Credo Technology Group Holding Ltd. $CRDO Shares Acquired by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC increased its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 4.9% during the third quarter, HoldingsChannel reports. The firm owned 418,991 shares of the company’s stock after acquiring an additional 19,685 shares during the period. Credo Technology Group accounts for approximately 1.9% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 19th biggest position. Zevenbergen Capital Investments LLC’s holdings in Credo Technology Group were worth $81,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of Credo Technology Group by 13.7% in the second quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock worth $593,603,000 after buying an additional 262,479 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Credo Technology Group by 239,024.5% during the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after acquiring an additional 3,597,318 shares during the period. Atreides Management LP raised its holdings in shares of Credo Technology Group by 3.5% during the second quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock valued at $307,109,000 after acquiring an additional 38,052 shares during the period. Barclays PLC lifted its position in shares of Credo Technology Group by 33.8% in the 4th quarter. Barclays PLC now owns 1,448,004 shares of the company’s stock valued at $208,353,000 after acquiring an additional 365,923 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Credo Technology Group by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 1,125,369 shares of the company’s stock valued at $161,929,000 after acquiring an additional 36,681 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CRDO shares. Stifel Nicolaus lowered their price objective on shares of Credo Technology Group from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Monday. Rosenblatt Securities raised their target price on Credo Technology Group from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Mizuho lowered their price target on Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, September 21st. Susquehanna upped their price target on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen downgraded Credo Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Credo Technology Group presently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

Insider Transactions at Credo Technology Group

In related news, CEO William Brennan sold 16,672 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $151.88, for a total transaction of $2,532,143.36. Following the transaction, the chief executive officer owned 1,600,830 shares of the company’s stock, valued at approximately $243,134,060.40. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Laufman sold 5,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $205.00, for a total transaction of $1,025,000.00. Following the completion of the sale, the insider owned 164,223 shares of the company’s stock, valued at $33,665,715. This trade represents a 2.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 428,376 shares of company stock worth $87,012,128. 9.06% of the stock is owned by corporate insiders.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo’s retimer business is gaining momentum, supported by strong AI infrastructure demand, record revenue and new product adoption. Retimers help maintain signal quality in high-speed data-center connections, positioning the portfolio as an important growth engine. CRDO’s Retimer Business Gains Steam: Can the Momentum Continue?
• Positive Sentiment: Credo joined the Open Co-Packaged Interface Multi-Source Agreement, a consortium focused on interoperable near-package and co-packaged optics. The move could expand Credo’s role in next-generation AI networking and create additional long-term growth opportunities. Credo Technology Joins the Co-Packaged Optics Race
• Positive Sentiment: An investor analysis argues that the market may be underestimating Credo’s optical-connectivity opportunity, framing the recent weakness as a potential buying opportunity. Credo: The Market Is Wrong About Optics
• Neutral Sentiment: Analysts remain broadly constructive, with a “Moderate Buy” consensus and an average price target of $262.67, although several firms recently reduced their targets. Credo’s prior quarter showed 114.7% year-over-year revenue growth and earnings above estimates.
• Negative Sentiment: CTO Chi Cheng sold 27,500 shares for approximately $6.1 million. The transaction was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding, and represented only 0.49% of his holdings, reducing its significance but still adding near-term selling pressure. Credo CTO Sells $6.1 Million in Stock
• Negative Sentiment: Credo trades at a high earnings multiple, leaving the stock sensitive to profit-taking or any concerns that AI-driven growth and its optics expansion may not justify current expectations.

Credo Technology Group Price Performance

CRDO traded down $8.15 during trading on Thursday, reaching $211.86. 9,541,467 shares of the stock traded hands, compared to its average volume of 7,543,982. The stock has a market cap of $39.82 billion, a price-to-earnings ratio of 75.40, a price-to-earnings-growth ratio of 0.88 and a beta of 3.25. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67. The stock’s 50-day simple moving average is $208.72 and its two-hundred day simple moving average is $200.98.

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

About Credo Technology Group

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.