Stephens Investment Management Group LLC Grows Stock Position in Credo Technology Group Holding Ltd. $CRDO

Stephens Investment Management Group LLC lifted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 21.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 433,668 shares of the company’s stock after buying an additional 78,015 shares during the period. Stephens Investment Management Group LLC’s holdings in Credo Technology Group were worth $40,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Astoria Portfolio Advisors LLC. bought a new position in Credo Technology Group in the first quarter worth approximately $150,000. Revisor Wealth Management LLC grew its position in shares of Credo Technology Group by 151.5% during the 1st quarter. Revisor Wealth Management LLC now owns 9,477 shares of the company’s stock valued at $890,000 after acquiring an additional 5,709 shares during the period. QRG Capital Management Inc. increased its stake in shares of Credo Technology Group by 1.7% in the 1st quarter. QRG Capital Management Inc. now owns 5,402 shares of the company’s stock worth $507,000 after purchasing an additional 91 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in shares of Credo Technology Group in the 1st quarter worth $4,531,000. Finally, Counterpoint Mutual Funds LLC raised its holdings in Credo Technology Group by 2,516.3% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 53,609 shares of the company’s stock worth $5,032,000 after purchasing an additional 51,560 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo’s Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Insider Buying and Selling at Credo Technology Group

In related news, CEO William Joseph Brennan sold 54,984 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $218.57, for a total value of $12,017,852.88. Following the sale, the chief executive officer owned 367,327 shares in the company, valued at approximately $80,286,662.39. The trade was a 13.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sylvia Acevedo sold 2,208 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $211.00, for a total transaction of $465,888.00. Following the sale, the director directly owned 16,337 shares in the company, valued at approximately $3,447,107. The trade was a 11.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 390,872 shares of company stock worth $79,763,850. Company insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Performance

CRDO stock opened at $241.91 on Friday. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67. The company’s fifty day moving average price is $220.92 and its 200-day moving average price is $160.44. The company has a market capitalization of $45.11 billion, a PE ratio of 97.54, a price-to-earnings-growth ratio of 1.11 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last issued 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 return on equity of 32.30% and a net margin of 35.37%.The firm had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same quarter last year, the business posted $0.20 earnings per share. The business’s quarterly revenue was up 157.0% compared to the same quarter last year. On average, research analysts predict that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRDO has been the subject of several recent research reports. TD Cowen boosted their price target on Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Susquehanna lifted their price objective on Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a research report on Tuesday, June 2nd. Evercore started coverage on Credo Technology Group in a research note on Monday, June 22nd. They set an “outperform” rating and a $325.00 price objective for the company. Bank of America increased their target price on shares of Credo Technology Group from $252.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Rothschild & Co Redburn began coverage on shares of Credo Technology Group in a research note on Friday, May 1st. They set a “buy” rating and a $206.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Credo Technology Group has an average rating of “Buy” and a consensus price target of $263.11.

Credo Technology Group Company 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.