Sierra Summit Advisors LLC Boosts Stock Position in Credo Technology Group Holding Ltd. $CRDO

Sierra Summit Advisors LLC boosted its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 160.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,103 shares of the company’s stock after acquiring an additional 4,990 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Credo Technology Group were worth $761,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CRDO. Northwestern Mutual Wealth Management Co. increased its stake in Credo Technology Group by 16.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock worth $80,000 after purchasing an additional 77 shares during the period. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Credo Technology Group by 2.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company’s stock valued at $741,000 after purchasing an additional 100 shares during the period. Spirepoint Private Client LLC grew its stake in Credo Technology Group by 6.6% in the fourth quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company’s stock worth $243,000 after purchasing an additional 105 shares in the last quarter. Crewe Advisors LLC increased its holdings in 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 purchasing an additional 106 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in Credo Technology Group by 14.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 861 shares of the company’s stock worth $125,000 after purchasing an additional 111 shares during the period. Institutional investors own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $269.84, for a total value of $7,420,600.00. Following the transaction, the chief technology officer owned 5,909,870 shares in the company, valued at $1,594,719,320.80. The trade was a 0.46% decrease in their ownership of the stock. The transaction 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. Also, Director Fariba Danesh sold 1,100 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $236.34, for a total transaction of $259,974.00. Following the completion of the transaction, the director owned 7,017 shares of the company’s stock, valued at $1,658,397.78. This represents a 13.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 405,095 shares of company stock valued at $81,206,774 over the last 90 days. Company insiders own 11.84% of the company’s stock.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo’s Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $241.91 on Friday. The stock has a market capitalization of $45.11 billion, a PE ratio of 97.54, a price-to-earnings-growth ratio of 1.11 and a beta of 3.20. The stock’s fifty day simple moving average is $220.92 and its two-hundred day simple moving average is $160.44. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67.

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

Analyst Upgrades and Downgrades

CRDO has been the subject of a number of research analyst reports. Evercore assumed coverage on Credo Technology Group in a research report on Monday, June 22nd. They set an “outperform” rating and a $325.00 target price for the company. Stifel Nicolaus increased their price target on Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Susquehanna raised their price target 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. Jefferies Financial Group lifted their price objective on Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Two equities research analysts have 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.com, Credo Technology Group currently has an average rating of “Buy” and an average price target of $263.11.

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.