Credo Technology Group (NASDAQ:CRDO) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Credo Technology Group shares reached a new 52-week high after Susquehanna upgraded their price target from $115.00 to $165.00.
• Recent assessments showed a majority of analysts have given the stock a positive rating, with one analyst rating it as a Strong Buy and twelve others issuing Buy ratings.
• The company reported a significant year-over-year revenue increase of 273.6%, despite missing earnings estimates in its latest quarterly report.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday after Susquehanna raised their price target on the stock from $115.00 to $165.00. Susquehanna currently has a positive rating on the stock. Credo Technology Group traded as high as $140.00 and last traded at $137.51, with a volume of 634007 shares trading hands. The stock had previously closed at $124.77.

CRDO has been the topic of several other reports. Noble Financial raised Credo Technology Group to a "strong-buy" rating in a research report on Tuesday, June 3rd. Stifel Nicolaus set a $155.00 price target on Credo Technology Group in a research report on Thursday. Roth Capital set a $95.00 price target on Credo Technology Group and gave the company a "buy" rating in a research report on Friday, June 13th. Mizuho raised their price target on Credo Technology Group from $112.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. Finally, TD Cowen raised their price target on Credo Technology Group from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $118.55.

Insider Activity at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 3,790 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $97.29, for a total value of $368,729.10. Following the completion of the sale, the chief financial officer owned 582,428 shares in the company, valued at approximately $56,664,420.12. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pantas Sutardja sold 1,875 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $107.00, for a total transaction of $200,625.00. Following the completion of the sale, the director owned 5,898,652 shares of the company's stock, valued at approximately $631,155,764. The trade was a 0.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,136,152 shares of company stock worth $102,714,411 in the last three months. Corporate insiders own 11.84% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRDO. Operose Advisors LLC increased its holdings in shares of 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. acquired a new stake in shares of Credo Technology Group during the first quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group during the first quarter worth approximately $27,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Credo Technology Group in the second quarter valued at approximately $27,000. Finally, Harbour Investments Inc. acquired a new stake in shares of Credo Technology Group in the first quarter valued at approximately $29,000. Institutional investors own 80.46% of the company's stock.

Credo Technology Group Stock Up 12.4%

The firm has a market cap of $24.25 billion, a price-to-earnings ratio of 512.69, a price-to-earnings-growth ratio of 2.21 and a beta of 2.59. The business's fifty day moving average is $107.66 and its two-hundred day moving average is $72.98.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The company had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a net margin of 11.95% and a return on equity of 8.77%. The business's revenue for the quarter was up 273.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

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.

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