Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Stock Has Average Price Target of $264.89 According to Brokerages

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) have earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $262.67.

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities increased their price target on shares of Credo Technology Group from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Barclays upped their target price on Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Stifel Nicolaus decreased their target price on Credo Technology Group from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Monday. Susquehanna raised their target price on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 18th.

Credo Technology Group Trading Down 2.8%

Shares of Credo Technology Group stock opened at $212.48 on Thursday. Credo Technology Group has a 12-month low of $86.49 and a 12-month high of $308.67. The company has a market cap of $39.94 billion, a P/E ratio of 75.62, a PEG ratio of 0.87 and a beta of 3.25. The company’s fifty day simple moving average is $207.30 and its two-hundred day simple moving average is $199.35.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. The firm had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The company’s quarterly revenue was up 114.7% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. Analysts predict that Credo Technology Group will post 5.02 EPS for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In related news, COO Yat Lam sold 50,000 shares of Credo Technology Group stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $205.22, for a total transaction of $10,261,000.00. Following the completion of the transaction, the chief operating officer directly owned 2,254,169 shares of the company’s stock, valued at $462,600,562.18. This trade represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Brennan sold 16,672 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $151.88, for a total transaction of $2,532,143.36. Following the sale, the chief executive officer directly owned 1,600,830 shares in the company, valued at $243,134,060.40. The trade was a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 412,246 shares of company stock worth $83,765,709. Corporate insiders own 9.06% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Large investors have recently made changes to their positions in the business. City Center Advisors LLC lifted its position in shares of Credo Technology Group by 2.1% in the second quarter. City Center Advisors LLC now owns 2,595 shares of the company’s stock worth $706,000 after buying an additional 53 shares in the last quarter. Versant Capital Management Inc grew its holdings in Credo Technology Group by 8.0% during the 2nd quarter. Versant Capital Management Inc now owns 755 shares of the company’s stock valued at $205,000 after buying an additional 56 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Credo Technology Group by 1.7% during the 1st quarter. QRG Capital Management Inc. now owns 5,402 shares of the company’s stock valued at $507,000 after buying an additional 91 shares in the last quarter. Bank of Nova Scotia increased its stake in Credo Technology Group by 1.6% in the 1st quarter. Bank of Nova Scotia now owns 6,026 shares of the company’s stock worth $566,000 after acquiring an additional 92 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in Credo Technology Group in the 2nd quarter worth approximately $27,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo has delivered seven consecutive quarters of triple-digit revenue growth, while its latest quarterly revenue increased 114.7% year over year to $479 million and exceeded analyst expectations. The company’s AI-related demand, strong margins and shift from copper to optical connectivity remain important long-term growth catalysts. Credo Has One Number That Could Change the Stock’s Long-Term Story The Transformation From Copper To Optical Is A Major Opportunity Still Under-Appreciated
• Positive Sentiment: Stifel Nicolaus maintained a “buy” rating and set a $310 price target, indicating substantial potential upside based on its expectations for Credo’s growth. However, the target was reduced from $350, tempering the bullish signal. Credo Technology Group Given New $310 Price Target at Stifel Nicolaus
• Neutral Sentiment: Analysts and market commentators continue to debate whether Credo’s premium valuation is justified. AI-driven demand and the expanding optics portfolio support the outlook, but execution risks and already-elevated expectations could increase volatility. Credo Stock at a Premium Valuation: Opportunity or Stay Cautious?
• Negative Sentiment: Insider James Laufman sold 5,000 shares for approximately $1.03 million, reducing his direct ownership by 2.95%. Although he still retains a sizable stake, the transaction likely added near-term selling pressure and investor caution. James Laufman Insider Transactions

About Credo Technology Group

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.