Needham & Company LLC Reiterates “Buy” Rating for Credo Technology Group (NASDAQ:CRDO)

Credo Technology Group (NASDAQ:CRDO)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $220.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 38.04% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Roth Mkm dropped their price target on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Mizuho decreased their price objective on 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. Craig Hallum reiterated a “buy” rating and set a $200.00 price objective on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research note on Friday, March 27th. Finally, Jefferies Financial Group began coverage on Credo Technology Group in a research note on Monday. They set a “buy” rating and a $175.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.38.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $159.37 on Wednesday. Credo Technology Group has a one year low of $33.04 and a one year high of $213.80. The business’s fifty day moving average price is $112.56 and its 200-day moving average price is $136.82. The stock has a market capitalization of $29.40 billion, a PE ratio of 88.54 and a beta of 2.72.

Credo Technology Group (NASDAQ:CRDO) last issued 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. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm had revenue of $407.01 million for the quarter, compared to analysts’ expectations of $385.94 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 201.5% compared to the same quarter last year. As a group, equities analysts expect that Credo Technology Group will post 0.13 EPS for the current fiscal year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $136.33, for a total value of $4,089,900.00. Following the transaction, the chief technology officer directly owned 6,327,370 shares in the company, valued at $862,610,352.10. This represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Joseph Brennan sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the completion of the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at $209,764,835.36. This represents a 2.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 416,419 shares of company stock worth $49,395,410 over the last 90 days. Corporate insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Several institutional investors have recently modified their holdings of CRDO. NewEdge Advisors LLC increased its position in shares of Credo Technology Group by 128.4% during the 1st quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after purchasing an additional 3,972 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Credo Technology Group by 63.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after purchasing an additional 589,151 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Credo Technology Group by 2.3% during the 1st 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 acquiring an additional 7,107 shares during the period. CW Advisors LLC purchased a new stake in Credo Technology Group during the 2nd quarter valued at about $288,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Credo Technology Group by 198.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after acquiring an additional 333 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group News Roundup

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

• Positive Sentiment: Announced acquisition of DustPhotonics (roughly $750M) to add silicon?photonic optical transceiver tech, expanding Credo’s addressable market in AI/data?center connectivity and strengthening product/technology depth. Read More.
• Positive Sentiment: Jefferies initiated coverage with a Buy and $175 price target, arguing the market is underestimating Credo’s long?term AI infrastructure upside — the call has lent credibility to the rally. Read More.
• Positive Sentiment: Unusually large call?option purchases were reported, signaling speculative and hedged bullish positioning that can amplify intraday moves and reflect investor conviction about near?term upside. Read More.
• Neutral Sentiment: Management hosted an M&A call to outline rationale, synergies and integration plans; transcript available — investors will watch guidance for timing and expected financial impact. Read More.
• Neutral Sentiment: Broader market tailwinds for semiconductor and AI?related names (Nasdaq strength after macro data) have supported the move—sector momentum may be helping amplify gains. Read More.
• Negative Sentiment: Insider sale disclosed: CTO Chi Fung Cheng sold 27,500 shares under a pre?arranged 10b5?1 plan. The sale is modest versus his holdings but may draw attention from short?term traders. Read More.
• Negative Sentiment: Execution and integration risk: the large optics deal expands addressable market but raises near?term integration, margin and customer?concentration questions that could temper expectations if not managed. Read More.

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.