77,600 Shares in Credo Technology Group Holding Ltd. $CRDO Bought by Talos Eurisko Asset Management LP

Talos Eurisko Asset Management LP bought a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 77,600 shares of the company’s stock, valued at approximately $11,166,000. Credo Technology Group accounts for 2.0% of Talos Eurisko Asset Management LP’s investment portfolio, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in shares of Credo Technology Group by 128.4% in the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after acquiring an additional 3,972 shares during the period. Goldman Sachs Group Inc. increased its position in Credo Technology Group by 63.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after acquiring an additional 589,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Credo Technology Group by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock valued at $12,480,000 after purchasing an additional 7,107 shares during the last quarter. CW Advisors LLC bought a new stake in Credo Technology Group in the 2nd quarter valued at $288,000. Finally, EverSource Wealth Advisors LLC grew its position in Credo Technology Group by 198.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock worth $46,000 after purchasing an additional 333 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Stock Up 3.4%

Shares of CRDO stock opened at $259.41 on Tuesday. Credo Technology Group Holding Ltd. has a 12-month low of $75.50 and a 12-month high of $270.21. The company has a market capitalization of $47.85 billion, a P/E ratio of 104.60, a P/E/G ratio of 1.32 and a beta of 3.22. The firm has a 50-day moving average price of $187.62 and a 200 day moving average price of $151.53.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The firm had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. During the same quarter last year, the company posted $0.20 EPS. The company’s quarterly revenue was up 157.0% compared to the same quarter last year. As a group, research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of Credo Technology Group stock in a transaction that occurred on 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 transaction, the chief financial officer owned 501,873 shares of the company’s stock, valued at approximately $125,207,276.04. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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. Also, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at approximately $80,286,662.39. The trade was a 13.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 389,384 shares of company stock valued at $66,025,968. 11.84% of the stock is currently owned by corporate insiders.

Key Credo Technology Group News

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo remains a beneficiary of the AI data-center upgrade cycle, with analysts citing stronger demand for its connectivity products and growing optical-scale opportunities. Credo Technology Rides the AI Interconnect Upgrade Cycle
• Positive Sentiment: Recent commentary continued to frame CRDO as a momentum name after its strong earnings-driven rally, reinforcing bullish interest in the stock. Credo Technology Group Holding Ltd. (CRDO) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: CFO Daniel Fleming sold 40,000 shares under a 10b5-1 plan to cover tax obligations related to equity vesting, which is more administrative than a negative business signal. SEC Form 4 filing
• Negative Sentiment: Some reports warned that after a steep rally, CRDO’s valuation is becoming rich, leaving the shares vulnerable if growth, margins, or customer ramps disappoint. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Wall Street Analyst Weigh In

CRDO has been the topic of several research analyst reports. Bank of America raised their price target on shares of Credo Technology Group from $210.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Mizuho raised their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Jefferies Financial Group raised their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Susquehanna raised their price target on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.41.

Credo Technology Group Company 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.