JPMorgan Chase & Co. Cuts Credo Technology Group (NASDAQ:CRDO) Price Target to $310.00

Credo Technology Group (NASDAQ:CRDO) had its price target reduced by JPMorgan Chase & Co. from $335.00 to $310.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Credo Technology Group in a report on Friday, August 21st. Needham & Company LLC boosted their price objective on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, June 1st. TD Cowen upped their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Rosenblatt Securities upped their price objective on shares of Credo Technology Group from $215.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $250.00 target price on shares of Credo Technology Group in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $267.39.

Credo Technology Group Stock Up 3.9%

Shares of CRDO stock opened at $170.57 on Wednesday. Credo Technology Group has a 12 month low of $86.49 and a 12 month high of $308.67. The firm has a market cap of $32.06 billion, a PE ratio of 60.70, a price-to-earnings-growth ratio of 0.67 and a beta of 3.22. The stock has a 50 day moving average of $230.31 and a 200-day moving average of $189.00.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $479.00 million for the quarter, compared to the consensus estimate of $473.30 million. During the same quarter last year, the company posted $0.52 earnings per share. Credo Technology Group’s quarterly revenue was up 114.7% on a year-over-year basis. As a group, equities analysts predict that Credo Technology Group will post 4.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Yat Lam sold 55,441 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $213.02, for a total value of $11,810,041.82. Following the completion of the transaction, the chief operating officer directly owned 2,529,169 shares of the company’s stock, valued at $538,763,580.38. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of Credo Technology Group stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $259.53, for a total transaction of $7,137,075.00. Following the sale, the chief technology officer owned 5,992,370 shares in the company, valued at $1,555,199,786.10. This represents a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 377,884 shares of company stock valued at $88,559,765 over the last ninety days. 9.06% of the stock is owned by company insiders.

Institutional Trading of Credo Technology Group

Several institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its position in Credo Technology Group by 128.4% in the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock worth $284,000 after purchasing an additional 3,972 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Credo Technology Group by 63.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after purchasing an additional 589,151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Credo Technology Group by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock valued at $12,480,000 after purchasing an additional 7,107 shares in the last quarter. CW Advisors LLC acquired a new stake in Credo Technology Group during the second quarter valued at approximately $288,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Credo Technology Group by 198.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after purchasing an additional 333 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Credo reported revenue of $479 million, up 115% year over year, while adjusted EPS of $1.20 exceeded the $1.17 consensus estimate. Management expects fiscal-year revenue growth of more than 85%, with optical revenue surpassing $600 million as a second growth engine develops. Why I Doubled Down On Credo
• Positive Sentiment: Bullish analysts argue that the market’s margin fears are overstated and that the optical business should scale meaningfully in the second half of fiscal 2027. DustPhotonics also expands Credo’s opportunities in silicon photonics, 800G, 1.6T and near-package optics. Credo And The Illusion Of Its Q1 Problems
• Positive Sentiment: Stifel Nicolaus reiterated a Buy view, while Rosenblatt raised its price target to $235, supporting the case that the recent valuation reset may have been excessive. Stifel Buy Rating
• Neutral Sentiment: Analysts remain divided. Bank of America lowered its price target to $275, while other analysts maintain bullish ratings, reflecting uncertainty over how quickly optical products will ramp and whether margins can stabilize. Bank of America Price Target
• Negative Sentiment: Bears point to shrinking gross margins, rising operating costs, approximately $88 million in quarterly stock-based compensation, insider selling and customer concentration exceeding 60% of revenue. They also question the durability of the optical outlook, competition from Marvell and the risk of slower hyperscaler capital spending after fiscal 2028. Credo: This Is Not A Buying Opportunity

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.