Empowered Funds LLC Sells 12,869 Shares of Credo Technology Group Holding Ltd. $CRDO

Empowered Funds LLC cut its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 47.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,096 shares of the company’s stock after selling 12,869 shares during the period. Empowered Funds LLC’s holdings in Credo Technology Group were worth $3,833,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Reflection Asset Management acquired a new stake in shares of Credo Technology Group in the 4th quarter valued at approximately $25,000. Acumen Wealth Advisors LLC bought a new position in shares of Credo Technology Group in the fourth quarter valued at $25,000. AlphaCentric Advisors LLC bought a new position in shares of Credo Technology Group in the first quarter valued at $33,000. Van ECK Associates Corp acquired a new position in Credo Technology Group during the fourth quarter worth $37,000. Finally, Western Wealth Management LLC acquired a new position in Credo Technology Group during the first quarter worth $38,000. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group Trading Down 8.6%

NASDAQ CRDO opened at $206.63 on Wednesday. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67. The company has a 50 day moving average of $235.81 and a 200-day moving average of $188.53. The company has a market cap of $38.83 billion, a price-to-earnings ratio of 83.32, a PEG ratio of 1.02 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The business had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $473.30 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The firm’s revenue for the quarter was up 114.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 4.89 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO William Joseph Brennan sold 54,984 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the sale, the chief executive officer directly owned 367,327 shares in the company, valued at approximately $80,286,662.39. This represents a 13.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel W. Fleming sold 40,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value 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. This trade represents a 7.38% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 435,076 shares of company stock valued at $101,043,506 over the last 90 days. 9.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group increased their price target 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. The Goldman Sachs Group reiterated a “buy” rating and issued a $250.00 price objective on shares of Credo Technology Group in a report on Tuesday, June 2nd. Stifel Nicolaus increased their price objective on shares of Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. raised their target price on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC lifted their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $268.39.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo reported fiscal Q1 earnings of $1.20 per share, above the $1.17 consensus estimate, while revenue of $479 million exceeded expectations of $473.3 million. Revenue increased 114.7% year over year, and EPS more than doubled from $0.52 in the prior-year quarter. Credo Technology Group Q1 Earnings and Revenues Beat Estimates
• Positive Sentiment: Fiscal Q2 revenue guidance of $525 million to $535 million is above the $513.8 million analyst consensus, reinforcing expectations for continued demand from AI infrastructure and high-speed connectivity customers. Credo Technology Group Earnings Report
• Positive Sentiment: Credo joined the Open CPX MSA organization, supporting interoperable near-package and co-packaged optical interconnects for AI infrastructure. The initiative could broaden the company’s technology ecosystem over time. Credo Joins Open CPX MSA Organization
• Neutral Sentiment: Analysts’ consensus price target implies substantial potential upside, and recent earnings-estimate revisions have been favorable; however, price targets are not reliable indicators by themselves. Wall Street Analysts on Credo Technology
• Negative Sentiment: Investors appeared more concerned about margin pressure than the earnings beat, contributing to the stock’s decline in after-hours and subsequent trading. Credo Shares Fall as Margin Pressure Overshadows Earnings Beat
• Negative Sentiment: CRDO’s valuation leaves little room for disappointment: the stock has gained more than 12-fold over three years and trades at roughly 90 times earnings. Concerns about hyperscaler concentration, optical margins and whether AI growth is already priced in are amplifying volatility. Is Credo Technology Priced for Perfection?

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.