OMERS ADMINISTRATION Corp Increases Stake in Credo Technology Group Holding Ltd. $CRDO

OMERS ADMINISTRATION Corp raised its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 83.6% in the first quarter, Holdings Channel reports. The firm owned 18,361 shares of the company’s stock after acquiring an additional 8,363 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Credo Technology Group were worth $1,724,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CRDO. NewEdge Advisors LLC grew its holdings in shares of Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after buying an additional 3,972 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Credo Technology Group by 63.0% in the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Credo Technology Group by 2.3% in 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 worth $12,480,000 after acquiring an additional 7,107 shares during the last quarter. CW Advisors LLC bought a new position in Credo Technology Group in the 2nd quarter valued at approximately $288,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Credo Technology Group by 198.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after purchasing an additional 333 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Price Performance

Shares of CRDO opened at $177.50 on Thursday. The firm has a market capitalization of $33.10 billion, a P/E ratio of 71.57, a PEG ratio of 0.88 and a beta of 3.20. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67. The business has a fifty day moving average of $236.68 and a 200 day moving average of $171.23.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The company had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.Credo Technology Group’s revenue was up 157.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Roth Capital lifted their target price on Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. TD Cowen increased their price objective on Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Susquehanna upped their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Finally, Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $266.17.

Insider Activity

In related news, CFO Daniel W. Fleming sold 7,580 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the completion of the sale, the chief financial officer directly owned 504,708 shares in the company, valued at approximately $124,097,603.04. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $205.54, for a total transaction of $5,652,350.00. Following the sale, the chief technology officer directly owned 5,799,870 shares of the company’s stock, valued at approximately $1,192,105,279.80. This represents a 0.47% decrease in their ownership of the stock. 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. Insiders have sold a total of 329,662 shares of company stock valued at $77,732,771 in the last ninety days. Insiders own 11.84% of the company’s stock.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: A Seeking Alpha analysis argued that the CRDO sell-off looks overblown, pointing to the company’s strong AI-related growth prospects and suggesting the recent weakness may create an attractive entry point. Credo Stock Sell-Off Looks Overblown
• Positive Sentiment: Credo was included in Zacks’ Rank #1 (Strong Buy) growth-stock list, reinforcing favorable near-term analyst sentiment. Best Growth Stocks to Buy for July 28th
• Positive Sentiment: Analyst coverage remains supportive, with a broad “Buy” consensus and price targets above recent trading levels. The company’s latest reported quarter also showed 157% year-over-year revenue growth, earnings above expectations, and a 35.37% net margin.
• Neutral Sentiment: Credo’s chief technology officer, Chi Fung Cheng, sold 27,500 shares for approximately $5.65 million at an average price of $205.54 on July 27. The sale reduced his holdings by only 0.47%, and it was conducted under a pre-arranged Rule 10b5-1 plan. SEC insider transaction filing
• Negative Sentiment: The CTO has made several scheduled sales in recent months, including another 27,500-share transaction on July 21. While the transactions appear routine and he still owns roughly 5.8 million shares, repeated insider selling can weigh on sentiment, particularly after CRDO’s significant run-up.
• Negative Sentiment: MarketBeat characterized Credo among AI stocks undergoing a summer pullback. Investors may be locking in gains across the AI and semiconductor sector despite continued data-center spending and intact long-term growth catalysts. 5 AI Stocks Are Pulling Back

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.