Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Credo Technology Group has a consensus analyst rating of “Moderate Buy”, with 16 buy ratings, 2 hold ratings, and 1 strong buy rating among 19 firms covering the stock.
• Several analysts turned more bullish recently: Evercore initiated coverage with an Outperform rating and a $325 target, while Stifel raised its target to $350 and reiterated a Buy rating.
• The company also reported strong quarterly results, posting $1.16 EPS and $437 million in revenue, both above estimates, with revenue up 157% year over year amid optimism around AI data-center demand.

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $258.2222.

Several analysts have weighed in on CRDO shares. Evercore started coverage on Credo Technology Group in a report on Monday. They set an "outperform" rating and a $325.00 price objective for the company. Roth Mkm boosted their price objective on Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Rosenblatt Securities boosted their price objective on Credo Technology Group from $175.00 to $215.00 and gave the stock a "neutral" rating in a report on Tuesday, June 2nd. Finally, Bank of America boosted their price objective on Credo Technology Group from $210.00 to $252.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd.

Insider Buying and Selling

In other news, Director Sylvia Acevedo sold 2,208 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $211.00, for a total value of $465,888.00. Following the completion of the sale, the director directly owned 16,337 shares of the company's stock, valued at $3,447,107. This represents a 11.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel W. Fleming sold 40,000 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the sale, the chief financial officer directly owned 501,873 shares of the company's stock, valued at approximately $125,207,276.04. This trade represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 389,384 shares of company stock worth $70,041,518 over the last quarter. Insiders own 11.84% of the company's stock.

Institutional Trading of Credo Technology Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in shares of Credo Technology Group by 32.6% in the 1st quarter. Pacer Advisors Inc. now owns 22,736 shares of the company's stock valued at $2,134,000 after acquiring an additional 5,585 shares during the last quarter. PVG Asset Management Corp bought a new stake in shares of Credo Technology Group in the 1st quarter valued at about $84,000. Carmignac Gestion bought a new stake in shares of Credo Technology Group in the 1st quarter valued at about $34,216,000. NewEdge Advisors LLC increased its stake in shares of Credo Technology Group by 24.1% in the 1st quarter. NewEdge Advisors LLC now owns 5,883 shares of the company's stock valued at $552,000 after acquiring an additional 1,141 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its stake in Credo Technology Group by 2.0% during the 1st quarter. Glenmede Trust Co. NA now owns 5,706 shares of the company's stock worth $536,000 after purchasing an additional 114 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

More Credo Technology Group News

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

• Positive Sentiment: Evercore ISI initiated coverage with an Outperform rating and a $325 price target, calling Wall Street too conservative on Credo’s long-term opportunity as it expands beyond copper into AI networking infrastructure. Evercore Says Wall Street Is 40% Too Low on Credo
• Positive Sentiment: Stifel also raised its price target on CRDO to $350 and reiterated a Buy rating, adding to the bullish analyst momentum. Why Is Credo Technology Stock Soaring Monday?
• Positive Sentiment: Investors are also responding to Credo’s strong recent operating results, including sharply higher revenue, solid profitability, and management’s upbeat outlook tied to AI data-center demand and optical growth. Credo Stock Spikes To Record High On Bullish Reports
• Neutral Sentiment: The stock has been setting record highs as traders continue to price in Credo’s expansion into high-speed interconnect products, including optical solutions that could broaden its AI infrastructure market opportunity.

Credo Technology Group Trading Up 11.3%

Shares of NASDAQ:CRDO opened at $302.52 on Tuesday. The stock has a market capitalization of $56.41 billion, a P/E ratio of 121.98, a P/E/G ratio of 1.43 and a beta of 3.22. Credo Technology Group has a 1-year low of $81.72 and a 1-year high of $308.67. The business has a 50-day moving average price of $203.74 and a two-hundred day moving average price of $154.84.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.14. The firm had revenue of $437.00 million during the quarter, compared to analysts' expectations of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company's quarterly revenue was up 157.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. As a group, equities analysts predict that Credo Technology Group will post 4.84 EPS for the current year.

About Credo Technology Group

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.

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