Stephens Investment Management Group LLC Acquires 78,015 Shares of Credo Technology Group Holding Ltd. $CRDO

Stephens Investment Management Group LLC grew its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 21.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 433,668 shares of the company’s stock after buying an additional 78,015 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.24% of Credo Technology Group worth $40,708,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Credo Technology Group by 9.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after purchasing an additional 23,332 shares in the last quarter. M&T Bank Corp raised its stake in Credo Technology Group by 428.8% in the fourth quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock worth $1,932,000 after buying an additional 10,888 shares in the last quarter. FengHe Fund Management Pte. Ltd. raised its stake in Credo Technology Group by 5.7% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock worth $23,349,000 after buying an additional 8,769 shares in the last quarter. Second Line Capital LLC purchased a new stake in Credo Technology Group in the third quarter worth about $4,283,000. Finally, Nordea Investment Management AB bought a new stake in Credo Technology Group during the 4th quarter valued at approximately $2,084,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Stock Performance

Shares of CRDO opened at $241.91 on Friday. The business’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. The company has a market cap of $45.11 billion, a price-to-earnings ratio of 97.54, a P/E/G ratio of 1.11 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 32.30% and a net margin of 35.37%.Credo Technology Group’s revenue was up 157.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Insider Activity

In other news, CFO Daniel W. Fleming sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the transaction, the chief financial officer directly 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $118.25, for a total transaction of $3,251,875.00. Following the transaction, the chief technology officer owned 6,134,870 shares in the company, valued at approximately $725,448,377.50. This trade represents a 0.45% 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 sold 390,872 shares of company stock valued at $79,763,850 over the last three months. Insiders own 11.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRDO shares. Rothschild & Co Redburn started coverage on Credo Technology Group in a research report on Friday, May 1st. They issued a “buy” rating and a $206.00 target price for the company. Roth Mkm upped their price target on Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Stifel Nicolaus raised their price objective on Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Bank of America raised their price objective on Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Two research 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. According to MarketBeat, Credo Technology Group presently has a consensus rating of “Buy” and an average price target of $263.11.

Key Credo Technology Group News

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 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.