Credo Technology Group Holding Ltd. $CRDO Position Boosted by Swiss National Bank

Swiss National Bank increased its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 11.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 477,097 shares of the company’s stock after purchasing an additional 50,500 shares during the period. Swiss National Bank’s holdings in Credo Technology Group were worth $44,785,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRDO. Crewe Advisors LLC raised its stake in Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after buying an additional 106 shares in the last quarter. Reflection Asset Management acquired a new position in shares of Credo Technology Group in the 4th quarter worth approximately $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Credo Technology Group in the 4th quarter worth approximately $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group in the 4th quarter valued at approximately $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Credo Technology Group in the 4th quarter valued at approximately $36,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Trading Up 2.0%

Shares of NASDAQ CRDO opened at $228.27 on Thursday. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67. The company has a market cap of $42.57 billion, a price-to-earnings ratio of 92.04, a price-to-earnings-growth ratio of 1.02 and a beta of 3.20. The stock’s 50 day simple moving average is $233.42 and its 200 day simple moving average is $168.92.

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

Key Credo Technology Group News

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

• Positive Sentiment: Several recent write-ups highlight Credo as a leading AI connectivity play, benefiting from hyperscalers’ need for higher-speed connections in data centers and positioning the company as a “backbone” supplier for AI infrastructure. Article Title
• Positive Sentiment: Articles citing fund commentary suggest Credo’s Q2 strength is being driven by rising connectivity demand, which is reinforcing the market’s view that the company can keep growing rapidly as AI spending expands. Article Title
• Positive Sentiment: Recent coverage also points to a bullish thesis upgrade and price-target discussion, implying that some investors see the recent pullback as a buying opportunity rather than a trend reversal. Article Title
• Neutral Sentiment: One comparison piece versus Marvell argues that Credo and Marvell both benefit from AI connectivity demand, but their growth, margin, and outlook profiles differ, which keeps investor debate focused on relative valuation and execution. Article Title
• Negative Sentiment: Some commentary warns that CRDO has been highly volatile, including a sharp weekly sell-off and concerns that the stock may have already priced in much of the AI optimism, which could limit near-term upside. Article Title

Analysts Set New Price Targets

CRDO has been the topic of several research analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $250.00 price objective on shares of Credo Technology Group in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their target price on shares of Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. Susquehanna increased their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a report on Tuesday. TD Cowen raised their price target on shares of Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings raised shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $266.17.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the transaction, the chief financial officer directly owned 501,873 shares of the company’s stock, valued at $125,207,276.04. The trade was a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $243.06, for a total transaction of $6,684,150.00. Following the transaction, the chief technology officer directly owned 5,882,370 shares of the company’s stock, valued at $1,429,768,852.20. The trade was a 0.47% 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 sold 302,162 shares of company stock worth $70,897,646. Insiders own 11.84% of the company’s stock.

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.