Credo Technology Group (NASDAQ:CRDO) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Credo Technology Group (NASDAQ:CRDO) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Several other analysts have also commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. William Blair started coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They issued an “outperform” rating on the stock. Roth Capital reissued a “buy” rating and issued a $170.00 price target on shares of Credo Technology Group in a research report on Tuesday, September 30th. Finally, Mizuho boosted their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.36.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $173.16 on Tuesday. The stock has a market cap of $29.96 billion, a PE ratio of 258.45 and a beta of 2.62. Credo Technology Group has a fifty-two week low of $29.09 and a fifty-two week high of $193.50. The firm’s 50-day simple moving average is $150.54 and its 200 day simple moving average is $106.75.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The business’s revenue was up 273.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, analysts predict that Credo Technology Group will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In related news, Director Manpreet Khaira sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $149.67, for a total transaction of $748,350.00. Following the sale, the director owned 58,574 shares of the company’s stock, valued at approximately $8,766,770.58. This represents a 7.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Yat Tung Lam sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $169.27, for a total transaction of $13,541,600.00. Following the sale, the chief operating officer directly owned 770,000 shares in the company, valued at $130,337,900. This trade represents a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 973,161 shares of company stock worth $149,011,579 in the last ninety days. Insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors have recently made changes to their positions in CRDO. Teacher Retirement System of Texas increased its holdings in shares of Credo Technology Group by 464.4% in the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock worth $1,405,000 after buying an additional 28,788 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Credo Technology Group in the 1st quarter worth $548,000. Optimum Investment Advisors bought a new position in shares of Credo Technology Group in the 1st quarter worth $52,000. Allworth Financial LP increased its holdings in shares of Credo Technology Group by 216.8% in the 1st quarter. Allworth Financial LP now owns 2,807 shares of the company’s stock worth $119,000 after buying an additional 1,921 shares during the last quarter. Finally, Xponance Inc. increased its holdings in shares of Credo Technology Group by 9.2% in the 1st quarter. Xponance Inc. now owns 11,165 shares of the company’s stock worth $448,000 after buying an additional 937 shares during the last quarter. Institutional investors own 80.46% 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.