9,550 Shares in Credo Technology Group Holding Ltd. $CRDO Acquired by Faithward Advisors LLC

Faithward Advisors LLC purchased a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 9,550 shares of the company’s stock, valued at approximately $1,374,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Credo Technology Group by 9.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock worth $39,004,000 after purchasing an additional 23,332 shares during the last quarter. FengHe Fund Management Pte. Ltd. raised its stake in shares of Credo Technology Group by 5.7% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock worth $23,349,000 after purchasing an additional 8,769 shares during the last quarter. M&T Bank Corp raised its stake in shares of Credo Technology Group by 428.8% in the fourth quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock worth $1,932,000 after purchasing an additional 10,888 shares during the last quarter. TD Asset Management Inc bought a new position in Credo Technology Group during the 3rd quarter valued at $17,454,000. Finally, Second Line Capital LLC bought a new position in Credo Technology Group during the 3rd quarter valued at $4,283,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Credo Technology Group

In other news, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total value of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. This trade represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $118.25, for a total value of $3,251,875.00. Following the completion of the transaction, the chief technology officer directly owned 6,134,870 shares of the company’s stock, valued at $725,448,377.50. The trade was a 0.45% 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. Insiders sold 389,384 shares of company stock valued at $66,025,968 over the last three months. Company insiders own 11.84% of the company’s stock.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo remains a beneficiary of the AI data-center upgrade cycle, with analysts citing stronger demand for its connectivity products and growing optical-scale opportunities. Credo Technology Rides the AI Interconnect Upgrade Cycle
• Positive Sentiment: Recent commentary continued to frame CRDO as a momentum name after its strong earnings-driven rally, reinforcing bullish interest in the stock. Credo Technology Group Holding Ltd. (CRDO) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: CFO Daniel Fleming sold 40,000 shares under a 10b5-1 plan to cover tax obligations related to equity vesting, which is more administrative than a negative business signal. SEC Form 4 filing
• Negative Sentiment: Some reports warned that after a steep rally, CRDO’s valuation is becoming rich, leaving the shares vulnerable if growth, margins, or customer ramps disappoint. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $259.41 on Tuesday. The business has a fifty day simple moving average of $187.62 and a two-hundred day simple moving average of $151.53. Credo Technology Group Holding Ltd. has a 1 year low of $75.50 and a 1 year high of $270.21. The company has a market capitalization of $47.85 billion, a P/E ratio of 104.60, a P/E/G ratio of 1.32 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The business had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same period last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 157.0% on a year-over-year basis. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Stifel Nicolaus set a $250.00 price objective on shares of Credo Technology Group in a report on Wednesday, May 27th. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Mizuho increased their price target on Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Susquehanna increased their price target on Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $248.41.

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.