Credo Technology Group (NASDAQ:CRDO) Announces Quarterly Earnings Results

Key Points

• Credo Technology Group reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01).
• The stock traded up to $124.77, with a market capitalization of $21.58 billion, following significant trading volumes.
• Several analysts have issued "buy" ratings for Credo Technology Group, with price targets ranging from $85.00 to $135.00, indicating strong investor interest.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02), Zacks reports. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%.The firm's revenue for the quarter was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 earnings per share. Credo Technology Group updated its Q2 2026 guidance to EPS.

Credo Technology Group Trading Up 0.4%

NASDAQ CRDO traded up $0.50 during trading on Wednesday, hitting $124.77. 8,664,064 shares of the company's stock were exchanged, compared to its average volume of 5,183,211. Credo Technology Group has a fifty-two week low of $24.08 and a fifty-two week high of $134.35. The company has a market cap of $21.58 billion, a PE ratio of 462.11, a P/E/G ratio of 2.21 and a beta of 2.59. The stock's 50 day moving average price is $107.66 and its two-hundred day moving average price is $72.98.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of research reports. Roth Capital set a $95.00 target price on shares of Credo Technology Group and gave the stock a "buy" rating in a research note on Friday, June 13th. Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a research report on Tuesday, June 3rd. Needham & Company LLC raised their price target on shares of Credo Technology Group from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Mizuho boosted their price objective on Credo Technology Group from $112.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Finally, Susquehanna increased their price objective on Credo Technology Group from $90.00 to $115.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $92.64.

Insider Activity

In other Credo Technology Group news, Director Pantas Sutardja sold 1,875 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $107.00, for a total transaction of $200,625.00. Following the sale, the director owned 5,898,652 shares of the company's stock, valued at $631,155,764. The trade was a 0.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daniel W. Fleming sold 3,790 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $97.29, for a total transaction of $368,729.10. Following the sale, the chief financial officer owned 582,428 shares of the company's stock, valued at approximately $56,664,420.12. The trade was a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,274,583 shares of company stock worth $113,118,257. Corporate insiders own 11.84% of the company's stock.

Institutional Investors Weigh In On Credo Technology Group

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its position in Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company's stock worth $284,000 after purchasing an additional 3,972 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after acquiring an additional 589,151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Credo Technology Group by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company's stock worth $12,480,000 after purchasing an additional 7,107 shares during the last quarter. CW Advisors LLC acquired a new position in shares of Credo Technology Group in the 2nd quarter worth approximately $288,000. Finally, EverSource Wealth Advisors LLC boosted its position in Credo Technology Group by 198.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock valued at $46,000 after purchasing an additional 333 shares during the period. Hedge funds and other 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.