Scge Management L.P. Purchases Shares of 570,000 Credo Technology Group Holding Ltd. $CRDO

Scge Management L.P. purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 570,000 shares of the company’s stock, valued at approximately $82,017,000. Credo Technology Group makes up approximately 1.9% of Scge Management L.P.’s investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds have also recently bought and sold shares of CRDO. NewEdge Advisors LLC grew its stake in Credo Technology Group by 128.4% in the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after purchasing an additional 3,972 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after purchasing an additional 589,151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Credo Technology Group by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock valued at $12,480,000 after purchasing an additional 7,107 shares in the last quarter. CW Advisors LLC bought a new position in Credo Technology Group in the second quarter valued at approximately $288,000. Finally, EverSource Wealth Advisors LLC grew its stake in Credo Technology Group by 198.2% in the second quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after purchasing an additional 333 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of analyst reports. Susquehanna raised their price target on Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a research note on Tuesday, June 2nd. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. TD Cowen raised their price objective on Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Needham & Company LLC lifted their target price on Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $248.41.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, expanding its optical connectivity and silicon photonics portfolio for AI and cloud networking demand. The deal supports higher-speed products and could help drive growth as optical revenue ramps in coming fiscal years. Credo Technology (CRDO) Completes Acquisition of DustPhotonics to Expand Optical Connectivity Portfolio
• Positive Sentiment: Several articles highlighted Credo as a top-ranked or bullish AI-related stock, citing strong growth prospects, rising estimates, and favorable technical momentum. 3 Top Ranked Stocks Investors Can Buy Right Now
• Positive Sentiment: Analyst commentary remains constructive after earnings, with price target increases and expectations for continued strong revenue and earnings growth tied to AI infrastructure spending. Mizuho Raises PT on Credo Technology (CRDO) After FQ4 2026 Earnings
• Neutral Sentiment: Insider sales by Director Fariba Danesh and CTO Chi Fung Cheng may have added some caution, but the CTO sale was described as part of a pre-arranged plan to cover tax withholding on equity awards, limiting the bearish signal. Credo Technology Group (NASDAQ:CRDO) Director Fariba Danesh Sells 1,100 Shares
• Neutral Sentiment: Some coverage pointed to customer concentration risk, though management is working to diversify revenue beyond a few large hyperscale customers. Credo’s Diversification Push: Can It Cut Customer Concentration Risk?
• Negative Sentiment: A Seeking Alpha downgrade to “Hold” suggests some investors think the stock may already reflect much of the near-term upside, especially after its strong run and rich valuation. Credo: Don’t Chase This Winner Over The Cliff – Downgrade To Hold

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $250.81 on Monday. Credo Technology Group Holding Ltd. has a 12 month low of $72.03 and a 12 month high of $270.21. The stock has a 50 day moving average of $184.46 and a 200-day moving average of $150.79. The company has a market capitalization of $46.26 billion, a P/E ratio of 101.13, a P/E/G ratio of 1.32 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The company had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same period in the previous year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 157.0% compared to the same quarter last year. Analysts predict that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Insider Activity at Credo Technology Group

In related news, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $103.19, for a total value of $2,837,725.00. Following the sale, the chief technology officer directly owned 6,162,370 shares of the company’s stock, valued at approximately $635,894,960.30. The trade was a 0.44% 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 a total of 376,884 shares of company stock valued at $59,014,018 over the last quarter. 11.84% of the stock is currently owned by corporate insiders.

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.