Credo Technology Group's (CRDO) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Credo Technology Group received a "hold (c)" rating reiterated by Weiss Ratings, while several other analysts have set higher price targets ranging from $155.00 to $170.00.
• Despite a quarterly earnings miss with $0.34 EPS reported, Credo's revenue increased by 273.6% year-over-year, reaching $223.07 million.
• In recent months, significant insider selling occurred, with COO Yat Tung Lam and CEO William Joseph Brennan reducing their holdings, while institutional investors hold 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 research report issued on Friday,Weiss Ratings reports.

Other analysts have also recently issued reports about the company. Stifel Nicolaus set a $160.00 price target on Credo Technology Group in a report on Wednesday, October 1st. Mizuho upped their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Roth Capital reiterated a "buy" rating and set a $170.00 price target on shares of Credo Technology Group in a report on Tuesday, September 30th. JPMorgan Chase & Co. initiated coverage on shares of Credo Technology Group in a research note on Friday, October 17th. They issued an "overweight" rating and a $165.00 price objective on the stock. Finally, Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a report on Thursday, September 4th. Two 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $140.36.

Credo Technology Group Stock Performance

Shares of Credo Technology Group stock traded up $4.58 during midday trading on Friday, hitting $155.55. 6,038,555 shares of the company traded hands, compared to its average volume of 6,174,107. The firm's fifty day moving average price is $141.61 and its 200-day moving average price is $98.57. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of 232.16 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 released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share 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 analyst estimates 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 period last year, the business earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts forecast that Credo Technology Group will post 0.13 earnings per share for the current year.

Insider Activity at Credo Technology Group

In related news, COO Yat Tung Lam sold 80,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total value of $11,482,400.00. Following the completion of the transaction, the chief operating officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Joseph Brennan sold 150,000 shares of the business's stock in a transaction on 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 in the company, valued at $220,363,588.86. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,076,589 shares of company stock valued at $147,776,163 in the last ninety days. Insiders own 11.84% of the company's stock.

Institutional Investors Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of Credo Technology Group by 36.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company's stock valued at $602,662,000 after acquiring an additional 1,739,844 shares during the last quarter. Nuveen LLC bought a new position in shares of Credo Technology Group in the first quarter worth approximately $52,636,000. Alliancebernstein L.P. raised its stake in Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock valued at $283,778,000 after purchasing an additional 1,218,504 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in Credo Technology Group in the second quarter worth about $82,479,000. Finally, Swedbank AB grew its holdings in shares of Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company's stock worth $129,280,000 after acquiring an additional 733,811 shares during the period. 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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