Credo Technology Group (NASDAQ:CRDO) Given New $160.00 Price Target at TD Cowen

Credo Technology Group (NASDAQ:CRDO) had its target price raised by investment analysts at TD Cowen from $140.00 to $160.00 in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 28.24% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Credo Technology Group from a “buy” rating to a “hold” rating in a report on Sunday, August 24th. Susquehanna upped their target price on shares of Credo Technology Group from $90.00 to $115.00 and gave the stock a “positive” rating in a research report on Tuesday, July 22nd. Mizuho upped their target price on shares of Credo Technology Group from $112.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Roth Capital set a $95.00 target price on shares of Credo Technology Group and gave the stock a “buy” rating in a research report on Friday, June 13th. Finally, Cowen reiterated a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $114.00.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $124.77 on Thursday. The stock has a market cap of $21.58 billion, a P/E ratio of 462.11, a PEG ratio of 2.21 and a beta of 2.59. Credo Technology Group has a fifty-two week low of $24.08 and a fifty-two week high of $134.35. The firm’s fifty day moving average price is $107.66 and its 200-day moving average price is $72.98.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%.The company’s revenue for the quarter was up 273.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Sell-side analysts predict that Credo Technology Group will post 0.13 earnings per share for the current year.

Insider Activity

In other news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $107.12, for a total transaction of $5,891,600.00. Following the completion of the sale, the chief technology officer directly owned 7,108,961 shares in the company, valued at approximately $761,511,902.32. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pantas Sutardja sold 1,875 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $107.00, for a total transaction of $200,625.00. Following the sale, the director owned 5,898,652 shares of the company’s stock, valued at approximately $631,155,764. This represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,136,152 shares of company stock valued at $102,714,411. Company insiders own 11.84% of the company’s stock.

Institutional Trading of Credo Technology Group

A number of institutional investors have recently modified their holdings of CRDO. Ameriprise Financial Inc. boosted its holdings in shares of Credo Technology Group by 49.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,643,560 shares of the company’s stock worth $110,482,000 after purchasing an additional 543,940 shares during the period. BNP Paribas Financial Markets purchased a new stake in Credo Technology Group in the fourth quarter worth about $35,280,000. Bank of America Corp DE lifted its holdings in Credo Technology Group by 281.7% in the fourth quarter. Bank of America Corp DE now owns 391,446 shares of the company’s stock worth $26,309,000 after buying an additional 606,850 shares during the period. Captrust Financial Advisors lifted its holdings in Credo Technology Group by 16.2% in the fourth quarter. Captrust Financial Advisors now owns 114,151 shares of the company’s stock worth $7,672,000 after buying an additional 15,894 shares during the period. Finally, Bridgefront Capital LLC purchased a new stake in Credo Technology Group in the fourth quarter worth about $251,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.