Credo Technology Group (NASDAQ:CRDO) Upgraded by Zacks Research to “Strong-Buy” Rating

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

Other research analysts also recently issued research reports about the stock. TD Cowen restated a “buy” rating on shares of Credo Technology Group in a report on Tuesday, December 2nd. Roth Mkm cut their target price on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research note on Monday, December 29th. Craig Hallum reissued a “buy” rating and set a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday. Finally, Rosenblatt Securities reduced their target price on Credo Technology Group from $170.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $206.33.

Credo Technology Group Price Performance

NASDAQ CRDO opened at $102.54 on Tuesday. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of 56.97 and a beta of 2.67. The company has a 50 day simple moving average of $131.11 and a 200-day simple moving average of $143.15. Credo Technology Group has a 52-week low of $29.09 and a 52-week high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The business had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 37.17%. Credo Technology Group’s revenue for the quarter was up 201.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. On average, analysts predict that Credo Technology Group will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $174.70, for a total transaction of $9,608,500.00. Following the completion of the transaction, the chief technology officer directly owned 6,613,961 shares in the company, valued at $1,155,458,986.70. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Joseph Brennan sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $153.16, for a total transaction of $7,658,000.00. Following the completion of the sale, the chief executive officer owned 1,892,502 shares in the company, valued at approximately $289,855,606.32. The trade was a 2.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 917,976 shares of company stock valued at $136,567,647 in the last three months. Company insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Credo Technology Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock valued at $2,386,449,000 after acquiring an additional 59,849 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Credo Technology Group by 18.3% during the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock valued at $1,121,118,000 after purchasing an additional 1,190,522 shares during the period. State Street Corp raised its stake in shares of Credo Technology Group by 23.4% in the fourth quarter. State Street Corp now owns 4,486,320 shares of the company’s stock valued at $645,537,000 after purchasing an additional 849,654 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Credo Technology Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock valued at $555,117,000 after purchasing an additional 184,676 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in Credo Technology Group by 239,024.5% in the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after purchasing an additional 3,597,318 shares during the period. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Q3 beat and above‑consensus guidance — Credo reported record Q3 revenue (~$407M, +201% YoY), beat estimates and gave Q4 revenue guidance above Street expectations, which underpins the company’s high-growth narrative. Credo Trading Higher After Better-Than-Expected Earnings
• Positive Sentiment: Strategic AI/data-center moves — Credo acquired CoMira Solutions and announced a major collaboration with TensorWave to deploy its ZeroFlap AECs and optics in next‑gen AI clusters, strengthening its addressable market in AI connectivity. Credo Deepens AI Data Center Role With CoMira Deal And TensorWave Tie Up
• Positive Sentiment: Some shops remain bullish — Several firms (Needham, William Blair, Bank of America and others) have reiterated Buy ratings and high price targets, signaling conviction among parts of the sell‑side despite recent weakness. Wall Street Bullish on Credo Technology Group
• Neutral Sentiment: Mixed analyst views — Coverage is polarized: some houses trimmed price targets while others reiterated buys, producing volatility as investors digest revised models and timing of optical ramp. Analysts Offer Insights on Technology Companies: Credo
• Negative Sentiment: Analyst price‑target cuts — Multiple firms cut forecasts/price targets (Rosenblatt, Susquehanna, Mizuho among them), lowering near‑term expectations and pressuring the stock. Rosenblatt Lowers Expectations for Credo
• Negative Sentiment: Immediate market reaction — Shares gapped down and fell sharply after the analyst downgrade wave and sectorwide profit‑taking (AI trade unwind), driving today’s decline. Credo Shares Down After Analyst Downgrade
• Negative Sentiment: Investor concerns on forward cadence/margins — Market commentary flags risks: potential deceleration in AEC growth, a faster shift to optical interconnects, customer concentration and near‑term margin pressure — factors investors are pricing in despite the beat. Credo: Beat, Raise, Drop 10% — AI Trade Hangover

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.