Massachusetts Financial Services Co. MA Takes $1.82 Million Position in Credo Technology Group Holding Ltd. $CRDO

Massachusetts Financial Services Co. MA acquired a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 12,679 shares of the company’s stock, valued at approximately $1,824,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Credo Technology Group by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 16,525,380 shares of the company’s stock valued at $2,406,261,000 after purchasing an additional 150,012 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Credo Technology Group by 18.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock valued at $1,121,118,000 after purchasing an additional 1,190,522 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after purchasing an additional 1,218,504 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after purchasing an additional 1,406,752 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Credo Technology Group by 47.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,624,690 shares of the company’s stock valued at $236,571,000 after purchasing an additional 525,585 shares during the last quarter. 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: Acquisition catalyst — Credo agreed to acquire DustPhotonics for about $750M to add silicon‑photonic PIC technology and expand its addressable market in AI/data‑center optical connectivity; this deal is the main driver behind recent buying interest. Read More.
• Positive Sentiment: Analyst upgrade from Zacks — Zacks moved CRDO to a Rank #1 (Strong Buy), signaling improved near‑term earnings optimism that can attract momentum buyers. Read More.
• Positive Sentiment: Brokerage support and price‑target lifts — Multiple firms have issued bullish notes or higher targets (examples include Mizuho, Rosenblatt and others), reinforcing the growth narrative and feeding demand. Read More.
• Positive Sentiment: Bullish market commentary — Several market commentators and buy‑the‑dip investors have publicly argued the optical pivot supports further upside, which can sustain momentum among retail and tactical funds. Read More.
• Neutral Sentiment: ESG disclosure — Credo published its first FY2025 GHG report, improving transparency (plans to add Scope 3). This may broaden investor interest over time but is unlikely to change near‑term fundamentals. Read More.
• Neutral Sentiment: Analyst signal mix — While several firms are bullish, some ratings remain neutral or mixed; differing views can amplify short‑term swings as investors debate valuation. Read More.
• Neutral Sentiment: M&A execution watchlist — Management indicated follow‑up investor calls/transcripts and integration details are forthcoming; timing and cost synergies will matter for modeling long‑term upside. Read More.
• Negative Sentiment: Insider selling — Several insiders have sold shares recently (e.g., James Laufman sold 10,000 shares at ~$164.41; CFO Daniel Fleming sold 7,580 shares under a 10b5‑1 plan). Although some sales are pre‑arranged, traders cite them as prompts for profit‑taking. Read More. Read More.
• Negative Sentiment: Profit‑taking and valuation risk — After a large multi‑week run and rich multiples, CRDO is more sensitive to mixed research notes, insider sales, and rotations away from high‑beta/AI‑related names, raising the chance of short‑term pullbacks. Read More.

Analysts Set New Price Targets

Several analysts have recently commented on CRDO shares. Barclays reiterated an “overweight” rating and set a $260.00 price objective on shares of Credo Technology Group in a report on Thursday, January 15th. Craig Hallum reiterated a “buy” rating and set a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Susquehanna decreased their price objective on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a report on Tuesday, March 3rd. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Credo Technology Group in a report on Wednesday. Finally, Mizuho decreased their price objective on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.81.

Insiders Place Their Bets

In related news, CTO Chi Fung Cheng sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $136.33, for a total value of $4,089,900.00. Following the completion of the transaction, the chief technology officer owned 6,327,370 shares in the company, valued at $862,610,352.10. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Joseph Brennan sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the completion of the transaction, the chief executive officer owned 1,782,502 shares of the company’s stock, valued at $209,764,835.36. This trade represents a 2.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 403,999 shares of company stock valued at $47,532,345 in the last 90 days. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $160.69 on Friday. The firm has a market capitalization of $29.64 billion, a price-to-earnings ratio of 89.27 and a beta of 2.72. The business has a fifty day moving average of $116.19 and a 200 day moving average of $137.29. Credo Technology Group Holding Ltd. has a 1 year low of $33.04 and a 1 year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million during the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm’s quarterly revenue was up 201.5% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. As a group, equities research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

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.