Credo Technology Group (NASDAQ:CRDO) Coverage Initiated at TD Cowen

Equities research analysts at TD Cowen assumed coverage on shares of Credo Technology Group (NASDAQ:CRDO) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating and a $170.00 price target on the stock. TD Cowen’s target price points to a potential upside of 13.61% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. Roth Capital reissued a “buy” rating and set a $170.00 target price on shares of Credo Technology Group in a research report on Tuesday. Barclays lifted their target price on Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Stifel Nicolaus set a $155.00 target price on Credo Technology Group in a research report on Thursday, September 4th. Finally, Noble Financial raised Credo Technology Group to a “strong-buy” rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $128.55.

Credo Technology Group Price Performance

Credo Technology Group stock opened at $149.63 on Wednesday. The company has a market capitalization of $25.89 billion, a price-to-earnings ratio of 223.33 and a beta of 2.60. Credo Technology Group has a one year low of $29.09 and a one year high of $176.70. The company’s fifty day moving average price is $132.35 and its two-hundred day moving average price is $87.39.

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

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the completion of the transaction, the chief technology officer owned 7,328,961 shares in the company, valued at $673,824,674.34. This trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Joseph Brennan sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the transaction, the chief executive officer owned 2,061,978 shares of the company’s stock, valued at approximately $220,363,588.86. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 798,915 shares of company stock valued at $99,967,495. Corporate insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CRDO. Operose Advisors LLC raised its stake in shares of Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after acquiring an additional 252 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Credo Technology Group in the first quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credo Technology Group in the first quarter valued at approximately $27,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Credo Technology Group in the second quarter valued at approximately $27,000. Finally, Harbour Investments Inc. bought a new position in Credo Technology Group in the 1st quarter worth approximately $29,000. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

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.