Credo Technology Group Holding Ltd. $CRDO Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 79.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,151 shares of the company’s stock after purchasing an additional 7,605 shares during the quarter. Pacer Advisors Inc.’s holdings in Credo Technology Group were worth $2,468,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Crewe Advisors LLC raised its stake in shares of Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after buying an additional 106 shares during the last quarter. Acumen Wealth Advisors LLC purchased a new stake in shares of Credo Technology Group in the 4th quarter worth about $25,000. Flagship Harbor Advisors LLC acquired a new stake in Credo Technology Group in the 4th quarter valued at about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Credo Technology Group in the 4th quarter valued at about $36,000. Finally, Van ECK Associates Corp purchased a new position in Credo Technology Group during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of several research reports. Susquehanna raised their price objective on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research note on Tuesday, June 2nd. Bank of America upped 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. Rosenblatt Securities upped their price objective on Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Craig Hallum reaffirmed a “buy” rating and set a $200.00 price objective on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Finally, Mizuho lifted their price objective on Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Buy” and a consensus target price of $263.11.

Insiders Place Their Bets

In other news, CFO Daniel W. Fleming sold 40,000 shares of Credo Technology Group 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 sale, the chief financial officer owned 501,873 shares of the company’s stock, valued at $125,207,276.04. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. 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 value of $465,888.00. Following the completion of the transaction, the director owned 16,337 shares of the company’s stock, valued at $3,447,107. The trade was a 11.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 389,384 shares of company stock valued at $70,041,518. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $272.01 on Wednesday. Credo Technology Group Holding Ltd. has a 1 year low of $84.25 and a 1 year high of $308.67. The firm’s 50 day moving average price is $206.78 and its 200 day moving average price is $155.42. The firm has a market cap of $50.72 billion, a P/E ratio of 109.68, a price-to-earnings-growth ratio of 1.59 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last released 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. The firm had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. Credo Technology Group’s revenue for the quarter was up 157.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. As a group, equities analysts predict that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Stifel raised its price target on Credo Technology Group to $350 from $250 and maintained a buy rating, signaling confidence in the company’s AI connectivity growth story. Why Is Credo Technology Stock Soaring Monday?
• Positive Sentiment: Bank of America boosted its price target to $340 from $252 and kept a buy rating, implying additional upside if Credo’s AI-related demand stays strong. Benzinga
• Positive Sentiment: Evercore upgraded Credo to strong-buy with a $325 target, highlighting substantial upside in AI networking infrastructure and optical interconnect opportunities. The Fly
• Positive Sentiment: BNP Paribas and other commentary continued to frame Credo as a leveraged way to play AI data-center interconnect growth, with the company’s optical and active electrical cable products seen as key drivers. Benzinga
• Neutral Sentiment: Roth MKM reportedly reiterated its buy rating, adding to the broader bullish analyst backdrop. Roth MKM Sticks to Its Buy Rating for Credo Technology Group Holding Ltd (CRDO)
• Neutral Sentiment: The stock also made Zacks’ Rank #1 growth list, which supports the bullish narrative but is less directly impactful than the analyst price-target increases. Best Growth Stocks to Buy for June 23rd

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.