Mitchell Capital Management Co. Buys 9,691 Shares of Credo Technology Group Holding Ltd. $CRDO

Mitchell Capital Management Co. raised its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 126.0% in the fourth quarter, Holdings Channel reports. The fund owned 17,385 shares of the company’s stock after acquiring an additional 9,691 shares during the period. Mitchell Capital Management Co.’s holdings in Credo Technology Group were worth $2,502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC lifted its holdings in shares of 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 acquiring an additional 106 shares during the period. Atlantic Union Bankshares Corp bought a new position in shares of Credo Technology Group during the third quarter valued at $25,000. Flagship Harbor Advisors LLC bought a new position in shares of Credo Technology Group during the fourth quarter valued at $32,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Credo Technology Group during the fourth quarter valued at $36,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Credo Technology Group by 133.6% during the third quarter. Smartleaf Asset Management LLC now owns 257 shares of the company’s stock valued at $38,000 after acquiring an additional 147 shares during the period. 80.46% of the stock is owned by institutional investors.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

Credo Technology Group Stock Up 6.2%

Credo Technology Group stock opened at $236.03 on Friday. The stock has a 50-day simple moving average of $158.17 and a 200 day simple moving average of $144.98. Credo Technology Group Holding Ltd. has a 12-month low of $59.21 and a 12-month high of $240.81. The stock has a market capitalization of $43.54 billion, a price-to-earnings ratio of 131.13 and a beta of 3.17.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 201.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Rothschild & Co Redburn assumed coverage on Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 price objective for the company. The Goldman Sachs Group lifted their price objective on Credo Technology Group from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Rosenblatt Securities lifted their price objective on Credo Technology Group from $125.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Jefferies Financial Group initiated coverage on Credo Technology Group in a report on Monday, April 13th. They issued a “buy” rating and a $175.00 price target for the company. Finally, Stifel Nicolaus set a $250.00 price target on Credo Technology Group in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Credo Technology Group presently has an average rating of “Buy” and a consensus target price of $210.65.

Insider Transactions at Credo Technology Group

In related news, insider James Laufman sold 10,000 shares of Credo Technology Group stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total value of $1,644,100.00. Following the completion of the sale, the insider directly owned 198,609 shares in the company, valued at $32,653,305.69. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel W. Fleming sold 7,580 shares of Credo Technology Group stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $152.63, for a total value of $1,156,935.40. Following the completion of the sale, the chief financial officer owned 433,678 shares of the company’s stock, valued at approximately $66,192,273.14. The trade was a 1.72% 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 have sold 386,608 shares of company stock valued at $50,371,351 in the last three months. Company insiders own 11.84% of the company’s stock.

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.