Credo Technology Group (NASDAQ:CRDO) Stock Rating Reaffirmed as Neutral by Rosenblatt Securities

Credo Technology Group (NASDAQ:CRDO)‘s stock had its “neutral” rating reissued by analysts at Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $235.00 target price on the stock. Rosenblatt Securities’ price target suggests a potential upside of 38.48% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Susquehanna lifted their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. dropped their target price on shares of Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. Barclays lifted their target price on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Mizuho dropped their target price on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, September 21st. Finally, Weiss Ratings downgraded shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

Credo Technology Group Trading Down 4.9%

CRDO stock traded down $8.80 during midday trading on Thursday, reaching $169.70. The company had a trading volume of 6,386,712 shares, compared to its average volume of 7,590,418. Credo Technology Group has a 1 year low of $86.49 and a 1 year high of $308.67. The company has a market capitalization of $31.90 billion, a P/E ratio of 60.39, a PEG ratio of 0.71 and a beta of 3.25. The company has a 50 day moving average of $206.04 and a two-hundred day moving average of $205.07.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $473.30 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue was up 114.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Credo Technology Group will post 5.02 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In other news, CFO Daniel W. Fleming sold 7,580 shares of Credo Technology Group stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $212.91, for a total transaction of $1,613,857.80. Following the sale, the chief financial officer directly owned 492,208 shares in the company, valued at approximately $104,796,005.28. The trade was a 1.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pantas Sutardja sold 1,540 shares of Credo Technology Group stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $212.22, for a total transaction of $326,818.80. Following the sale, the director owned 5,890,494 shares in the company, valued at approximately $1,250,080,636.68. This trade represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 468,786 shares of company stock worth $95,025,003 in the last 90 days. 9.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Peak Financial Management Inc. boosted its position in Credo Technology Group by 82.9% in the third quarter. Peak Financial Management Inc. now owns 1,600 shares of the company’s stock valued at $312,000 after buying an additional 725 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Credo Technology Group by 28.1% in the third quarter. TD Waterhouse Canada Inc. now owns 337 shares of the company’s stock valued at $71,000 after buying an additional 74 shares during the period. Pension & Wealth Management Advisors Inc. lifted its holdings in Credo Technology Group by 80.0% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 1,735 shares of the company’s stock valued at $338,000 after buying an additional 771 shares during the period. Riverbend Wealth Management LLC lifted its holdings in Credo Technology Group by 86.0% in the third quarter. Riverbend Wealth Management LLC now owns 1,399 shares of the company’s stock valued at $273,000 after buying an additional 647 shares during the period. Finally, Activest Wealth Management lifted its holdings in Credo Technology Group by 214.6% in the third quarter. Activest Wealth Management now owns 1,655 shares of the company’s stock valued at $322,000 after buying an additional 1,129 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo is starting a new optical connectivity standards group, an initiative that could help shape industry requirements and support adoption of its optical products across AI data centers. Credo starts optical connectivity standards group
• Positive Sentiment: Recent coverage emphasizes Credo’s role in solving connectivity and reliability bottlenecks between processors in large AI clusters. Its high-speed connectivity products could become increasingly important as hyperscalers expand AI infrastructure. Credo AI connectivity outlook
• Positive Sentiment: The company’s latest reported quarter showed revenue rising 114.7% year over year to $479 million, exceeding estimates, while EPS also beat expectations. This performance supports the bullish view that AI-related demand remains strong.
• Neutral Sentiment: Rosenblatt reaffirmed a “Neutral” rating but raised its price target to $235, implying meaningful potential upside from recent levels. Broader analyst sentiment remains positive, although target-price reductions and comparisons with Arm and Coherent highlight valuation and execution risks.
• Negative Sentiment: CRDO has been pressured alongside other AI infrastructure stocks by sector-wide profit-taking. With a premium earnings multiple, high volatility and reliance on major customers, the stock is particularly sensitive to changes in AI spending expectations.
• Negative Sentiment: Director Pantas Sutardja sold approximately $326,819 of stock under a pre-arranged Rule 10b5-1 plan. The sale represented only 0.03% of his holdings, limiting its significance, but insider selling may still weigh on investor sentiment. Credo director stock sale

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.