Roth Capital Brokers Increase Earnings Estimates for CRDO

Key Points

• Roth Capital has raised its Q1 2027 earnings estimates for Credo Technology Group from $0.29 to $0.39 per share, maintaining a "Buy" rating with a target price of $160.00.
• The stock's overall consensus rating remains a "Buy," with several analysts adjusting their price targets upward, the highest being $165.00.
• Credo Technology Group reported a 273.6% increase in revenue year-over-year, although its recent earnings per share fell short of consensus estimates by $0.02.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) - Stock analysts at Roth Capital boosted their Q1 2027 earnings estimates for Credo Technology Group in a research note issued to investors on Wednesday, September 3rd. Roth Capital analyst S. Desilva now expects that the company will earn $0.39 per share for the quarter, up from their prior estimate of $0.29. Roth Capital currently has a "Buy" rating and a $160.00 target price on the stock. The consensus estimate for Credo Technology Group's current full-year earnings is $0.13 per share. Roth Capital also issued estimates for Credo Technology Group's Q2 2027 earnings at $0.43 EPS, Q3 2027 earnings at $0.46 EPS and Q4 2027 earnings at $0.48 EPS.

CRDO has been the topic of several other reports. Cowen restated a "buy" rating on shares of Credo Technology Group in a research report on Tuesday, June 3rd. Stifel Nicolaus set a $155.00 price objective on shares of Credo Technology Group in a research report on Thursday. Needham & Company LLC upped their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday. Susquehanna upped their price objective on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a "positive" rating in a research report on Thursday. Finally, Mizuho upped their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $126.27.

Credo Technology Group Trading Up 5.1%

CRDO stock opened at $140.82 on Monday. The company's 50 day moving average is $109.39 and its 200 day moving average is $73.90. The stock has a market cap of $24.36 billion, a price-to-earnings ratio of 210.18 and a beta of 2.59. Credo Technology Group has a 1-year low of $24.08 and a 1-year high of $142.57.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted 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 company 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 firm's revenue for the quarter was up 273.6% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, Director Lip Bu Tan sold 171,473 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 613,725 shares in the company, valued at $47,809,177.50. This trade represents a 21.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Joseph Brennan sold 150,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,061,978 shares in the company, valued at $220,363,588.86. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,068,654 shares of company stock worth $97,805,783 over the last ninety days. Insiders own 11.84% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Credo Technology Group by 2.7% in the second quarter. Vanguard Group Inc. now owns 16,375,368 shares of the company's stock worth $1,516,195,000 after purchasing an additional 430,445 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Credo Technology Group by 36.5% in the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company's stock worth $602,662,000 after purchasing an additional 1,739,844 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Credo Technology Group by 4.7% in the second quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company's stock worth $334,740,000 after purchasing an additional 163,305 shares during the last quarter. Swedbank AB grew its holdings in shares of Credo Technology Group by 29.5% in the first quarter. Swedbank AB now owns 3,219,125 shares of the company's stock worth $129,280,000 after purchasing an additional 733,811 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock worth $283,778,000 after purchasing an additional 1,218,504 shares during the last quarter. Institutional investors own 80.46% of the company's stock.

About Credo Technology Group

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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