Zacks Research Upgrades Credo Technology Group (NASDAQ:CRDO) to Strong-Buy

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

CRDO has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research report on Monday, December 29th. Bank of America upped their target price on shares of Credo Technology Group from $165.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Susquehanna dropped their target price on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research report on Tuesday. KGI Securities upgraded shares of Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 price target on the stock in a research report on Tuesday, December 2nd. Finally, Wolfe Research set a $240.00 price objective on shares of Credo Technology Group in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $206.33.

Credo Technology Group Stock Up 5.4%

NASDAQ:CRDO opened at $102.54 on Tuesday. The firm has a market capitalization of $18.52 billion, a PE ratio of 56.97 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. The firm has a 50-day moving average price of $131.11 and a 200 day moving average price of $143.15.

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

Insider Transactions at Credo Technology Group

In related news, Director Pantas Sutardja sold 1,875 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $128.67, for a total value of $241,256.25. Following the completion of the transaction, the director owned 5,892,034 shares in the company, valued at $758,128,014.78. The trade was a 0.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $127.37, for a total value of $3,502,675.00. Following the transaction, the chief technology officer directly owned 6,299,870 shares in the company, valued at approximately $802,414,441.90. This represents a 0.43% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 917,976 shares of company stock worth $136,567,647. Corporate insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Reflection Asset Management acquired a new position in shares of Credo Technology Group during the fourth quarter valued at $25,000. Clearwave Capital LLC bought a new stake in Credo Technology Group during the 4th quarter worth about $708,000. BDFS Capital LLC acquired a new position in Credo Technology Group during the 4th quarter valued at about $775,000. Sit Investment Associates Inc. acquired a new position in Credo Technology Group during the 4th quarter valued at about $1,163,000. Finally, Mariner Investment Group LLC bought a new position in shares of Credo Technology Group in the 4th quarter valued at about $288,000. Institutional investors 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: 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

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.