Credo Technology Group Holding Ltd. $CRDO Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 25.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,769 shares of the company’s stock after selling 4,032 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Credo Technology Group were worth $1,105,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC increased its position in shares of Credo Technology Group by 117.1% during the 1st quarter. Sanctuary Advisors LLC now owns 61,155 shares of the company’s stock worth $5,741,000 after purchasing an additional 32,988 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in Credo Technology Group by 6.7% in the first quarter. Hillsdale Investment Management Inc. now owns 43,020 shares of the company’s stock valued at $4,038,000 after buying an additional 2,710 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Credo Technology Group by 2.0% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 301,337 shares of the company’s stock worth $28,287,000 after buying an additional 5,950 shares during the period. Emerald Advisers LLC boosted its stake in Credo Technology Group by 0.5% during the first quarter. Emerald Advisers LLC now owns 498,574 shares of the company’s stock worth $46,801,000 after buying an additional 2,435 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Credo Technology Group by 15.2% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,744 shares of the company’s stock valued at $539,000 after acquiring an additional 757 shares during the last quarter. 80.46% of the stock is currently 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: Several recent write-ups highlight Credo as a leading AI connectivity play, benefiting from hyperscalers’ need for higher-speed connections in data centers and positioning the company as a “backbone” supplier for AI infrastructure. Article Title
• Positive Sentiment: Articles citing fund commentary suggest Credo’s Q2 strength is being driven by rising connectivity demand, which is reinforcing the market’s view that the company can keep growing rapidly as AI spending expands. Article Title
• Positive Sentiment: Recent coverage also points to a bullish thesis upgrade and price-target discussion, implying that some investors see the recent pullback as a buying opportunity rather than a trend reversal. Article Title
• Neutral Sentiment: One comparison piece versus Marvell argues that Credo and Marvell both benefit from AI connectivity demand, but their growth, margin, and outlook profiles differ, which keeps investor debate focused on relative valuation and execution. Article Title
• Negative Sentiment: Some commentary warns that CRDO has been highly volatile, including a sharp weekly sell-off and concerns that the stock may have already priced in much of the AI optimism, which could limit near-term upside. Article Title

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $228.27 on Thursday. The firm has a market capitalization of $42.57 billion, a PE ratio of 92.04, a price-to-earnings-growth ratio of 1.02 and a beta of 3.20. The firm’s 50-day moving average is $233.42 and its two-hundred day moving average is $168.92. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.02 by $0.14. The business had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The business’s revenue for the quarter was up 157.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share. Analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, Director Sylvia Acevedo sold 2,208 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 11.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 3,790 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $258.71, for a total transaction of $980,510.90. Following the completion of the transaction, the chief technology officer owned 140,358 shares of the company’s stock, valued at approximately $36,312,018.18. This trade represents a 2.63% decrease in their position. 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 302,162 shares of company stock valued at $70,897,646 in the last quarter. Corporate insiders own 11.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Stifel Nicolaus increased their price objective on shares of Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. TD Cowen lifted their target price on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Mizuho boosted their target price on Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Buy” and a consensus target price of $266.17.

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.