Susquehanna Cuts Credo Technology Group (NASDAQ:CRDO) Price Target to $170.00

Credo Technology Group (NASDAQ:CRDO) had its target price lowered by Susquehanna from $230.00 to $170.00 in a research note published on Tuesday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Other equities research analysts also recently issued research reports about the company. Rosenblatt Securities dropped their price objective on Credo Technology Group from $170.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Bank of America upped their price target on Credo Technology Group from $165.00 to $240.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group set a $165.00 price target on shares of Credo Technology Group and gave the company a “buy” rating in a research report on Thursday, February 19th. Barclays restated an “overweight” rating and set a $260.00 price objective on shares of Credo Technology Group in a report on Thursday, January 15th. Finally, TD Cowen reiterated a “buy” rating on shares of Credo Technology Group in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $206.33.

Credo Technology Group Stock Up 11.9%

Shares of CRDO opened at $114.74 on Tuesday. The stock’s fifty day simple moving average is $130.40 and its 200-day simple moving average is $142.96. The firm has a market capitalization of $21.16 billion, a PE ratio of 63.74 and a beta of 2.67. Credo Technology Group has a 12-month low of $29.09 and a 12-month high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.29. The company had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The company’s revenue for the quarter was up 201.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. Analysts anticipate that Credo Technology Group will post 0.13 EPS for the current year.

Insider Activity

In other Credo Technology Group news, COO Yat Tung Lam sold 370,000 shares of Credo Technology Group stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $153.19, for a total value of $56,680,300.00. Following the sale, the chief operating officer owned 400,000 shares of the company’s stock, valued at $61,276,000. This trade represents a 48.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $174.70, for a total value of $9,608,500.00. Following the completion of the sale, the chief technology officer owned 6,613,961 shares in the company, valued at approximately $1,155,458,986.70. This trade represents a 0.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 916,101 shares of company stock worth $136,220,453 over the last quarter. 11.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of large investors have recently bought and sold shares of the company. Reflection Asset Management bought a new stake in Credo Technology Group during the fourth quarter worth $25,000. Clearwave Capital LLC acquired a new position in shares of Credo Technology Group during the 4th quarter worth about $708,000. BDFS Capital LLC bought a new stake in shares of Credo Technology Group in the 4th quarter valued at about $775,000. Sit Investment Associates Inc. bought a new stake in shares of Credo Technology Group in the 4th quarter valued at about $1,163,000. Finally, Mariner Investment Group LLC acquired a new stake in Credo Technology Group in the 4th quarter valued at about $288,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Strategic M&A and partnerships broaden Credo’s AI connectivity footprint — the CoMira acquisition plus a collaboration with TensorWave add IP and go?to?market support for advanced AI rack architectures, strengthening Credo’s addressable market in AI data centers. Credo Deepens AI Data Center Role With CoMira Deal And TensorWave Tie Up
• Positive Sentiment: Sector tailwind: Broadcom’s public preference for copper interconnects in AI racks benefits Credo’s copper-centric connectivity product roadmap and helped lift sentiment across similar suppliers. Credo Shares Jump 10% as Broadcom Backs Copper Over Optical Tech
• Positive Sentiment: Fundamentals and estimates are moving upward — Credo recently reported better?than?expected EPS and revenue, and analysts have been revising earnings estimates higher, supporting further upside potential. Earnings Estimates Rising for Credo Technology Group (CRDO)
• Positive Sentiment: Wall Street bullishness and upside targets: the average analyst price target implies large upside, and several firms have reiterated buys — this drives interest and momentum among growth investors. Wall Street Analysts See a 95.05% Upside in Credo Technology Group (CRDO)
• Neutral Sentiment: Short-interest reporting in feeds shows odd/zero values and appears unreliable right now; no clear short?pressure signal can be drawn from the published short?interest lines.
• Negative Sentiment: Some sell?side pushback: a cluster of firms (Rosenblatt, Susquehanna, Mizuho and others) have lowered expectations or issued downgrades recently, which earlier triggered a sharp pullback in the stock and keeps near?term sentiment bifurcated. Rosenblatt Has Lowered Expectations for Credo Technology Group
• Negative Sentiment: Analyst fair?value/tone adjustments: at least one note trimmed assessed fair value for CRDO, reflecting sector multiple resets and the need to calibrate valuation after recent rallies — a headwind for further multiple expansion. How The Credo Technology Group Holding (CRDO) Story Is Shifting After Recent Analyst Revisions

Credo Technology Group Company Profile

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.