Credo Technology Group (NASDAQ:CRDO) Given New $310.00 Price Target at Stifel Nicolaus

Credo Technology Group (NASDAQ:CRDO) had its price objective decreased by Stifel Nicolaus from $350.00 to $310.00 in a report issued on Monday, Marketbeat Ratings reports. Stifel Nicolaus currently has a buy rating on the stock.

CRDO has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price target on shares of Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 2nd. Weiss Ratings upgraded shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Susquehanna upped their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Bank of America reduced their price target on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

Credo Technology Group Stock Down 2.8%

Shares of Credo Technology Group stock opened at $212.48 on Monday. The business has a fifty day simple moving average of $207.30 and a 200 day simple moving average of $199.35. The stock has a market cap of $39.94 billion, a PE ratio of 75.62, a price-to-earnings-growth ratio of 0.87 and a beta of 3.25. Credo Technology Group has a 12 month low of $86.49 and a 12 month high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The company’s quarterly revenue was up 114.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Analysts expect that Credo Technology Group will post 5.02 EPS for the current fiscal year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $205.54, for a total value of $5,652,350.00. Following the sale, the chief technology officer owned 5,799,870 shares of the company’s stock, valued at $1,192,105,279.80. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 55,441 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $213.02, for a total value of $11,810,041.82. Following the completion of the sale, the chief operating officer owned 2,529,169 shares in the company, valued at approximately $538,763,580.38. This trade represents a 2.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $83,765,709. Corporate insiders own 9.06% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Polaris Financial Partners bought a new stake in Credo Technology Group in the 3rd quarter valued at approximately $681,000. GoalVest Advisory LLC lifted its position in shares of Credo Technology Group by 49,226.5% in the third quarter. GoalVest Advisory LLC now owns 24,170 shares of the company’s stock worth $4,708,000 after purchasing an additional 24,121 shares in the last quarter. Burkett Financial Services LLC acquired a new position in Credo Technology Group during the third quarter worth $33,000. QRG Capital Management Inc. boosted its holdings in Credo Technology Group by 20.8% during the second quarter. QRG Capital Management Inc. now owns 6,527 shares of the company’s stock worth $1,774,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Credo Technology Group in the second quarter valued at $548,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

More Credo Technology Group News

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

Credo Technology Group Company Profile

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.