Credo Technology Group’s (CRDO) Neutral Rating Reaffirmed at Rosenblatt Securities

Credo Technology Group (NASDAQ:CRDO)‘s stock had its “neutral” rating reissued by research analysts at Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $235.00 price target on the stock. Rosenblatt Securities’ target price points to a potential upside of 33.98% from the company’s previous close.

Several other research firms have also commented on CRDO. Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. TD Cowen lifted their target price on Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Mizuho cut their price objective on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a research report on Monday, September 21st. Wall Street Zen lowered shares of Credo Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Barclays upped their price target on Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $262.67.

Credo Technology Group Stock Performance

NASDAQ CRDO traded down $3.83 on Thursday, reaching $175.40. 3,918,522 shares of the stock traded hands, compared to its average volume of 7,564,100. Credo Technology Group has a 12 month low of $86.49 and a 12 month high of $308.67. The company has a fifty day moving average price of $207.08 and a 200-day moving average price of $204.49. The company has a market cap of $32.97 billion, a price-to-earnings ratio of 62.31, a PEG ratio of 0.79 and a beta of 3.25.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. The firm had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. During the same quarter last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 114.7% on a year-over-year basis. As a group, research analysts anticipate that Credo Technology Group will post 5.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

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

Institutional Trading of Credo Technology Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Mather Group LLC. lifted its holdings in Credo Technology Group by 16.8% during the third quarter. Mather Group LLC. now owns 3,922 shares of the company’s stock valued at $764,000 after purchasing an additional 564 shares in the last quarter. Hudock Inc. lifted its position in shares of Credo Technology Group by 2.8% in the third quarter. Hudock Inc. now owns 4,317 shares of the company’s stock valued at $841,000 after acquiring an additional 119 shares in the last quarter. Elemental Capital Partners LLC boosted its stake in shares of Credo Technology Group by 1.9% in the third quarter. Elemental Capital Partners LLC now owns 237,658 shares of the company’s stock worth $46,293,000 after acquiring an additional 4,520 shares during the last quarter. Triumph Capital Management increased its position in shares of Credo Technology Group by 151.0% during the third quarter. Triumph Capital Management now owns 7,185 shares of the company’s stock worth $1,400,000 after purchasing an additional 4,323 shares in the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in Credo Technology Group in the 3rd quarter valued at $363,000. 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: Recent bullish commentary argues that the selloff has made CRDO a “strong buy,” while the company’s AI-connectivity demand remains robust. Credo expects quarterly revenue of approximately $525 million to $535 million, and fiscal 2027 revenue is projected to rise more than 85%. Credo became a strong buy article
• Positive Sentiment: Credo’s latest quarter showed 114.7% year-over-year revenue growth to $479 million, beating expectations, while earnings also exceeded consensus. The results support the view that accelerating AI demand is helping the company grow into its historically high valuation. Credo revenue outlook article
• Positive Sentiment: The launch of the 1.6T ZeroFlap Active Light Cable and Credo’s work on an Open Compute Project standard for short-reach micro-emitter optics could expand its optical-connectivity opportunity as data-center bandwidth requirements increase. Credo expands AI connectivity portfolio article
• Neutral Sentiment: Rosenblatt Securities reaffirmed a “neutral” rating but raised its price target to $235, implying substantial upside from recent levels. The broader analyst consensus remains bullish, although targets have been reduced by some firms. Credo analyst ratings
• Negative Sentiment: CRDO has declined alongside AI-infrastructure peers, including Astera Labs, with no new operational deterioration identified. The move appears linked to profit-taking and sensitivity to AI-spending sentiment. Credo stock decline analysis
• Negative Sentiment: CFO Daniel Fleming, CTO Chi Cheng and director Pantas Sutardja reported stock sales totaling roughly $8.0 million. The transactions were made under pre-arranged Rule 10b5-1 plans and represented small portions of their remaining holdings, but the selling may weigh on sentiment.
• Negative Sentiment: Investors remain concerned about CRDO’s premium valuation and dependence on two major customers. Any delay in scaling newer optical products could make the stock vulnerable if its exceptional growth rate slows. Credo valuation and customer concentration article

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.