JPMorgan Chase & Co. Raises Credo Technology Group (NASDAQ:CRDO) Price Target to $250.00

Key Points

• JPMorgan raised Credo Technology Group’s price target to $250 from $230 and kept an overweight rating, implying about 14.9% upside from the prior close.
• Analyst sentiment remains broadly positive, with several firms lifting targets after the latest results; MarketBeat says CRDO now has an average Buy rating and an average target price of $245.47.
• Despite the upbeat analyst notes, the stock was down 7.9% in trading, even as the company recently beat expectations with $1.16 EPS and $437 million in revenue, up 157% year over year.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) had its target price upped by equities researchers at JPMorgan Chase & Co. from $230.00 to $250.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 14.94% from the company's previous close.

Other equities analysts have also issued research reports about the company. Needham & Company LLC upped their price objective on Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday. Bank of America upped their price objective on Credo Technology Group from $210.00 to $252.00 and gave the stock a "buy" rating in a research note on Tuesday. Rothschild & Co Redburn started coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a "buy" rating and a $206.00 price objective for the company. Roth Mkm reaffirmed a "buy" rating and issued a $300.00 price objective on shares of Credo Technology Group in a research note on Tuesday. Finally, Rosenblatt Securities upped their price objective on Credo Technology Group from $175.00 to $215.00 and gave the stock a "neutral" rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $245.47.

Credo Technology Group Stock Down 7.9%

NASDAQ:CRDO traded down $18.53 during mid-day trading on Tuesday, hitting $217.50. 12,651,584 shares of the company traded hands, compared to its average volume of 6,185,664. The stock's fifty day moving average price is $160.55 and its 200-day moving average price is $145.28. Credo Technology Group has a one year low of $59.88 and a one year high of $243.21. The firm has a market cap of $40.12 billion, a price-to-earnings ratio of 125.61 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Credo Technology Group's revenue for the quarter was up 157.0% on a year-over-year basis. Equities analysts predict that Credo Technology Group will post 2.36 EPS for the current year.

Insider Buying and Selling

In related news, CEO William Joseph Brennan sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,782,502 shares of the company's stock, valued at approximately $209,764,835.36. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total value of $3,234,000.00. Following the transaction, the chief technology officer directly owned 6,272,370 shares of the company's stock, valued at approximately $737,630,712. The trade was a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 386,608 shares of company stock valued at $50,371,351. 11.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRDO. NewEdge Advisors LLC boosted its stake in Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company's stock valued at $284,000 after buying an additional 3,972 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Credo Technology Group by 63.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after buying an additional 589,151 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Credo Technology Group by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company's stock valued at $12,480,000 after purchasing an additional 7,107 shares during the period. CW Advisors LLC purchased a new stake in Credo Technology Group during the second quarter valued at approximately $288,000. Finally, EverSource Wealth Advisors LLC raised its position in Credo Technology Group by 198.2% during the second quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock valued at $46,000 after purchasing an additional 333 shares during the period. 80.46% of the stock is owned by institutional investors.

Key Credo Technology Group News

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo beat expectations in Q4, reporting EPS of $1.16 versus estimates around $1.02-$1.03 and revenue of $437.0 million versus consensus of $431.8 million. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Revenue surged 157% year over year, underscoring strong demand for its high-speed connectivity products tied to AI data center buildouts. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Mizuho raised its price target on CRDO to $260 from $220 and kept an outperform rating, signaling continued analyst confidence after the results. Credo Technology Stock Dives Despite Q4 Earnings Beat
• Neutral Sentiment: The company guided first-quarter fiscal 2027 revenue to $465 million-$475 million, above the Street estimate of about $462.9 million, but the EPS outlook was not clearly provided in the report. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Negative Sentiment: Despite the strong print, the stock fell in after-hours trading, suggesting investors were disappointed by gross margin or other forward-looking concerns and may be taking profits after a large run-up. Credo Technology Stock Dives Despite Q4 Earnings Beat

About Credo Technology Group

Credo Technology Group, Inc NASDAQ: CRDO is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo's product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.

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