Credo Technology Group (NASDAQ:CRDO) Price Target Raised to $165.00 at Susquehanna

Key Points

• Susquehanna analysts have increased the target price for Credo Technology Group (NASDAQ:CRDO) from $115.00 to $165.00, indicating a potential upside of 32.24% from the current stock price.
• Various research firms have recently issued positive ratings for CRDO, with Noble Financial upgrading it to a "strong-buy" and TD Cowen raising their price objective to $160.00.
• Despite a reported EPS miss of $0.34 against the consensus estimate of $0.36, Credo Technology Group's revenue surged by 273.6% year-over-year, reaching $223.07 million.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) had its price target upped by investment analysts at Susquehanna from $115.00 to $165.00 in a research note issued on Thursday, Marketbeat reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's price target would indicate a potential upside of 10.24% from the company's current price.

A number of other research firms have also weighed in on CRDO. TD Cowen boosted their target price on Credo Technology Group from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Barclays boosted their target price on Credo Technology Group from $85.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Stifel Nicolaus set a $155.00 price target on Credo Technology Group in a report on Thursday, September 4th. Mizuho boosted their price target on Credo Technology Group from $112.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Finally, Noble Financial upgraded Credo Technology Group to a "strong-buy" rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and a consensus target price of $126.27.

Credo Technology Group Trading Up 1.5%

Shares of NASDAQ CRDO traded up $2.14 during mid-day trading on Thursday, hitting $149.67. The company had a trading volume of 3,186,603 shares, compared to its average volume of 5,248,516. The company has a market capitalization of $25.89 billion, a price-to-earnings ratio of 223.12 and a beta of 2.59. Credo Technology Group has a 1 year low of $24.47 and a 1 year high of $151.72. The stock's 50-day moving average price is $110.49 and its 200-day moving average price is $74.46.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its 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 return on equity of 19.02% and a net margin of 20.85%.The business had revenue of $223.07 million for the quarter, compared to analysts' expectations of $190.63 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Credo Technology Group's quarterly revenue 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, equities research analysts forecast that Credo Technology Group will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the sale, the chief technology officer directly owned 7,328,961 shares of the company's stock, valued at $673,824,674.34. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lip Bu Tan sold 171,473 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $77.90, for a total transaction of $13,357,746.70. Following the completion of the sale, the director directly owned 613,725 shares in the company, valued at approximately $47,809,177.50. The trade was a 21.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,068,654 shares of company stock worth $97,805,783 over the last 90 days. Company insiders own 11.84% of the company's stock.

Institutional Trading of Credo Technology Group

A number of hedge funds have recently bought and sold shares of the business. Operose Advisors LLC grew its stake 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 valued at $25,000 after buying an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Credo Technology Group during the 1st quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credo Technology Group during the 1st quarter worth $27,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Credo Technology Group in the second quarter valued at about $27,000. Finally, Harbour Investments Inc. acquired a new position in Credo Technology Group during the first quarter worth about $29,000. Institutional investors and hedge funds 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.