Credo Technology Group (NASDAQ:CRDO) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

by · The Cerbat Gem

Credo Technology Group (NASDAQ:CRDO – Get Free Report) announced its earnings results on Monday. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05), Zacks reports. The firm had revenue of $268.03 million during the quarter, compared to the consensus estimate of $234.99 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.During the same period in the prior year, the company posted $0.07 EPS. Credo Technology Group updated its Q3 2026 guidance to EPS.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock traded down $6.47 on Monday, reaching $171.13. The company had a trading volume of 10,317,524 shares, compared to its average volume of 5,469,439. The firm’s 50-day moving average price is $152.37 and its two-hundred day moving average price is $119.95. The firm has a market cap of $29.61 billion, a price-to-earnings ratio of 255.42 and a beta of 2.63. Credo Technology Group has a 1 year low of $29.09 and a 1 year high of $193.50.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price target on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Mizuho raised their target price on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Stifel Nicolaus set a $160.00 price objective on shares of Credo Technology Group in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.36.

View Our Latest Stock Analysis on CRDO

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $163.98, for a total transaction of $9,018,900.00. Following the completion of the sale, the chief technology officer owned 6,998,961 shares of the company’s stock, valued at approximately $1,147,689,624.78. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel W. Fleming sold 112,580 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the sale, the chief financial officer owned 458,678 shares of the company’s stock, valued at $63,389,299.60. The trade was a 19.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 973,161 shares of company stock worth $149,011,579 over the last 90 days. Company insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its stake in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after purchasing an additional 1,218,504 shares during the last quarter. Bank of America Corp DE raised its position in Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after buying an additional 1,406,752 shares during the last quarter. Wellington Management Group LLP lifted its stake in Credo Technology Group by 47.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,624,690 shares of the company’s stock valued at $236,571,000 after acquiring an additional 525,585 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Credo Technology Group by 63.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after acquiring an additional 589,151 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Credo Technology Group by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,420,047 shares of the company’s stock valued at $206,773,000 after acquiring an additional 44,795 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

(Get Free Report)

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.

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