Cornerstone Select Advisors LLC bought a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Free Report) in the 4th quarter, HoldingsChannel reports. The firm bought 4,364 shares of the company’s stock, valued at approximately $628,000.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted 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. JPMorgan Chase & Co. lifted its position in Credo Technology Group by 18.3% during the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock valued at $1,121,118,000 after purchasing an additional 1,190,522 shares during the last quarter. Geode Capital Management LLC lifted its position in Credo Technology Group by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock valued at $555,117,000 after purchasing an additional 184,676 shares during the last quarter. Alliancebernstein L.P. lifted its position in Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after purchasing an additional 1,218,504 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Credo Technology Group by 161.5% during the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after purchasing an additional 1,406,752 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.
Credo Technology Group Stock Up 6.2%
Shares of NASDAQ CRDO opened at $236.03 on Friday. Credo Technology Group Holding Ltd. has a 52 week low of $59.21 and a 52 week high of $240.81. The firm’s fifty day moving average is $158.17 and its 200 day moving average is $144.98. The company has a market cap of $43.54 billion, a price-to-earnings ratio of 131.13 and a beta of 3.17.
Trending Headlines about Credo Technology Group
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
- Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives Consensus Recommendation of “Buy” from Brokerages
- Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
- Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
- Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?
Analyst Upgrades and Downgrades
CRDO has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Credo Technology Group in a research report on Monday, April 13th. They set a “buy” rating and a $175.00 target price for the company. Susquehanna dropped their target price on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research report on Tuesday, March 3rd. Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a report on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective for the company. Roth Mkm lowered their price objective on shares of Credo Technology Group from $250.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Craig Hallum restated a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $210.65.
Get Our Latest Stock Analysis on CRDO
Insiders Place Their Bets
In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the transaction, the chief executive officer directly owned 1,782,502 shares of the company’s stock, valued at approximately $209,764,835.36. The trade was a 2.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the transaction, the chief technology officer directly owned 6,272,370 shares in the company, valued at approximately $737,630,712. The trade was a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 386,608 shares of company stock worth $50,371,351. Insiders own 11.84% of the company’s stock.
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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