Credo Technology Group Holding Ltd. $CRDO Stock Purchased by GoalVest Advisory LLC

GoalVest Advisory LLC increased its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 49,226.5% in the third quarter, Holdings Channel reports. The firm owned 24,170 shares of the company’s stock after buying an additional 24,121 shares during the quarter. GoalVest Advisory LLC’s holdings in Credo Technology Group were worth $4,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Burkett Financial Services LLC purchased a new position in shares of Credo Technology Group during the third quarter worth about $33,000. QRG Capital Management Inc. lifted its position in Credo Technology Group by 20.8% during the 2nd quarter. QRG Capital Management Inc. now owns 6,527 shares of the company’s stock worth $1,774,000 after acquiring an additional 1,125 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Credo Technology Group in the 2nd quarter valued at approximately $548,000. Envestnet Asset Management Inc. increased its holdings in shares of Credo Technology Group by 14.6% in the second quarter. Envestnet Asset Management Inc. now owns 174,376 shares of the company’s stock valued at $47,421,000 after purchasing an additional 22,181 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Credo Technology Group by 19.0% during the second quarter. Sequoia Financial Advisors LLC now owns 6,659 shares of the company’s stock worth $1,811,000 after purchasing an additional 1,063 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRDO has been the topic of several recent research reports. Mizuho dropped their price objective on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, September 21st. Bank of America cut their price target on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, September 2nd. Rosenblatt Securities lifted their price objective on Credo Technology Group from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Zacks Research cut Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.89.

Credo Technology Group Stock Performance

Credo Technology Group stock traded up $11.21 during trading on Friday, hitting $221.38. The company’s stock had a trading volume of 6,507,258 shares, compared to its average volume of 7,511,521. The stock has a market capitalization of $41.61 billion, a price-to-earnings ratio of 78.70, a P/E/G ratio of 0.78 and a beta of 3.25. The stock’s fifty day moving average is $207.10 and its 200 day moving average is $197.87. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The company had revenue of $479.00 million for the quarter, compared to the consensus estimate of $473.30 million. During the same quarter last year, the firm posted $0.52 earnings per share. Credo Technology Group’s revenue was up 114.7% on a year-over-year basis. On average, research analysts anticipate that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo’s high-speed connectivity products are positioned to benefit as AI infrastructure spending expands beyond processors into the networking and optical components needed to connect large data-center clusters. Recent coverage describes the company as a potential beneficiary of this next phase of AI investment. AI Spending Is Entering Its Next Phase
• Positive Sentiment: The bullish case is supported by Credo’s latest results: quarterly revenue rose 114.7% year over year to $479 million, while earnings of $1.20 per share exceeded the $1.17 consensus estimate. Momentum-focused coverage also notes that the stock has gained since the earnings report. Credo Momentum Stock Analysis
• Positive Sentiment: Sell-side analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $264.89. Recent analyst targets range as high as $292, suggesting potential upside if Credo sustains its growth. Credo Moderate Buy Rating
• Neutral Sentiment: CTO Chi Cheng sold 27,500 shares for approximately $5.3 million under a pre-arranged Rule 10b5-1 plan. The sale reduced his ownership by only 0.48%, and he continued to hold more than 5.6 million shares, limiting its immediate bearish significance. SEC Insider Sale Filing
• Negative Sentiment: Additional insider selling may weigh on sentiment: the COO reportedly sold 100,000 shares, while CEO sales totaled approximately $2.5 million. Although these transactions may be planned disposals rather than signals about business conditions, they add supply and investor caution after the stock’s strong advance. Credo COO Planned Sale
• Negative Sentiment: CRDO trades at a high earnings multiple and has substantial volatility, making the shares vulnerable to a pullback if AI-related spending slows, growth estimates are reduced, or investors rotate away from high-growth technology stocks. Arm Versus Credo Technology

Insider Buying and Selling at Credo Technology Group

In related news, COO Yat Lam sold 55,441 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $213.02, for a total transaction of $11,810,041.82. Following the transaction, the chief operating officer directly owned 2,529,169 shares of the company’s stock, valued at approximately $538,763,580.38. The trade was a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $205.54, for a total transaction of $5,652,350.00. Following the completion of the sale, the chief technology officer directly owned 5,799,870 shares of the company’s stock, valued at $1,192,105,279.80. This trade represents a 0.47% decrease in their position. 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. Insiders have sold a total of 384,746 shares of company stock worth $79,163,859 in the last 90 days. Company insiders own 9.06% of the company’s stock.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.