Credo Technology Group Holding Ltd. $CRDO Shares Purchased by Swiss National Bank

Swiss National Bank raised its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 11.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 477,097 shares of the company’s stock after acquiring an additional 50,500 shares during the period. Swiss National Bank owned approximately 0.26% of Credo Technology Group worth $44,785,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRDO. Crewe Advisors LLC raised its holdings in Credo Technology Group by 163.1% in 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 during the period. Reflection Asset Management purchased a new stake in Credo Technology Group during the fourth quarter worth approximately $25,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter worth $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Credo Technology Group in the 4th quarter valued at $36,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the sale, the chief executive officer owned 367,327 shares in the company, valued at $80,286,662.39. This trade represents a 13.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel W. Fleming sold 40,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the sale, the chief financial officer owned 501,873 shares in the company, valued at $125,207,276.04. This represents a 7.38% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 302,162 shares of company stock valued at $70,897,646. Insiders own 11.84% of the company’s stock.

Credo Technology Group Price Performance

Credo Technology Group stock 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 capitalization 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 firm’s fifty day moving average price is $233.42 and its 200 day moving average price is $168.92.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRDO. Evercore assumed coverage on shares of Credo Technology Group in a research report on Monday, June 22nd. They set an “outperform” rating and a $325.00 price target for the company. Rothschild & Co Redburn assumed coverage on Credo Technology Group in a research report on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective on the stock. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Needham & Company LLC upped their target price 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. Finally, Bank of America increased their target price on Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Two 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. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $266.17.

More 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

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.