Legato Capital Management LLC Cuts Stake in Credo Technology Group Holding Ltd. $CRDO

Posted by Trevor Kearing on Mar 3rd, 2026

Legato Capital Management LLC lowered its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Free Report) by 19.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,434 shares of the company’s stock after selling 6,238 shares during the period. Legato Capital Management LLC’s holdings in Credo Technology Group were worth $3,703,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the stock. California Public Employees Retirement System increased its position in shares of Credo Technology Group by 17.2% in the second quarter. California Public Employees Retirement System now owns 257,567 shares of the company’s stock valued at $23,848,000 after acquiring an additional 37,772 shares during the period. Optimize Financial Inc bought a new position in shares of Credo Technology Group in the 3rd quarter worth approximately $1,431,000. Estate Counselors LLC purchased a new position in Credo Technology Group during the third quarter valued at $2,548,000. Global Trust Asset Management LLC purchased a new position in Credo Technology Group during the 3rd quarter valued at about $2,167,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Credo Technology Group by 106.5% during the third quarter. New York State Common Retirement Fund now owns 146,134 shares of the company’s stock valued at $21,279,000 after purchasing an additional 75,369 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Stock Up 1.7%

Shares of CRDO stock opened at $114.22 on Tuesday. The company has a 50 day moving average price of $133.07 and a 200-day moving average price of $143.58. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $213.80. The firm has a market capitalization of $20.63 billion, a PE ratio of 100.19 and a beta of 2.67.

Credo Technology Group (NASDAQ:CRDO – Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.29. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The company had revenue of $407.01 million for the quarter, compared to analysts’ expectations of $385.94 million. During the same quarter last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 201.5% on a year-over-year basis. Analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Rosenblatt Securities initiated coverage on Credo Technology Group in a research note on Wednesday, January 21st. They set a “neutral” rating and a $170.00 price objective for the company. Roth Mkm lowered their price target on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. New Street Research set a $240.00 price objective on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Finally, Wolfe Research set a $240.00 target price on shares of Credo Technology Group in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group presently has an average rating of “Moderate Buy” and an average target price of $209.29.

Read Our Latest Analysis on CRDO

Insider Transactions at Credo Technology Group

In related news, COO Yat Tung Lam sold 370,000 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $153.19, for a total transaction of $56,680,300.00. Following the completion of the sale, the chief operating officer owned 400,000 shares in the company, valued at approximately $61,276,000. This represents a 48.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.70, for a total value of $9,608,500.00. Following the completion of the transaction, the chief technology officer directly owned 6,613,961 shares in the company, valued at $1,155,458,986.70. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 917,976 shares of company stock worth $136,567,647 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: Management now expects over 50% revenue growth for fiscal 2027 and said it is accelerating the commercial ramp of its ZeroFlap optics, which supports a growth narrative tied to AI infrastructure demand. Credo expects over 50% revenue growth for fiscal 2027 while accelerating ZeroFlap optics ramp
Positive Sentiment: Q3 results beat consensus: EPS $1.07 vs. $0.78 expected and revenue $407.0M vs. ~$386M consensus — revenue rose ~201% YoY and ~52% sequentially, with very healthy gross margins. These outcomes validate demand for Credo’s connectivity chips in AI/data center builds. Credo Technology Group Holding Ltd Reports Third Quarter of Fiscal Year 2026 Financial Results
Neutral Sentiment: Earnings call and transcripts are available for deeper color on product ramps, customer cadence and margin drivers — useful for verifying management’s FY27 assumptions. Credo Technology Group Holding Ltd (CRDO) Q3 2026 Earnings Call Transcript
Neutral Sentiment: Stifel trimmed its 12‑month price target to $200 from $225 but kept a Buy rating — that signals continued analyst conviction despite moderating near‑term upside expectations. Stifel Lowers Credo (CRDO) Price Target Despite Tensorwave AI Infrastructure Collaboration
Neutral Sentiment: Reported short‑interest data appearing as zero shares seems anomalous and shouldn’t be taken at face value; liquidity and options activity are elevated around earnings, which can exaggerate intraday moves.
Negative Sentiment: Shares slipped in extended trading and some headlines noted a late selloff after earnings — intraday weakness reflects profit‑taking after a multi‑year run and investor focus on near‑term execution risk. Credo Stock Slips After Q3 Results
Negative Sentiment: Broader market volatility — including a geopolitical shock tied to U.S.–Iran tensions — pressured futures and tech names, creating an external headwind that can amplify swings in high‑beta stocks like CRDO. Stock Market Today: Dow Jones, S&P 500 Futures Plunge After Closure Of Strait Of Hormuz—Coherent, Credo Technology, CrowdStrike In Focus

About Credo Technology Group

(Free Report)

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.