Swedbank AB Lowers Stock Position in Credo Technology Group Holding Ltd. $CRDO

Swedbank AB cut its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 24.8% in the first quarter, HoldingsChannel reports. The fund owned 1,551,139 shares of the company’s stock after selling 511,640 shares during the period. Swedbank AB’s holdings in Credo Technology Group were worth $145,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRDO. Crewe Advisors LLC raised its stake in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares during the period. Reflection Asset Management purchased a new stake in shares of Credo Technology Group in the fourth quarter worth $25,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Credo Technology Group in the fourth quarter worth $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group during the 4th quarter valued at $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Credo Technology Group during the 4th quarter valued at $36,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Key Credo Technology Group News

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

• Positive Sentiment: CRDO was added to Zacks’ Rank #1 (Strong Buy) growth stocks list, reinforcing a bullish analyst view and potentially attracting momentum investors.
• Positive Sentiment: Several articles highlighted Credo as an AI revenue accelerator, citing strong sales growth, buy ratings, and its role in the semiconductor supply chain serving AI infrastructure.
• Positive Sentiment: Commentary also pointed to Credo’s retimer business gaining traction, with demand for 100G and 200G-per-lane solutions supported by AI networking needs and design wins.
• Positive Sentiment: One Seeking Alpha piece said Credo scored a “major win” from Nvidia’s delay, suggesting a competitive timing advantage that could boost near-term business prospects.
• Positive Sentiment: MarketBeat and other coverage framed Credo as an overlooked AI hardware stock with outsized growth, while a separate article noted BlackRock’s sizable stake and recent Bank of America target-price increase, adding to investor confidence.
• Neutral Sentiment: Some articles were comparative, pitting Credo against Marvell Technology or discussing whether it is a better AI/connectivity stock in 2026, which is informative but not directly catalytic.
• Negative Sentiment: One Seeking Alpha article argued “Q3 Won’t Be As Kind,” indicating some concern that upcoming results or near-term momentum could be less favorable than recent quarters.

Insider Buying and Selling

In related news, CFO Daniel W. Fleming sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the sale, the chief financial officer directly owned 501,873 shares in the company, valued at approximately $125,207,276.04. The trade was a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, Director Sylvia Acevedo sold 2,208 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $211.00, for a total value of $465,888.00. Following the transaction, the director directly owned 16,337 shares of the company’s stock, valued at approximately $3,447,107. The trade was a 11.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 363,372 shares of company stock valued at $76,926,125 in the last ninety days. Company insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Performance

CRDO opened at $246.40 on Wednesday. The stock has a market capitalization of $45.95 billion, a price-to-earnings ratio of 99.35, a PEG ratio of 1.21 and a beta of 3.20. The company has a fifty day moving average of $223.55 and a 200 day moving average of $162.25. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping 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 32.30%. The business had revenue of $437.00 million for the quarter, compared to analysts’ expectations of $431.80 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business’s quarterly revenue was up 157.0% compared to the same quarter last year. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Susquehanna upped their target price on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. raised their price target on Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Rothschild & Co Redburn initiated coverage on Credo Technology Group in a research report on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective on the stock. Bank of America upped their price objective on Credo Technology Group from $252.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, Evercore initiated coverage on Credo Technology Group in a research report on Monday, June 22nd. They set an “outperform” rating and a $325.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $263.11.

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.