Credo Technology Group (NASDAQ:CRDO) Now Covered by Jefferies Financial Group

Key Points

• Jefferies initiated coverage on Credo Technology Group (CRDO) with a "buy" rating and a $175 price target (≈46% upside); consensus among analysts is "Buy" with an average target of $204.38.
• Recent results were strong: Credo beat EPS ($1.07 vs. $0.78) and revenue ($407.0M vs. $385.9M), with revenue up 201.5% year‑over‑year and a 31.8% net margin.
• Notable insider selling: the CEO and CTO sold sizable stakes and insiders sold 391,119 shares (~$46.5M) in the last 90 days, while insiders still own ~11.84% and institutions own ~80.46%.

Equities researchers at Jefferies Financial Group began coverage on shares of Credo Technology Group (NASDAQ:CRDO - Get Free Report) in a research note issued on Monday,Benzinga reports. The brokerage set a "buy" rating and a $175.00 price target on the stock. Jefferies Financial Group's price target suggests a potential upside of 46.09% from the stock's previous close.

A number of other brokerages have also recently weighed in on CRDO. The Goldman Sachs Group set a $165.00 price objective on shares of Credo Technology Group and gave the stock a "buy" rating in a research note on Thursday, February 19th. Mizuho reduced their price objective on shares of Credo Technology Group from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, March 3rd. Roth Mkm reduced their price objective on shares of Credo Technology Group from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. Stifel Nicolaus set a $200.00 price objective on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $204.38.

Credo Technology Group Stock Up 0.2%

NASDAQ CRDO opened at $119.79 on Monday. The stock has a market capitalization of $22.09 billion, a PE ratio of 66.55 and a beta of 2.72. The company has a 50 day moving average price of $111.31 and a two-hundred day moving average price of $136.78. Credo Technology Group has a 12-month low of $33.04 and a 12-month high of $213.80.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.29. The firm had revenue of $407.01 million during the quarter, compared to analysts' expectations of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The company's revenue was up 201.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, equities analysts anticipate that Credo Technology Group will post 0.13 EPS for the current year.

Insiders Place Their Bets

In related news, CEO William Joseph Brennan sold 50,000 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares of the company's stock, valued at approximately $209,764,835.36. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 30,000 shares of the business's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $136.33, for a total transaction of $4,089,900.00. Following the transaction, the chief technology officer directly owned 6,327,370 shares in the company, valued at $862,610,352.10. This trade represents a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 391,119 shares of company stock worth $46,493,731 in the last ninety days. 11.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC increased its holdings in Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after buying an additional 106 shares during the period. Reflection Asset Management bought a new stake in Credo Technology Group in the 4th quarter valued at $25,000. Atlantic Union Bankshares Corp bought a new stake in Credo Technology Group in the 3rd quarter valued at $25,000. Acumen Wealth Advisors LLC bought a new stake in Credo Technology Group in the 4th quarter valued at $25,000. Finally, First Horizon Corp bought a new stake in Credo Technology Group in the 3rd quarter valued at $26,000. Institutional investors own 80.46% of the company's stock.

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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