Carnegie Investment Counsel lowered its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Free Report) by 38.2% during the first quarter, Holdings Channel.com reports. The fund owned 149,722 shares of the company’s stock after selling 92,592 shares during the period. Carnegie Investment Counsel’s holdings in Credo Technology Group were worth $14,054,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of CRDO. Vanguard Group Inc. boosted its position in Credo Technology Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock valued at $2,386,449,000 after purchasing an additional 59,849 shares during the last quarter. State Street Corp grew its stake in 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 increased its position in shares of Credo Technology Group by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock worth $555,117,000 after purchasing an additional 184,676 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Credo Technology Group by 239,024.5% during the 4th 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 last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Credo Technology Group by 66.0% during the 2nd 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. Institutional investors and hedge funds own 80.46% of the company’s stock.
Insiders Place Their Bets
In other Credo Technology Group news, CTO Chi Fung Cheng sold 3,790 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $258.71, for a total transaction of $980,510.90. Following the completion of the sale, the chief technology officer owned 140,358 shares of the company’s stock, valued at $36,312,018.18. This trade represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Fariba Danesh sold 1,100 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $236.34, for a total value of $259,974.00. Following the sale, the director directly owned 7,017 shares of the company’s stock, valued at $1,658,397.78. This represents a 13.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 367,162 shares of company stock worth $81,338,911 in the last quarter. Company insiders own 11.84% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on Credo Technology Group
Credo Technology Group News Summary
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Recent commentary remains bullish on Credo’s role in AI data-center infrastructure, highlighting strong demand for its high-speed connectivity products, expanding margins, and rapid revenue growth. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
- Positive Sentiment: Another recent piece emphasized Credo’s exposure to AI “toll roads,” including its active electrical cables and 1.6T interconnects, which are reportedly used in major hyperscaler training clusters and point to continued long-term growth. Credo: Strong AI-Led Growth Proposition
- Neutral Sentiment: Short interest fell sharply in June, which may ease some bearish pressure, but a separate July update showed no meaningful short-interest data change. Credo Technologies Accelerates AI—Its Stock Price Will Follow
- Neutral Sentiment: CTO Chi Fung Cheng sold shares in recent days under a pre-arranged Rule 10b5-1 plan, which is generally viewed as routine, but repeated insider sales can still weigh on investor sentiment. Credo’s CTO Sold 31,290 Shares. His Remaining $1.6 Billion Stake Tells the Real Story
- Negative Sentiment: The stock also faced some headwinds from a broader chip-sector selloff, adding to near-term volatility in semiconductor names. Chip Stocks Join in Broad Selloff
Credo Technology Group Price Performance
NASDAQ CRDO traded down $7.86 during trading on Friday, reaching $257.79. 3,963,791 shares of the company’s stock were exchanged, compared to its average volume of 8,897,760. The business has a 50 day moving average price of $228.75 and a 200-day moving average price of $164.56. The stock has a market capitalization of $48.07 billion, a P/E ratio of 103.95, a PEG ratio of 1.18 and a beta of 3.20. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue was up 157.0% on a year-over-year basis. On average, analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.
Credo Technology Group 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.
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