Mizuho Has Lowered Expectations for Credo Technology Group (NASDAQ:CRDO) Stock Price

Credo Technology Group (NASDAQ:CRDO) had its price target reduced by stock analysts at Mizuho from $290.00 to $245.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 27.23% from the company’s previous close.

Several other analysts have also issued reports on CRDO. Jefferies Financial Group increased their target price on Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Rosenblatt Securities upped their price objective on shares of Credo Technology Group from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Wall Street Zen lowered shares of Credo Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. One research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $264.89.

Credo Technology Group Price Performance

CRDO opened at $192.56 on Monday. The business has a fifty day simple moving average of $210.05 and a 200 day simple moving average of $193.70. 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 $36.19 billion, a PE ratio of 68.53, a price-to-earnings-growth ratio of 0.75 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $473.30 million. During the same quarter last year, the firm earned $0.52 earnings per share. The company’s revenue was up 114.7% on a year-over-year basis. Equities analysts anticipate that Credo Technology Group will post 5.02 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In related news, CEO William Brennan sold 16,672 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $151.88, for a total transaction of $2,532,143.36. Following the sale, the chief executive officer owned 1,600,830 shares in the company, valued at $243,134,060.40. The trade was a 1.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Fleming sold 7,580 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total value of $1,863,770.40. Following the completion of the transaction, the chief financial officer directly owned 504,708 shares of the company’s stock, valued at approximately $124,097,603.04. The trade was a 1.48% 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 90 days, insiders sold 302,246 shares of company stock worth $64,700,584. Insiders own 9.06% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC raised its stake in shares of Credo Technology Group by 19.0% during the second quarter. Sequoia Financial Advisors LLC now owns 6,659 shares of the company’s stock valued at $1,811,000 after acquiring an additional 1,063 shares during the last quarter. IPG Investment Advisors LLC acquired a new stake in Credo Technology Group in the second quarter valued at $3,078,000. Integrated Wealth Concepts LLC raised its position in Credo Technology Group by 68.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,962 shares of the company’s stock worth $4,341,000 after purchasing an additional 6,489 shares during the last quarter. NewEdge Advisors LLC raised its position in Credo Technology Group by 56.0% during the 2nd quarter. NewEdge Advisors LLC now owns 9,176 shares of the company’s stock worth $2,495,000 after purchasing an additional 3,293 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in Credo Technology Group during the 2nd quarter worth about $214,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Key Credo Technology Group News

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

• Positive Sentiment: Credo achieved PCI-SIG 6.x compliance for its Toucan retimer, strengthening its positioning in next-generation PCIe infrastructure and the expanding AI data-center market. Credo PCIe compliance article
• Positive Sentiment: The company’s new 1.6T ZeroFlap optics broaden its optical connectivity portfolio as management targets more than $600 million in fiscal 2027 optical revenue. This supports expectations for continued AI-related growth. Credo 1.6T optics article
• Positive Sentiment: Credo was added to the FTSE All-World Index, potentially increasing institutional visibility and demand from funds that track the benchmark. FTSE index inclusion article
• Positive Sentiment: Recent commentary points to triple-digit revenue growth, strong AI exposure and an earnings beat, leading some investors to view the stock’s decline from its highs as a potential buying opportunity. Credo growth outlook article
• Neutral Sentiment: Mizuho lowered its price target from $290 to $245 but retained an Outperform rating. The revision reflects greater valuation caution, although the target still indicates meaningful upside in the cited analysis. Mizuho Credo price target article
• Negative Sentiment: Bearish analysis warns that Credo’s premium valuation, customer concentration and execution requirements could cause additional weakness even as revenue expands rapidly. Bearish Credo analysis
• Negative Sentiment: Chief Technology Officer Chi Fung Cheng sold 27,500 shares worth approximately $4.6 million. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only 0.48%, limiting its significance but potentially weighing on sentiment. Credo CTO insider sale filing

About Credo Technology Group

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for the data infrastructure market. Its products are designed to help move data efficiently within and between networking, storage and computing systems, with applications in artificial intelligence, cloud computing, telecommunications and enterprise data centers.

The company’s portfolio includes serializer/deserializer (SerDes) integrated circuits, retimers, optical digital signal processors and active electrical cables.