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

Stark Wealth Management LLC bought a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,322 shares of the company’s stock, valued at approximately $334,000. Credo Technology Group accounts for about 1.2% of Stark Wealth Management LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRDO. NewEdge Advisors LLC grew its position in Credo Technology Group by 128.4% during the 1st 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 worth $61,235,000 after buying an additional 589,151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Credo Technology Group by 2.3% during 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 buying an additional 7,107 shares during the last quarter. CW Advisors LLC bought a new stake in shares of Credo Technology Group during the second quarter valued at approximately $288,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Credo Technology Group by 198.2% during the second quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after acquiring an additional 333 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group News Roundup

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?

Credo Technology Group Trading Up 3.4%

Shares of CRDO opened at $259.41 on Tuesday. The business’s fifty day simple moving average is $187.62 and its two-hundred day simple moving average is $151.53. Credo Technology Group Holding Ltd. has a 12 month low of $75.50 and a 12 month high of $270.21. The company has a market cap of $47.85 billion, a price-to-earnings ratio of 104.60, 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, beating 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 business had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same period last year, the business posted $0.20 EPS. The company’s revenue was up 157.0% compared to the same quarter last year. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRDO. Jefferies Financial Group boosted their price objective on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Rothschild & Co Redburn initiated coverage on 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. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Susquehanna increased their target price 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. Finally, Bank of America increased their target price on Credo Technology Group from $210.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Credo Technology Group currently has an average rating of “Moderate Buy” and a consensus price target of $248.41.

Insider Transactions at Credo Technology Group

In other news, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total value of $12,017,852.88. Following the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. This trade represents a 13.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel W. Fleming sold 40,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 501,873 shares in the company, valued at approximately $125,207,276.04. This trade 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. Insiders have sold a total of 389,384 shares of company stock worth $66,025,968 in the last ninety days. Insiders own 11.84% of the company’s stock.

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.