Robbins Farley Boosts Holdings in Credo Technology Group Holding Ltd. $CRDO

Robbins Farley boosted its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 105.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 12,677 shares of the company’s stock after purchasing an additional 6,521 shares during the period. Robbins Farley’s holdings in Credo Technology Group were worth $1,190,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRDO. Crewe Advisors LLC grew its position 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 valued at $25,000 after acquiring an additional 106 shares during the period. Reflection Asset Management purchased a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $25,000. Acumen Wealth Advisors LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth approximately $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth approximately $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth approximately $36,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Key Credo Technology Group News

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

• Positive Sentiment: Evercore ISI initiated coverage with an Outperform rating and a $325 price target, calling Wall Street too conservative on Credo’s long-term opportunity as it expands beyond copper into AI networking infrastructure. Evercore Says Wall Street Is 40% Too Low on Credo
• Positive Sentiment: Stifel also raised its price target on CRDO to $350 and reiterated a Buy rating, adding to the bullish analyst momentum. Why Is Credo Technology Stock Soaring Monday?
• Positive Sentiment: Investors are also responding to Credo’s strong recent operating results, including sharply higher revenue, solid profitability, and management’s upbeat outlook tied to AI data-center demand and optical growth. Credo Stock Spikes To Record High On Bullish Reports
• Neutral Sentiment: The stock has been setting record highs as traders continue to price in Credo’s expansion into high-speed interconnect products, including optical solutions that could broaden its AI infrastructure market opportunity.

Analysts Set New Price Targets

A number of research firms have issued reports on CRDO. Weiss Ratings raised Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Roth Mkm increased 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. Craig Hallum reiterated a “buy” rating and set a $200.00 price target on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Stifel Nicolaus lifted their price objective on Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Monday. Finally, Jefferies Financial Group boosted their price objective on Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus price target of $258.22.

Insider Activity at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 40,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the sale, the chief financial officer directly owned 501,873 shares in the company, valued at approximately $125,207,276.04. The trade was a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, CEO William Joseph Brennan sold 54,984 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $218.57, for a total value of $12,017,852.88. Following the sale, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. This trade represents a 13.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 389,384 shares of company stock worth $70,041,518 in the last 90 days. 11.84% of the stock is owned by company insiders.

Credo Technology Group Trading Up 11.3%

Credo Technology Group stock opened at $302.52 on Tuesday. The firm has a 50 day simple moving average of $203.74 and a 200 day simple moving average of $154.84. Credo Technology Group Holding Ltd. has a 1-year low of $81.72 and a 1-year high of $308.67. The firm has a market capitalization of $56.41 billion, a price-to-earnings ratio of 121.98, a P/E/G ratio of 1.43 and a beta of 3.22.

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

Credo Technology Group Company 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.