SG Americas Securities LLC Lowers Stock Holdings in Credo Technology Group Holding Ltd. $CRDO

SG Americas Securities LLC lowered its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 38.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 156,481 shares of the company’s stock after selling 96,374 shares during the period. SG Americas Securities LLC’s holdings in Credo Technology Group were worth $14,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in Credo Technology Group by 128.4% during the 1st quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after buying an additional 3,972 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after acquiring an additional 589,151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Credo Technology Group by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock worth $12,480,000 after acquiring an additional 7,107 shares during the last quarter. CW Advisors LLC bought a new position in shares of Credo Technology Group during the second quarter valued at $288,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Credo Technology Group by 198.2% during the second quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sylvia Acevedo sold 2,208 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $211.00, for a total transaction of $465,888.00. Following the transaction, the director directly owned 16,337 shares of the company’s stock, valued at $3,447,107. This represents a 11.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 367,327 shares in the company, valued at approximately $80,286,662.39. This trade represents a 13.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 416,884 shares of company stock worth $77,492,368 in the last 90 days. Insiders own 11.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Roth Mkm increased their price objective on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Stifel Nicolaus increased their price target on shares of Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC raised their price target on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Rothschild & Co Redburn began coverage on shares of Credo Technology Group in a report on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective for the company. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group has an average rating of “Buy” and an average price target of $263.11.

Credo Technology Group Stock Down 0.4%

Shares of NASDAQ CRDO opened at $268.03 on Friday. The firm’s 50-day moving average price is $211.63 and its 200-day moving average price is $156.69. Credo Technology Group Holding Ltd. has a 52-week low of $84.25 and a 52-week high of $308.67. The company has a market cap of $49.98 billion, a PE ratio of 108.08, a PEG ratio of 1.23 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. The firm had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The firm’s quarterly revenue was up 157.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Evercore ISI initiated coverage on Credo Technology Group with an Outperform rating and a $325 price target, arguing the company is well positioned to benefit from expanding optical AI connectivity demand in data centers.
• Positive Sentiment: Zacks added CRDO to its Rank #1 (Strong Buy) growth stocks list, reinforcing the view that the company’s earnings and revenue momentum remain strong.
• Positive Sentiment: Recent investor commentary highlighted Credo’s strong fundamentals, including its 1.6T connectivity ramp and rapid AI data-center growth, following quarterly revenue growth of 157% year over year.
• Neutral Sentiment: 24/7 Wall St. published a price prediction piece on Credo, saying the stock has already rallied sharply this year and may now be trading near fair value.
• Negative Sentiment: Chief Technology Officer Chi Fung Cheng sold 27,500 shares worth about $7.45 million under a pre-arranged trading plan, which can weigh on sentiment even though it was not an open-market discretionary sale.
• Negative Sentiment: Seeking Alpha published a bearish downgrade on CRDO, adding a note of caution after the stock’s strong run.

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.