Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives $126.27 Average PT from Analysts

Key Points

• Credo Technology Group (NASDAQ:CRDO) has received a consensus rating of "Buy" from 15 research firms, with an average 1-year price target of $126.27.
• Recent insider trading saw CEO William Joseph Brennan selling 150,000 shares at an average price of $106.87, reducing his ownership by 6.78%.
• The company reported a revenue of $223.07 million for the last quarter, significantly exceeding the consensus estimate, even as it missed earnings expectations.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) has been assigned an average rating of "Buy" from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Thirteen investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $126.2727.

CRDO has been the subject of a number of analyst reports. Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a report on Thursday, September 4th. Stifel Nicolaus set a $155.00 price target on Credo Technology Group in a research report on Thursday, September 4th. TD Cowen upped their price objective on Credo Technology Group from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Needham & Company LLC boosted their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Finally, Mizuho upped their price objective on Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th.

Credo Technology Group Trading Down 2.9%

NASDAQ CRDO traded down $4.73 during midday trading on Friday, hitting $159.37. The company had a trading volume of 3,258,723 shares, compared to its average volume of 5,276,851. Credo Technology Group has a twelve month low of $28.75 and a twelve month high of $176.70. The company has a market capitalization of $27.57 billion, a PE ratio of 239.12 and a beta of 2.59. The firm has a 50-day moving average price of $124.32 and a 200-day moving average price of $82.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same period last year, the firm posted $0.04 EPS. Credo Technology Group's quarterly revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities analysts anticipate that Credo Technology Group will post 0.13 EPS for the current year.

Insider Buying and Selling

In related news, CEO William Joseph Brennan sold 150,000 shares of Credo Technology Group stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the transaction, the chief executive officer directly owned 2,061,978 shares of the company's stock, valued at $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $107.12, for a total transaction of $5,891,600.00. Following the sale, the chief technology officer directly owned 7,108,961 shares in the company, valued at $761,511,902.32. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 756,163 shares of company stock worth $88,943,253. Corporate insiders own 11.84% of the company's stock.

Hedge Funds Weigh In On Credo Technology Group

A number of hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in Credo Technology Group by 3.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company's stock valued at $341,000 after purchasing an additional 126 shares during the period. Blue Trust Inc. boosted its holdings in shares of Credo Technology Group by 3.9% in the second quarter. Blue Trust Inc. now owns 4,108 shares of the company's stock valued at $380,000 after acquiring an additional 154 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Credo Technology Group by 32.4% in the second quarter. Signaturefd LLC now owns 703 shares of the company's stock valued at $65,000 after acquiring an additional 172 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of Credo Technology Group by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the company's stock valued at $1,086,000 after acquiring an additional 192 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Credo Technology Group by 21.5% in the first quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock valued at $56,000 after acquiring an additional 245 shares in the last quarter. Hedge funds and other 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.