Renaissance Group LLC Sells 23,921 Shares of Credo Technology Group Holding Ltd. $CRDO

Renaissance Group LLC decreased its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 27.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 63,007 shares of the company’s stock after selling 23,921 shares during the period. Renaissance Group LLC’s holdings in Credo Technology Group were worth $9,066,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC lifted its holdings in Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $36,000. Smartleaf Asset Management LLC lifted its stake in shares of Credo Technology Group by 133.6% in the third quarter. Smartleaf Asset Management LLC now owns 257 shares of the company’s stock worth $38,000 after buying an additional 147 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Credo Technology Group by 642.5% in the third quarter. Quarry LP now owns 297 shares of the company’s stock worth $43,000 after buying an additional 257 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRDO has been the topic of a number of research analyst reports. Rothschild & Co Redburn assumed coverage on shares of Credo Technology Group in a research note on Friday, May 1st. They issued a “buy” rating and a $206.00 target price on the stock. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Weiss Ratings upgraded shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Mizuho raised their price target 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, Bank of America boosted their price objective on Credo Technology Group from $210.00 to $252.00 and gave the stock a “buy” rating in a research report 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 issued a Hold rating to the company. According to MarketBeat, Credo Technology Group presently has an average rating of “Moderate Buy” and an average price target of $248.41.

Insiders Place Their Bets

In related news, insider James Laufman sold 10,000 shares of Credo Technology Group stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total transaction of $1,644,100.00. Following the sale, the insider directly owned 198,609 shares of the company’s stock, valued at $32,653,305.69. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel W. Fleming sold 7,580 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $152.63, for a total value of $1,156,935.40. Following the transaction, the chief financial officer owned 433,678 shares in the company, valued at $66,192,273.14. This represents a 1.72% 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. Insiders have sold 348,284 shares of company stock valued at $51,616,969 in the last quarter. 11.84% of the stock is currently owned by insiders.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo’s AI connectivity strategy continues to draw investor attention, with coverage noting record fiscal 2026 revenue and a possible growth inflection ahead in fiscal 2027 as optical products scale. Can Credo Technology Maintain Revenue Growth Amid the AI Boom?
• Positive Sentiment: Analysts have been raising expectations, with commentary saying CRDO could keep moving higher as earnings estimates rise. Can Credo Technology Group (CRDO) Run Higher on Rising Earnings Estimates?
• Positive Sentiment: A recent upgrade argued that Credo’s high-speed data-center connectivity business remains well positioned to benefit from AI infrastructure spending. Credo Technology: The $3,000-Per-GPU Memory Arbitrage Demands A Strong Buy (Rating Upgrade)
• Neutral Sentiment: 24/7 Wall St. published a price forecast that was essentially flat versus the current share price, suggesting limited near-term upside or downside from that model. Credo Price Prediction and Forecast: This Is Where The Stock Goes From Here
• Neutral Sentiment: Shares also drew attention from unusual call-option buying, which points to bullish speculation but does not confirm a change in fundamentals.
• Negative Sentiment: CEO William Joseph Brennan and Director Sylvia Acevedo sold shares in recent transactions, which may weigh on sentiment even though insider sales are often routine.

Credo Technology Group Trading Up 1.4%

Shares of CRDO stock opened at $237.68 on Thursday. The firm has a market capitalization of $43.84 billion, a P/E ratio of 95.84, a price-to-earnings-growth ratio of 1.23 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 1 year low of $68.64 and a 1 year high of $261.38. The firm’s fifty day simple moving average is $177.95 and its 200 day simple moving average is $149.16.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results 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. The firm had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The business’s revenue was up 157.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. Equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

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.