted coverage—both moves lend institutional credibility to the M&A/growth story. Read More.
• Positive Sentiment: Heavy call‑option buying — Unusually large call flows were reported, signaling speculative and hedged bullish positioning that can amplify intraday rallies. Read More.
• Neutral Sentiment: GHG disclosure — Credo published its FY2025 Greenhouse Gas report, increasing transparency on operational emissions (ESG item that supports longer‑term investor due diligence). Read More.
• Neutral Sentiment: M&A details forthcoming — Management hosted an M&A call/transcript is available; investors will be watching guidance on integration, expected synergies, timing and financing. Read More.
• Neutral Sentiment: Sector tailwinds — Broad Nasdaq/AI‑infrastructure strength has helped semiconductor/connectivity names like Credo alongside company‑specific news. Read More.
• Negative Sentiment: Insider selling — CTO Chi Fung Cheng executed Rule 10b5‑1 sales (recently disclosed), which some investors view as a modest near‑term liquidity event to monitor. Read More.
• Negative Sentiment: Analyst caution — Zacks trimmed its stance (from strong‑buy to hold), reflecting concerns that rapid gains and estimate revisions could limit near‑term upside for some investors. Read More.

Credo Technology Group Company Profile

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.