Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Given Consensus Rating of "Buy" by Analysts

Key Points

• Credo Technology Group (NASDAQ:CRDO) has received a consensus rating of "Buy" from 13 analysts, with an average price target of $91.27.
• Insider selling has been notable; CEO William Joseph Brennan sold 46,444 shares, reducing his ownership by 10.56%, while CTO Chi Fung Cheng sold 55,000 shares.
• Institutional investors own approximately 80.46% of Credo Technology Group's stock, indicating strong institutional support.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) has received an average recommendation of "Buy" from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Twelve analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $91.2727.

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Credo Technology Group from $112.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Noble Financial upgraded shares of Credo Technology Group to a "strong-buy" rating in a report on Tuesday, June 3rd. Stifel Nicolaus upped their price objective on shares of Credo Technology Group from $80.00 to $115.00 and gave the company a "buy" rating in a report on Friday, July 18th. Susquehanna boosted their target price on shares of Credo Technology Group from $90.00 to $115.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen cut shares of Credo Technology Group from a "buy" rating to a "hold" rating in a research report on Sunday.

Insider Activity

In related news, CEO William Joseph Brennan sold 46,444 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $106.87, for a total transaction of $4,963,470.28. Following the completion of the sale, the chief executive officer owned 393,338 shares of the company's stock, valued at $42,036,032.06. This represents a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $107.12, for a total value of $5,891,600.00. Following the transaction, the chief technology officer directly owned 7,108,961 shares of the company's stock, valued at approximately $761,511,902.32. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,274,583 shares of company stock worth $113,118,257. 16.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRDO. Operose Advisors LLC increased 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 buying an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credo Technology Group in the 1st quarter worth $27,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Credo Technology Group in the 2nd quarter worth $27,000. Finally, Harbour Investments Inc. bought a new position in shares of Credo Technology Group in the 1st quarter worth $29,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Credo Technology Group Stock Performance

Shares of CRDO opened at $120.10 on Wednesday. Credo Technology Group has a twelve month low of $24.08 and a twelve month high of $128.56. The firm has a market cap of $20.61 billion, a P/E ratio of 444.81, a PEG ratio of 2.07 and a beta of 2.59. The firm's 50 day moving average price is $103.17 and its two-hundred day moving average price is $70.80.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Credo Technology Group had a net margin of 11.95% and a return on equity of 8.77%. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $159.59 million. During the same period last year, the company earned $0.07 earnings per share. The firm's revenue was up 179.6% compared to the same quarter last year. Credo Technology Group has set its Q1 2026 guidance at EPS. On average, sell-side analysts anticipate that Credo Technology Group will post 0.13 earnings per share for the current fiscal year.

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.

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