OPTIMAS CAPITAL Ltd Buys New Holdings in Credo Technology Group Holding Ltd. $CRDO

OPTIMAS CAPITAL Ltd purchased a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,900 shares of the company’s stock, valued at approximately $1,928,000. Credo Technology Group comprises 2.6% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 12th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of CRDO. Bank of America Corp DE lifted its holdings in shares of Credo Technology Group by 13.7% in the 2nd quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock worth $593,603,000 after acquiring an additional 262,479 shares during the last quarter. Atreides Management LP grew its holdings in shares of Credo Technology Group by 3.5% during the 2nd quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock valued at $307,109,000 after purchasing an additional 38,052 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Credo Technology Group by 192.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock valued at $98,290,000 after purchasing an additional 688,596 shares during the last quarter. Value Aligned Research Advisors LLC purchased a new position in Credo Technology Group in the 2nd quarter worth $91,919,000. Finally, Zevenbergen Capital Investments LLC raised its position in Credo Technology Group by 4.9% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 418,991 shares of the company’s stock worth $81,615,000 after purchasing an additional 19,685 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group News Roundup

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

• Positive Sentiment: A Seeking Alpha contributor upgraded Credo, arguing that the recent sell-off has gone far enough—potentially signaling that the lower share price has improved the risk-reward profile. Credo: The Sell-Off Has Done Its Job (Rating Upgrade)
• Positive Sentiment: Credo and Oracle secured Open Compute Project approval for two optical telemetry standards, supporting Credo’s role in developing connectivity and reliability for next-generation AI data centers. Credo and Oracle Drive AI Optical Innovation
• Neutral Sentiment: Coverage notes that Credo and other AI-hardware companies have delivered strong results, but cautions that supply bottlenecks and customer concentration could limit further gains. The AI Boom Is Creating a New Set of Winners
• Negative Sentiment: A broader tech-sector decline drove a steep drop in CRDO, as investors reassessed AI-related stocks. Separate coverage tied the sell-off to fears that political changes could pose a downside risk to AI spending; that concern, however, has not appeared in Credo’s guidance or analyst estimates. Tech selloff sends Credo Technology down Credo Sinks as Political Fears Weigh on AI Stocks

Analysts Set New Price Targets

Several research firms have weighed in on CRDO. Bank of America lowered their price target on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, September 2nd. Susquehanna raised their price objective on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. decreased their price objective on Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. Zacks Research downgraded Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Wall Street Zen lowered Credo Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

Credo Technology Group Stock Up 7.3%

Shares of Credo Technology Group stock traded up $8.18 on Friday, hitting $120.51. The stock had a trading volume of 9,638,654 shares, compared to its average volume of 8,559,310. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67. The stock’s 50-day simple moving average is $178.67 and its two-hundred day simple moving average is $180.29. The stock has a market cap of $22.65 billion, a price-to-earnings ratio of 42.89, a PEG ratio of 0.56 and a beta of 3.29.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The firm’s revenue was up 114.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. As a group, equities analysts predict that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other news, COO Yat Lam sold 50,000 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $206.30, for a total transaction of $10,315,000.00. Following the completion of the sale, the chief operating officer directly owned 2,479,169 shares in the company, valued at approximately $511,452,564.70. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Brennan sold 16,672 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $151.88, for a total transaction of $2,532,143.36. Following the sale, the chief executive officer owned 1,600,830 shares of the company’s stock, valued at approximately $243,134,060.40. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 352,538 shares of company stock worth $67,200,077. 9.06% of the stock is currently owned by company insiders.

About Credo Technology Group

Credo Technology Group designs and supplies high-speed connectivity solutions for data infrastructure, including data centers and networking systems. Its products help move data between processors, servers, switches and other equipment used in demanding, high-bandwidth environments.

The company’s offerings include active electrical cables, semiconductor and optical digital signal processing products, retimers, and other connectivity components. These solutions are used in applications such as cloud computing and artificial intelligence infrastructure.

Credo is headquartered in San Jose, California, and serves customers in the global data infrastructure market.