Credo Technology Group (NASDAQ:CRDO) Sets New 52-Week High - What's Next?

Key Points

• Credo Technology Group (NASDAQ: CRDO) reached a new 52-week high of $151.72, closing at $149.03 with a trading volume of over 4.26 million shares.
• Analysts have set varying price target increases for CRDO, with Barclays raising its target to $165.00 and Mizuho to $155.00, while the stock holds a consensus rating of "Buy."
• Despite reporting EPS of $0.34 for the latest quarter, below the consensus estimate of $0.36, revenue surged to $223.07 million, marking a 273.6% increase year-over-year.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $151.72 and last traded at $149.03, with a volume of 4262516 shares changing hands. The stock had previously closed at $147.53.

Wall Street Analyst Weigh In

CRDO has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $155.00 price objective on Credo Technology Group in a report on Thursday, September 4th. Barclays upped their target price on shares of Credo Technology Group from $85.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Mizuho upped their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Needham & Company LLC upped their target price 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, Wall Street Zen upgraded shares of Credo Technology Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $126.27.

Credo Technology Group Stock Performance

The firm has a market cap of $25.78 billion, a P/E ratio of 222.43 and a beta of 2.59. The firm's fifty day moving average price is $111.71 and its 200 day moving average price is $74.98.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. During the same quarter in the prior year, the firm posted $0.04 EPS. The company's revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In other news, Director Lip Bu Tan sold 171,473 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $77.90, for a total value of $13,357,746.70. Following the completion of the transaction, the director directly owned 613,725 shares of the company's stock, valued at approximately $47,809,177.50. The trade was a 21.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Joseph Brennan sold 150,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,061,978 shares of the company's stock, valued at approximately $220,363,588.86. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,082,444 shares of company stock valued at $99,727,097. Corporate insiders own 11.84% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Credo Technology Group in the 2nd quarter worth approximately $27,000. Wolff Wiese Magana LLC grew its position in shares of Credo Technology Group by 200.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 450 shares of the company's stock worth $42,000 after buying an additional 300 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in shares of Credo Technology Group by 278.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 473 shares of the company's stock worth $44,000 after buying an additional 348 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Credo Technology Group by 198.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock worth $46,000 after buying an additional 333 shares during the last quarter. Finally, Operose Advisors LLC grew its position in shares of Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after buying an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

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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