Counterpoint Mutual Funds LLC Acquires 51,560 Shares of Credo Technology Group Holding Ltd. $CRDO

Counterpoint Mutual Funds LLC boosted its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 2,516.3% in the first quarter, Holdings Channel.com reports. The fund owned 53,609 shares of the company’s stock after acquiring an additional 51,560 shares during the quarter. Credo Technology Group comprises 0.8% of Counterpoint Mutual Funds LLC’s portfolio, making the stock its 13th biggest holding. Counterpoint Mutual Funds LLC’s holdings in Credo Technology Group were worth $5,032,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Crewe Advisors LLC lifted its position in shares of Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Acumen Wealth Advisors LLC bought a new position in shares of Credo Technology Group in the fourth quarter worth about $25,000. Reflection Asset Management bought a new position in shares of Credo Technology Group in the fourth quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new position in Credo Technology Group in the 4th quarter worth about $32,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Credo Technology Group in the 4th quarter worth about $36,000. Institutional investors own 80.46% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $269.84, for a total transaction of $7,420,600.00. Following the transaction, the chief technology officer directly owned 5,909,870 shares of the company’s stock, valued at $1,594,719,320.80. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 405,095 shares of company stock worth $81,206,774. 11.84% of the stock is owned by corporate insiders.

Key Credo Technology Group News

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo’s Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Analyst Ratings Changes

CRDO has been the subject of several research reports. Susquehanna boosted their price objective on shares of Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a research report on Tuesday, June 2nd. Roth Mkm upped their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. TD Cowen raised their target price on shares of Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Bank of America lifted their price target on shares of Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, Evercore assumed coverage on Credo Technology Group in a report on Monday, June 22nd. They issued an “outperform” rating and a $325.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group currently has an average rating of “Buy” and an average price target of $263.11.

Credo Technology Group Price Performance

CRDO stock opened at $241.91 on Friday. The business has a 50-day moving average price of $220.92 and a 200 day moving average price of $160.44. The company has a market capitalization of $45.11 billion, a P/E ratio of 97.54, a PEG ratio of 1.11 and a beta of 3.20. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The company had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was up 157.0% compared to the same quarter last year. On average, analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

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.