Magnetar Financial LLC Reduces Stake in Credo Technology Group Holding Ltd. $CRDO

Magnetar Financial LLC cut its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 42.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,832 shares of the company’s stock after selling 35,072 shares during the quarter. Magnetar Financial LLC’s holdings in Credo Technology Group were worth $6,965,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in shares of Credo Technology Group by 128.4% in 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 in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of 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 buying an additional 589,151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 buying an additional 7,107 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Credo Technology Group by 17.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 75,869 shares of the company’s stock valued at $7,025,000 after acquiring an additional 11,233 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in Credo Technology Group during the 2nd quarter valued at about $239,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, Director Sylvia Acevedo sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $159.18, for a total value of $350,196.00. Following the sale, the director directly owned 18,545 shares of the company’s stock, valued at approximately $2,951,993.10. This trade represents a 10.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $128.67, for a total value of $241,256.25. Following the completion of the sale, the director owned 5,892,034 shares of the company’s stock, valued at $758,128,014.78. This trade represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 861,101 shares of company stock valued at $126,611,953. 11.84% of the stock is currently owned by insiders.

Key Credo Technology Group News

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

• Positive Sentiment: Huge Q3 beat and hypergrowth — Credo reported ~201.5% YoY revenue growth, an EPS beat and strong profitability metrics that validate rapid data‑center demand and support long‑term upside. Credo Technologies Hits Bottom: Now Is the Time to Buy
• Positive Sentiment: New ZeroFlap optics product could lift future margins and wins — Credo unveiled ZeroFlap optics aimed at much higher reliability and lower power for AI data centers, a product-market fit that could accelerate bookings if hyperscalers ramp. Can Accelerating ZeroFlap Optics Ramp Buoy Credo’s Growth Trajectory?
• Positive Sentiment: Industry momentum / peer catalysts — Broadcom’s Q1 strength has been cited as a tailwind for connectivity suppliers, with Credo named as a beneficiary of stronger hyperscaler capex. The Real Winner from Broadcom’s Q1 Earnings Is This 1 Lesser-Known Stock
• Neutral Sentiment: Institutional positioning and analyst coverage point to conviction but also mixed price targets — institutional accumulation is support, yet targets vary. Credo Technologies Hits Bottom: Now Is the Time to Buy
• Neutral Sentiment: Reported short‑interest data appears inconsistent/garbled (zero shares / NaN increases); the print is unreliable and shouldn’t be taken as a clear bearish signal. (Data entries dated March 9–10.)
• Neutral Sentiment: Reference financials available for deeper due diligence (Barron’s company financial page). Credo Technology Group Holding Ltd. Financials
• Negative Sentiment: Near‑term sentiment headwinds — the post‑earnings period produced a sell‑the‑news reaction; management flagged some gross‑margin compression and client concentration risks (three large hyperscaler customers), which can pressure the stock until further order visibility emerges. Credo Technologies Hits Bottom: Now Is the Time to Buy

Analyst Upgrades and Downgrades

CRDO has been the subject of a number of research reports. Craig Hallum restated a “buy” rating and set a $200.00 target price on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Bank of America increased their price target on shares of Credo Technology Group from $165.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Barclays reissued an “overweight” rating and set a $260.00 price objective on shares of Credo Technology Group in a research note on Thursday, January 15th. KGI Securities raised Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 target price on the stock in a research note on Tuesday, December 2nd. Finally, Stifel Nicolaus set a $200.00 price target on Credo Technology Group in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $206.33.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $112.33 on Wednesday. The firm has a market cap of $20.72 billion, a PE ratio of 62.41 and a beta of 2.67. The firm has a 50 day simple moving average of $128.47 and a 200-day simple moving average of $143.44. Credo Technology Group Holding Ltd. has a 1-year low of $29.09 and a 1-year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The firm had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. Credo Technology Group’s revenue was up 201.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 earnings per share. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 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.