Credo Technology Group (NASDAQ:CRDO) Price Target Raised to $252.00 at Bank of America

Key Points

• Bank of America raised its price target on Credo Technology Group from $210 to $252 and kept a buy rating, implying about 11.5% upside from the previous close.
• Credo’s latest quarter beat expectations, with EPS of $1.16 versus about $1.02 expected and revenue of $437 million versus $431.8 million estimated. Revenue jumped 157% year over year.
• Analyst sentiment remains broadly positive: several firms recently lifted targets or ratings, and MarketBeat shows a Buy consensus with an average price target of $229.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) had its price objective upped by analysts at Bank of America from $210.00 to $252.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price objective would indicate a potential upside of 11.46% from the stock's previous close.

Other analysts also recently issued reports about the company. Rothschild & Co Redburn assumed coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a "buy" rating and a $206.00 price objective for the company. Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Needham & Company LLC increased their price target on Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a research report on Monday. Weiss Ratings upgraded Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $270.00 price objective on shares of Credo Technology Group in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $229.59.

Credo Technology Group Trading Down 4.2%

CRDO opened at $226.10 on Tuesday. The company's fifty day moving average price is $160.55 and its two-hundred day moving average price is $145.28. Credo Technology Group has a 1-year low of $59.88 and a 1-year high of $243.21. The company has a market cap of $41.70 billion, a price-to-earnings ratio of 125.61 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The firm had revenue of $437.00 million during the quarter, compared to analysts' expectations of $431.80 million. During the same period last year, the company earned $0.20 earnings per share. The business's revenue was up 157.0% on a year-over-year basis. As a group, equities analysts forecast that Credo Technology Group will post 2.36 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total value of $5,884,000.00. Following the sale, 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 accessible through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the completion of the transaction, the chief technology officer owned 6,272,370 shares in the company, valued at approximately $737,630,712. The trade was a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 386,608 shares of company stock worth $50,371,351 over the last three months. 11.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Credo Technology Group

Large investors have recently modified their holdings of the stock. Corient Private Wealth LLC increased its position in Credo Technology Group by 239,024.5% in the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company's stock worth $517,835,000 after buying an additional 3,597,318 shares during the last quarter. Amundi lifted its position in shares of Credo Technology Group by 28,478.2% during the 4th quarter. Amundi now owns 1,559,796 shares of the company's stock valued at $224,439,000 after buying an additional 1,554,338 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Credo Technology Group by 841.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company's stock worth $228,979,000 after acquiring an additional 1,422,391 shares during the period. Bank of America Corp DE increased its holdings in Credo Technology Group by 161.5% in the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock worth $331,710,000 after acquiring an additional 1,406,752 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in Credo Technology Group in the 3rd quarter valued at about $183,553,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Key Credo Technology Group News

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo beat expectations in Q4, reporting EPS of $1.16 versus estimates around $1.02-$1.03 and revenue of $437.0 million versus consensus of $431.8 million. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Revenue surged 157% year over year, underscoring strong demand for its high-speed connectivity products tied to AI data center buildouts. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Mizuho raised its price target on CRDO to $260 from $220 and kept an outperform rating, signaling continued analyst confidence after the results. Credo Technology Stock Dives Despite Q4 Earnings Beat
• Neutral Sentiment: The company guided first-quarter fiscal 2027 revenue to $465 million-$475 million, above the Street estimate of about $462.9 million, but the EPS outlook was not clearly provided in the report. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Negative Sentiment: Despite the strong print, the stock fell in after-hours trading, suggesting investors were disappointed by gross margin or other forward-looking concerns and may be taking profits after a large run-up. Credo Technology Stock Dives Despite Q4 Earnings Beat

Credo Technology Group Company Profile

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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