Zacks Research Upgrades Credo Technology Group (NASDAQ:CRDO) to Strong-Buy

Credo Technology Group (NASDAQ:CRDO) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on CRDO. Roth Mkm dropped their price target on shares of Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Rothschild & Co Redburn assumed coverage on shares of Credo Technology Group in a research note on Friday, May 1st. They set a “buy” rating and a $206.00 price target on the stock. Susquehanna dropped their price target on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research note on Tuesday, March 3rd. Mizuho dropped their price target on shares of Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Finally, Stifel Nicolaus set a $200.00 price target on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $207.71.

Credo Technology Group Trading Up 8.3%

Shares of CRDO stock opened at $182.98 on Tuesday. The stock has a market capitalization of $33.75 billion, a P/E ratio of 101.66 and a beta of 3.17. The firm’s 50 day moving average is $143.14 and its 200 day moving average is $142.48. Credo Technology Group has a 12 month low of $59.00 and a 12 month high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million for the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. Credo Technology Group’s revenue was up 201.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. On average, equities analysts predict that Credo Technology Group will post 2.36 EPS for the current year.

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 6,149 shares of the stock in a transaction that occurred on Sunday, April 5th. The shares were sold at an average price of $101.45, for a total value of $623,816.05. Following the sale, the chief executive officer directly owned 222,311 shares in the company, valued at $22,553,450.95. This represents a 2.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $178.99, for a total transaction of $4,922,225.00. Following the completion of the sale, the chief technology officer owned 6,024,870 shares in the company, valued at $1,078,391,481.30. This represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 386,608 shares of company stock valued at $50,371,351. 11.84% of the stock is owned by company insiders.

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC purchased a new stake in Credo Technology Group in the 1st quarter worth approximately $38,000. Edgestream Partners L.P. raised its position in shares of Credo Technology Group by 28.4% during the 1st quarter. Edgestream Partners L.P. now owns 22,168 shares of the company’s stock valued at $2,081,000 after buying an additional 4,904 shares in the last quarter. H&H International Investment LLC raised its position in shares of Credo Technology Group by 431.6% during the 1st quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock valued at $70,515,000 after buying an additional 609,900 shares in the last quarter. Oaktree Capital Management LP purchased a new stake in shares of Credo Technology Group during the 1st quarter valued at $50,596,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Credo Technology Group during the 1st quarter valued at $426,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo announced that CEO Bill Brennan and CFO Dan Fleming will present at upcoming investor conferences, which can increase visibility with institutional investors and keep attention on the stock. Credo to Present at Upcoming Investor Conferences
• Positive Sentiment: Credo also said it is working with Rebellions to improve operational efficiency in enterprise AI factories, reinforcing demand for its connectivity products in AI infrastructure. Credo and Rebellions Work Together to Maximize Operational Efficiency in Enterprise AI Factories
• Positive Sentiment: The stock is benefiting from renewed interest in AI data center connectivity and fresh analyst upgrades, which has helped offset a recent pullback and brought the valuation back into focus. A Look At Credo Technology Group Holding (CRDO) Valuation After AI Connectivity Interest And Analyst Upgrades
• Neutral Sentiment: Recent headlines also note that investors are positioning ahead of Credo’s upcoming Q4 and full-year 2026 earnings, suggesting the next catalyst will likely be the company’s results and guidance. Credo Technology (CRDO) Soars 8% as Investors Gear Up for Earnings
• Negative Sentiment: Some market commentary warned the recent selloff may reflect concerns about whether hyperscaler capex can justify Credo’s rich earnings multiple, which could limit upside if growth expectations cool. Buy, Sell or Hold Credo Technology After the Selloff to $150?

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.