Credo Technology Group (NASDAQ:CRDO) Coverage Initiated at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage on Credo Technology Group (NASDAQ:CRDO) with an "overweight" rating and a price target of $165.00, indicating a potential upside of 20.85% from the previous close.
• Other analysts, including Barclays and Mizuho, have also issued positive ratings with price targets ranging from $155.00 to $165.00, suggesting a consensus average target price of $131.58.
• Credo Technology Group reported a significant revenue increase of 273.6% year-over-year, with quarterly revenue reaching $223.07 million, although it missed EPS estimates by $0.02.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Credo Technology Group (NASDAQ:CRDO - Get Free Report) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set an "overweight" rating and a $165.00 price target on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 20.85% from the stock's previous close.

Other equities analysts have also issued reports about the company. Barclays reissued an "overweight" rating and issued a $165.00 price target on shares of Credo Technology Group in a research note on Tuesday, October 7th. Mizuho boosted their price target on Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Wall Street Zen raised Credo Technology Group from a "hold" rating to a "buy" rating in a research note on Sunday, September 28th. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 8th. Finally, Cowen reissued a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Credo Technology Group has an average rating of "Buy" and a consensus target price of $131.58.

Credo Technology Group Price Performance

Credo Technology Group stock opened at $136.53 on Friday. The stock's 50 day moving average is $138.34 and its 200 day moving average is $94.04. The firm has a market cap of $23.62 billion, a P/E ratio of 203.78 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.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same period in the prior year, the firm earned $0.04 earnings per share. Credo Technology Group's revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts anticipate that Credo Technology Group will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In related news, Director Manpreet Khaira sold 5,000 shares of the company's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $149.67, for a total transaction of $748,350.00. Following the completion of the sale, the director owned 58,574 shares in the company, valued at approximately $8,766,770.58. This represents a 7.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the company's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $148.08, for a total value of $8,144,400.00. Following the sale, the chief technology officer owned 6,778,961 shares of the company's stock, valued at $1,003,828,544.88. This trade represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,006,589 shares of company stock valued at $135,192,863 in the last three months. Insiders own 11.84% of the company's stock.

Institutional Investors Weigh In On Credo Technology Group

Several institutional investors have recently bought and sold shares of CRDO. Operose Advisors LLC grew its holdings in Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after buying an additional 252 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Credo Technology Group during the first quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Credo Technology Group in the 1st quarter valued at $27,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Credo Technology Group in the 2nd quarter valued at $27,000. Finally, Harbour Investments Inc. bought a new position in Credo Technology Group in the 1st quarter valued at $29,000. Institutional investors own 80.46% of the company's stock.

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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