Credo Technology Group's (CRDO) "Overweight" Rating Reiterated at Barclays

Key Points

• Credo Technology Group has had its "overweight" rating reaffirmed by Barclays, with a price target set at $165.00, indicating a potential upside of 19.05% from its previous close.
• The stock is currently down 6.0%, trading at $138.59, with a significant trading volume of over 5.6 million shares.
• Analysts have a consensus rating of Buy for Credo Technology Group, with the average price target around $128.55, showing optimism despite recent performance.

Credo Technology Group (NASDAQ:CRDO - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Barclays in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $165.00 price target on the stock. Barclays's price objective would indicate a potential upside of 19.05% from the stock's previous close.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus set a $160.00 price target on shares of Credo Technology Group in a research note on Wednesday, October 1st. Cowen restated a "buy" rating on shares of Credo Technology Group in a report on Thursday, September 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Credo Technology Group in a research note on Saturday, September 27th. Susquehanna raised their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a "positive" rating in a report on Thursday, September 4th. Finally, William Blair assumed coverage on Credo Technology Group in a research report on Thursday, September 18th. They set an "outperform" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $128.55.

Credo Technology Group Stock Down 6.0%

NASDAQ CRDO traded down $8.83 on Tuesday, hitting $138.59. The stock had a trading volume of 5,661,806 shares, compared to its average volume of 5,304,318. The company's 50-day moving average is $133.99 and its two-hundred day moving average is $89.37. Credo Technology Group has a one year low of $29.09 and a one year high of $176.70. The stock has a market cap of $23.98 billion, a price-to-earnings ratio of 206.73 and a beta of 2.60.

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

Insider Activity

In other Credo Technology Group 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 transaction of $11,482,400.00. Following the transaction, the chief operating officer owned 920,000 shares of the company's stock, valued at $132,047,600. The trade was a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Laufman sold 10,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the transaction, the insider owned 232,284 shares in the company, valued at $32,519,760. This represents a 4.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 823,915 shares of company stock worth $106,393,195. Corporate insiders own 11.84% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in shares of Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock worth $270,000 after purchasing an additional 1,467 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Credo Technology Group by 850.6% in the second quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company's stock valued at $383,000 after acquiring an additional 3,700 shares during the last quarter. Realta Investment Advisors bought a new stake in Credo Technology Group in the second quarter worth approximately $300,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credo Technology Group during the 1st quarter worth $27,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock valued at $1,405,000 after purchasing an additional 28,788 shares in 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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