Credo Technology Group (NASDAQ:CRDO) Shares Up 5.1% - Time to Buy?

Key Points

• Credo Technology Group's shares increased by 5.1%, trading as high as $143.45 after closing at $136.53, though trading volume decreased by 12% from the average.
• Several research firms have set **high price targets** for Credo Technology Group, with Susquehanna and Roth Capital both targeting $170.00, while the stock has an average target price of **$131.58**.
• The company reported **$0.34 EPS**, missing estimates by $0.02, but achieved a revenue of **$223.07 million**, exceeding expectations by a significant margin.

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) shot up 5.1% during mid-day trading on Friday . The company traded as high as $142.72 and last traded at $143.45. 4,729,229 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 5,373,493 shares. The stock had previously closed at $136.53.

Analysts Set New Price Targets

A number of research firms have issued reports on CRDO. Susquehanna raised their target price on Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a research note on Thursday, September 4th. TD Cowen initiated coverage on shares of Credo Technology Group in a research note on Wednesday, October 1st. They set a "buy" rating and a $170.00 price objective on the stock. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a report on Wednesday, October 1st. William Blair initiated coverage on Credo Technology Group in a report on Thursday, September 18th. They set an "outperform" rating on the stock. Finally, Roth Capital reaffirmed a "buy" rating and set a $170.00 target price on shares of Credo Technology Group in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $131.58.

Credo Technology Group Stock Performance

The stock has a 50 day moving average of $138.34 and a two-hundred day moving average of $94.04. The stock has a market cap of $24.75 billion, a PE ratio of 214.71 and a beta of 2.60.

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 analysts' expectations of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The company's revenue for the quarter was up 273.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Yat Tung Lam sold 80,000 shares of Credo Technology Group stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the transaction, the chief operating officer owned 920,000 shares of the company's stock, valued at approximately $132,047,600. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $107.12, for a total value of $5,891,600.00. Following the completion of the transaction, the chief technology officer directly owned 7,108,961 shares in the company, valued at $761,511,902.32. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,006,589 shares of company stock worth $135,192,863. Company insiders own 11.84% of the company's stock.

Institutional Trading of Credo Technology Group

A number of hedge funds have recently made changes to their positions in CRDO. Chesapeake Asset Management LLC acquired a new stake in shares of Credo Technology Group during the third quarter worth approximately $158,000. Optivise Advisory Services LLC acquired a new stake in shares of Credo Technology Group during the third quarter worth approximately $382,000. FSM Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group during the third quarter worth approximately $219,000. Shaker Investments LLC OH acquired a new stake in shares of Credo Technology Group during the third quarter worth approximately $456,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Credo Technology Group during the third quarter worth approximately $201,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

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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