Credo Technology Group (NASDAQ:CRDO) Given New $175.00 Price Target at Susquehanna

Key Points

• Credo Technology Group had its price target raised from $165.00 to $175.00 by Susquehanna, indicating a potential upside of 20.38% based on the previous close.
• The stock has received positive ratings, with two analysts rating it as a Strong Buy, thirteen as a Buy, and one as a Hold, leading to an average price target of $140.36.
• Recent insider transactions included the CEO and CFO selling significant shares, reducing their positions by 2.66% and 19.71%, respectively, amidst increased institutional interest in the stock.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) had its target price lifted by investment analysts at Susquehanna from $165.00 to $175.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a "positive" rating on the stock. Susquehanna's price objective indicates a potential upside of 20.38% from the company's previous close.

CRDO has been the subject of several other research reports. Wall Street Zen raised shares of Credo Technology Group from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Stifel Nicolaus set a $160.00 price objective on shares of Credo Technology Group in a research report on Wednesday, October 1st. 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. Cowen reissued a "buy" rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Finally, Needham & Company LLC increased their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Credo Technology Group presently has a consensus rating of "Buy" and an average price target of $140.36.

Credo Technology Group Stock Up 0.8%

Shares of Credo Technology Group stock traded up $1.21 during trading hours on Wednesday, hitting $145.38. The company's stock had a trading volume of 480,091 shares, compared to its average volume of 5,362,098. Credo Technology Group has a 1-year low of $29.09 and a 1-year high of $176.70. The business has a fifty day moving average of $139.84 and a 200 day moving average of $96.67. The company has a market capitalization of $25.15 billion, a PE ratio of 216.69 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the company earned $0.04 EPS. Credo Technology Group's revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 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.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 9,476 shares of the firm's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $140.06, for a total transaction of $1,327,208.56. Following the completion of the transaction, the chief executive officer directly owned 347,399 shares of the company's stock, valued at $48,656,703.94. This trade represents a 2.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel W. Fleming sold 112,580 shares of the firm's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the transaction, the chief financial officer directly owned 458,678 shares of the company's stock, valued at approximately $63,389,299.60. This represents a 19.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 951,589 shares of company stock worth $129,883,163. 11.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Realta Investment Advisors bought a new position in shares of Credo Technology Group in the 2nd quarter worth about $300,000. Janney Montgomery Scott LLC lifted its position in shares of Credo Technology Group by 27.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock worth $270,000 after buying an additional 1,467 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Credo Technology Group by 850.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company's stock worth $383,000 after buying an additional 3,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credo Technology Group in the 1st quarter worth about $27,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Credo Technology Group by 464.4% in the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock worth $1,405,000 after buying an additional 28,788 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.