Credo Technology Group (NASDAQ:CRDO) Stock Price Down 1.4% - What's Next?

Key Points

• Credo Technology Group's stock price dropped 1.4% to $142.93, with trading volume down 9% compared to the average session.
• Multiple analysts have revised their price targets for the stock, with new targets ranging from $150.00 to $165.00, indicating a generally positive outlook.
• In the latest earnings report, Credo Technology Group reported a 273.6% increase in revenue year-over-year, reflecting strong growth despite missing EPS estimates.

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) traded down 1.4% during trading on Friday . The company traded as low as $139.25 and last traded at $142.93. 4,834,370 shares changed hands during trading, a decline of 9% from the average session volume of 5,304,949 shares. The stock had previously closed at $144.94.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Noble Financial raised Credo Technology Group to a "strong-buy" rating in a research note on Tuesday, June 3rd. Needham & Company LLC lifted their price objective on Credo Technology Group from $85.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Roth Capital lifted their price objective on Credo Technology Group from $95.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Barclays lifted their price objective on Credo Technology Group from $85.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Finally, Stifel Nicolaus set a $155.00 price objective on Credo Technology Group in a research note on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $126.27.

Credo Technology Group Price Performance

The stock has a market cap of $24.73 billion, a P/E ratio of 213.33 and a beta of 2.59. The company has a fifty day moving average price of $127.41 and a 200 day moving average price of $83.97.

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

Insiders Place Their Bets

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the company's stock in a transaction on 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 owned 7,108,961 shares in the company, valued at $761,511,902.32. This represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Joseph Brennan sold 150,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were 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 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 disclosure for this sale can be found here. Insiders sold a total of 798,915 shares of company stock valued at $96,875,395 in the last 90 days. Corporate insiders own 11.84% of the company's stock.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in Credo Technology Group by 3.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company's stock worth $341,000 after purchasing an additional 126 shares during the period. Blue Trust Inc. boosted its stake in Credo Technology Group by 3.9% in the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company's stock worth $380,000 after purchasing an additional 154 shares during the period. Signaturefd LLC boosted its stake in Credo Technology Group by 32.4% in the 2nd quarter. Signaturefd LLC now owns 703 shares of the company's stock worth $65,000 after purchasing an additional 172 shares during the period. Main Management ETF Advisors LLC boosted its stake in Credo Technology Group by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the company's stock worth $1,086,000 after purchasing an additional 192 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock worth $56,000 after purchasing an additional 245 shares during the period. 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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