Credo Technology Group Holding Ltd. $CRDO Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC raised its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 55.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,051 shares of the company’s stock after purchasing an additional 23,949 shares during the quarter. Lazard Asset Management LLC’s holdings in Credo Technology Group were worth $6,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Crewe Advisors LLC lifted its holdings in shares of Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after buying an additional 106 shares during the period. Reflection Asset Management acquired a new stake in Credo Technology Group during the fourth quarter worth about $25,000. Acumen Wealth Advisors LLC acquired a new stake in Credo Technology Group during the fourth quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new position in Credo Technology Group during the fourth quarter valued at approximately $32,000. Finally, AlphaCentric Advisors LLC purchased a new position in Credo Technology Group during the first quarter valued at approximately $33,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Needham & Company LLC upped their price objective on Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Rosenblatt Securities lifted their target price on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Stifel Nicolaus increased their price target on shares of Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Susquehanna raised their price target on shares of Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Credo Technology Group presently has a consensus rating of “Buy” and an average target price of $266.17.

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 7,580 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the transaction, the chief financial officer directly owned 504,708 shares of the company’s stock, valued at $124,097,603.04. This trade represents a 1.48% 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, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $205.54, for a total transaction of $5,652,350.00. Following the completion of the sale, the chief technology officer owned 5,799,870 shares in the company, valued at approximately $1,192,105,279.80. This trade represents a 0.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 302,162 shares of company stock worth $72,810,546 in the last three months. 11.84% of the stock is owned by corporate insiders.

More Credo Technology Group News

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

• Positive Sentiment: Zacks named CRDO a Rank #1 (Strong Buy) growth stock on July 30, reinforcing favorable analyst sentiment and potentially attracting growth-oriented investors. Best Growth Stocks to Buy for July 30th
• Positive Sentiment: Credo’s latest quarterly results remain a fundamental tailwind: revenue rose 157% year over year to $437 million, while earnings of $1.16 per share exceeded the $1.02 consensus estimate. Analysts currently maintain a consensus “Buy” rating with an average price target of $266.17.
• Positive Sentiment: A Seeking Alpha analysis said the recent CRDO sell-off may be overdone, citing the company’s exposure to artificial-intelligence infrastructure and long-term data-center connectivity growth. Credo Stock Sell-Off Looks Overblown
• Neutral Sentiment: CTO Chi Fung Cheng sold 27,500 shares for approximately $5.65 million at an average price of $205.54. The transaction was executed under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only 0.47%; he still owns roughly 5.8 million shares. SEC insider transaction filing
• Negative Sentiment: The latest sale follows a series of scheduled Cheng transactions, including another 27,500-share sale on July 21 for about $6.11 million and additional sales in June and July. Repeated insider selling is weighing on sentiment after CRDO’s substantial prior rally, even though the sales appear routine.
• Negative Sentiment: Technical pressure is also evident: the stock remains below its 50-day moving average, while its elevated valuation and high beta leave it vulnerable to profit-taking across AI and semiconductor shares.

Credo Technology Group Trading Up 13.3%

Shares of CRDO stock opened at $201.08 on Friday. The company has a market capitalization of $37.50 billion, a P/E ratio of 81.08, a P/E/G ratio of 0.81 and a beta of 3.20. The business’s 50 day moving average is $236.83 and its two-hundred day moving average is $171.59. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The business had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business’s revenue was up 157.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. On average, research analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

Credo Technology Group 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.