Stark Wealth Management LLC Takes $334,000 Position in Credo Technology Group Holding Ltd. $CRDO

Stark Wealth Management LLC acquired a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,322 shares of the company’s stock, valued at approximately $334,000. Credo Technology Group makes up 1.2% of Stark Wealth Management LLC’s investment portfolio, making the stock its 25th largest position.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC raised its holdings in Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares during the period. Acumen Wealth Advisors LLC bought a new position in Credo Technology Group in the 4th quarter worth $25,000. Flagship Harbor Advisors LLC bought a new position in Credo Technology Group in the 4th quarter worth $32,000. Smallwood Wealth Investment Management LLC bought a new position in Credo Technology Group in the 4th quarter worth $36,000. Finally, Van ECK Associates Corp bought a new position in Credo Technology Group in the 4th quarter worth $37,000. 80.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CRDO. JPMorgan Chase & Co. raised their target price on Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Stifel Nicolaus set a $250.00 price objective on shares of Credo Technology Group in a research note on Wednesday, May 27th. The Goldman Sachs Group restated a “buy” rating and set a $250.00 price objective on shares of Credo Technology Group in a research 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 report on Tuesday, May 19th. Finally, Rosenblatt Securities raised their price objective on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $248.41.

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?

Insider Activity at Credo Technology Group

In related news, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $218.57, for a total transaction 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 approximately $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 SEC, which is accessible through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $118.25, for a total transaction of $3,251,875.00. Following 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. 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. Over the last ninety days, insiders sold 389,384 shares of company stock valued at $66,025,968. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $259.41 on Tuesday. The company has a market capitalization of $47.85 billion, a price-to-earnings ratio of 104.60, a PEG ratio of 1.32 and a beta of 3.22. Credo Technology Group Holding Ltd. has a one year low of $75.50 and a one year high of $270.21. The company’s fifty day moving average price is $187.62 and its 200-day moving average price is $151.53.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.02 by $0.14. The firm had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The company’s revenue was up 157.0% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS. Equities research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

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.