ProShare Advisors LLC grew its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Free Report) by 22.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,240 shares of the company’s stock after acquiring an additional 8,964 shares during the quarter. ProShare Advisors LLC’s holdings in Credo Technology Group were worth $6,941,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC boosted its holdings in Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Credo Technology Group in the third quarter worth about $25,000. Flagship Harbor Advisors LLC acquired a new stake in Credo Technology Group in the fourth quarter worth about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Credo Technology Group in the fourth quarter worth about $36,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Credo Technology Group by 133.6% in the third quarter. Smartleaf Asset Management LLC now owns 257 shares of the company’s stock worth $38,000 after acquiring an additional 147 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.
Analysts Set New Price Targets
CRDO has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price target on Credo Technology Group from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Rosenblatt Securities raised their price target on Credo Technology Group from $125.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Mizuho lowered their price target on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Rothschild & Co Redburn assumed coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective for the company. Finally, Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $207.71.
Insider Activity at Credo Technology Group
In related news, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the completion of the transaction, the chief technology officer directly owned 6,272,370 shares in the company, valued at approximately $737,630,712. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total value of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares of the company’s stock, valued at approximately $209,764,835.36. This represents a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 386,608 shares of company stock valued at $50,371,351. 11.84% of the stock is owned by company insiders.
More Credo Technology Group News
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo surged after announcing a partnership with Rebellions to integrate its ZeroFlap cables into RebelPOD, a move aimed at improving efficiency in enterprise AI factories and supporting scalable inference deployments. Article Title
- Positive Sentiment: Zacks Research upgraded Credo from “hold” to “strong-buy,” adding to the bullish sentiment around the name. Article Title
- Positive Sentiment: Several new write-ups highlighted Credo as an attractive AI connectivity stock and one of the semiconductor names with the highest upside potential, with analysts pointing to growth from AEC adoption, new product families, and the company’s $750 million DustPhotonics deal. Article Title
- Positive Sentiment: Broader coverage also framed Credo as a leading beneficiary of the AI boom, which is helping keep momentum strong in the stock. Article Title
- Neutral Sentiment: Credo also announced upcoming investor conference presentations, which can help maintain visibility but does not by itself change the business outlook. Article Title
- Negative Sentiment: Some market commentary warned that the stock’s sharp reversal could be a caution sign, though that view is outweighed today by the stronger bullish AI and analyst-driven narrative. Article Title
Credo Technology Group Stock Up 5.7%
Shares of NASDAQ:CRDO opened at $193.39 on Friday. Credo Technology Group Holding Ltd. has a 52-week low of $59.00 and a 52-week high of $213.80. The stock has a market cap of $35.67 billion, a price-to-earnings ratio of 107.44 and a beta of 3.17. The business has a 50-day moving average price of $144.76 and a 200-day moving average price of $142.53.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.Credo Technology Group’s quarterly revenue was up 201.5% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. As a group, equities analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current fiscal year.
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.
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