Engineers Gate Manager LP reduced its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Free Report) by 33.0% during the fourth quarter, HoldingsChannel reports. The fund owned 125,532 shares of the company’s stock after selling 61,916 shares during the period. Engineers Gate Manager LP’s holdings in Credo Technology Group were worth $18,063,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Credo Technology Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock worth $2,386,449,000 after acquiring an additional 59,849 shares during the last quarter. State Street Corp grew its stake in shares of Credo Technology Group by 23.4% in the fourth quarter. State Street Corp now owns 4,486,320 shares of the company’s stock worth $645,537,000 after acquiring an additional 849,654 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Credo Technology Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock worth $555,117,000 after acquiring an additional 184,676 shares during the last quarter. Alliancebernstein L.P. grew 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 acquiring an additional 1,218,504 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Credo Technology Group by 161.5% in the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after acquiring an additional 1,406,752 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Credo Technology Group
In related news, CEO William Joseph Brennan sold 54,984 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the sale, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. This trade represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Daniel W. Fleming sold 40,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the transaction, the chief financial officer directly owned 501,873 shares in the company, valued at approximately $125,207,276.04. This represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 389,384 shares of company stock valued at $66,025,968 over the last three months. 11.84% of the stock is owned by insiders.
Key Credo Technology Group News
- Positive Sentiment: Credo’s blockbuster FY26 results and strong guidance continue to fuel bullish sentiment, with investors focused on rapid revenue growth, earnings beats, and momentum in AI connectivity. Credo Technology Group Holding (CRDO) Is Up 21.2% After Earnings Beat And DustPhotonics Deal – What’s Changed
- Positive Sentiment: Analysts and media coverage remain constructive, highlighting Credo’s exposure to AI infrastructure spending, optical networking growth, and improving margins, which supports the stock’s rally. Credo Technology Stock Outlook Hinges on AI and Optical Scale
- Positive Sentiment: Mizuho reiterated an Outperform rating and lifted its price target to $290, adding to the bullish analyst backdrop after the earnings report. Mizuho Reiterates Outperform on Credo Technology Group Holding Ltd (CRDO)
- Neutral Sentiment: CFO Daniel Fleming sold 40,000 shares under a pre-arranged 10b5-1 plan tied to tax withholding on vested equity awards, which is not usually viewed as a negative signal on fundamentals. SEC Form 4 filing
- Neutral Sentiment: Some recent commentary suggests the valuation is becoming stretched after a major run-up, so investors may be watching closely for continued execution in margins, customer ramps, and guidance. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?
Credo Technology Group Price Performance
Credo Technology Group stock opened at $249.33 on Thursday. Credo Technology Group Holding Ltd. has a one year low of $80.60 and a one year high of $270.21. The stock has a market capitalization of $46.50 billion, a PE ratio of 100.54, a price-to-earnings-growth ratio of 1.26 and a beta of 3.22. The business’s fifty day moving average is $193.31 and its 200 day moving average is $152.66.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $431.80 million. During the same period last year, the firm posted $0.20 earnings per share. Credo Technology Group’s revenue was up 157.0% compared to the same quarter last year. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Susquehanna increased their target price on Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research note on Tuesday, June 2nd. Bank of America increased their target price on Credo Technology Group from $210.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. increased their target price on Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. TD Cowen increased their target price on Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group increased their target price on Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group presently has an average rating of “Moderate Buy” and an average target price of $248.41.
View Our Latest Stock Report on CRDO
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.
Featured Articles
- Five stocks we like better than Credo Technology Group
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Free Report).
Receive News & Ratings for Credo Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credo Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.
