Credo Technology Group (NASDAQ:CRDO) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• Credo Technology Group received a "hold (c)" rating from Weiss Ratings, with a consensus rating of "buy" from other analysts.
• The company's stock price hit $148.87, with a year-over-year revenue increase of 273.6% following a quarter report that highlighted $223.07 million in revenue, above analysts' expectations.
• Insider transactions included CEO William Joseph Brennan selling 150,000 shares, reducing his holdings by 6.78%, while institutional investors own 80.46% of the company's stock.

Credo Technology Group (NASDAQ:CRDO - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently issued reports on CRDO. William Blair started coverage on Credo Technology Group in a research report on Thursday, September 18th. They set an "outperform" rating on the stock. TD Cowen began coverage on shares of Credo Technology Group in a report on Wednesday, October 1st. They issued a "buy" rating and a $170.00 price objective for the company. Cowen reissued a "buy" rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Needham & Company LLC boosted their price target on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Finally, Stifel Nicolaus set a $160.00 price objective on Credo Technology Group in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $128.55.

Credo Technology Group Stock Performance

CRDO traded up $11.67 on Wednesday, hitting $148.87. 6,687,379 shares of the company were exchanged, compared to its average volume of 5,888,580. The stock's fifty day moving average is $135.21 and its 200-day moving average is $90.11. The company has a market cap of $25.75 billion, a PE ratio of 222.19 and a beta of 2.60. Credo Technology Group has a 12 month low of $29.09 and a 12 month high of $176.70.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. During the same quarter last year, the business 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. As a group, equities research analysts expect that Credo Technology Group will post 0.13 EPS for the current fiscal year.

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the sale, the chief executive officer directly owned 2,061,978 shares of the company's stock, valued at $220,363,588.86. This trade represents a 6.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $146.21, for a total transaction of $8,041,550.00. Following the transaction, the chief technology officer directly owned 7,053,961 shares in the company, valued at approximately $1,031,359,637.81. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 878,915 shares of company stock worth $114,552,445. Corporate insiders own 11.84% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Credo Technology Group by 6.7% during the third quarter. GAMMA Investing LLC now owns 1,891 shares of the company's stock worth $275,000 after buying an additional 118 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Credo Technology Group by 3.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company's stock valued at $341,000 after purchasing an additional 126 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Credo Technology Group by 3.9% during the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company's stock valued at $380,000 after purchasing an additional 154 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Credo Technology Group by 32.4% during the 2nd quarter. Signaturefd LLC now owns 703 shares of the company's stock valued at $65,000 after purchasing an additional 172 shares in the last quarter. Finally, Main Management ETF Advisors LLC lifted its holdings in shares of Credo Technology Group by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the company's stock valued at $1,086,000 after purchasing an additional 192 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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