Bank of America Cuts Credo Technology Group (NASDAQ:CRDO) Price Target to $275.00

Credo Technology Group (NASDAQ:CRDO) had its price objective decreased by Bank of America from $340.00 to $275.00 in a research note published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

CRDO has been the subject of several other research reports. The Goldman Sachs Group restated a “buy” rating and issued a $250.00 price objective on shares of Credo Technology Group in a report on Tuesday, June 2nd. Barclays lifted their target price on Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Jefferies Financial Group boosted their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Rosenblatt Securities upped their price target on shares of Credo Technology Group from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, TD Cowen raised their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.39.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $170.57 on Wednesday. The stock has a market cap of $32.06 billion, a price-to-earnings ratio of 60.70, a PEG ratio of 0.67 and a beta of 3.22. Credo Technology Group has a 12 month low of $86.49 and a 12 month high of $308.67. The stock’s 50 day moving average price is $230.31 and its 200 day moving average price is $189.00.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The firm had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. During the same period last year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 114.7% on a year-over-year basis. On average, sell-side analysts expect that Credo Technology Group will post 4.93 EPS for the current year.

Insider Transactions at Credo Technology Group

In other news, CTO Chi Cheng sold 27,473 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $209.53, for a total transaction of $5,756,417.69. Following the completion of the sale, the chief technology officer directly owned 5,772,397 shares of the company’s stock, valued at $1,209,490,343.41. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Fleming sold 7,580 shares of Credo Technology Group stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total value of $1,863,770.40. Following the completion of the transaction, the chief financial officer owned 504,708 shares in the company, valued at $124,097,603.04. The trade was a 1.48% 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. Insiders sold a total of 377,884 shares of company stock valued at $88,559,765 in the last three months. 9.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new stake in Credo Technology Group during the second quarter valued at about $27,000. Reflection Asset Management purchased a new position in shares of Credo Technology Group in the fourth quarter worth approximately $25,000. Acumen Wealth Advisors LLC purchased a new position in shares of Credo Technology Group in the fourth quarter worth approximately $25,000. Van ECK Associates Corp acquired a new stake in shares of Credo Technology Group during the fourth quarter valued at approximately $37,000. Finally, Quarry LP raised its holdings in shares of Credo Technology Group by 642.5% during the third quarter. Quarry LP now owns 297 shares of the company’s stock valued at $43,000 after acquiring an additional 257 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo reported revenue of $479 million, up 115% year over year, while adjusted EPS of $1.20 exceeded the $1.17 consensus estimate. Management expects fiscal-year revenue growth of more than 85%, with optical revenue surpassing $600 million as a second growth engine develops. Why I Doubled Down On Credo
• Positive Sentiment: Bullish analysts argue that the market’s margin fears are overstated and that the optical business should scale meaningfully in the second half of fiscal 2027. DustPhotonics also expands Credo’s opportunities in silicon photonics, 800G, 1.6T and near-package optics. Credo And The Illusion Of Its Q1 Problems
• Positive Sentiment: Stifel Nicolaus reiterated a Buy view, while Rosenblatt raised its price target to $235, supporting the case that the recent valuation reset may have been excessive. Stifel Buy Rating
• Neutral Sentiment: Analysts remain divided. Bank of America lowered its price target to $275, while other analysts maintain bullish ratings, reflecting uncertainty over how quickly optical products will ramp and whether margins can stabilize. Bank of America Price Target
• Negative Sentiment: Bears point to shrinking gross margins, rising operating costs, approximately $88 million in quarterly stock-based compensation, insider selling and customer concentration exceeding 60% of revenue. They also question the durability of the optical outlook, competition from Marvell and the risk of slower hyperscaler capital spending after fiscal 2028. Credo: This Is Not A Buying Opportunity

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.