Csenge Advisory Group Makes New $554,000 Investment in Credo Technology Group Holding Ltd. $CRDO

Csenge Advisory Group bought a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 4th quarter, HoldingsChannel reports. The fund bought 3,848 shares of the company’s stock, valued at approximately $554,000.

A number of other hedge funds have also made changes to their positions in CRDO. Bank of America Corp DE increased its stake in shares of Credo Technology Group by 161.5% during the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after acquiring an additional 1,406,752 shares during the period. Rafferty Asset Management LLC acquired a new position in shares of Credo Technology Group during the third quarter valued at approximately $183,553,000. Alliancebernstein L.P. increased its stake in shares of Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after acquiring an additional 1,218,504 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Credo Technology Group by 18.3% during the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock valued at $1,121,118,000 after acquiring an additional 1,190,522 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Credo Technology Group by 2,537.7% during the third quarter. Marshall Wace LLP now owns 1,150,000 shares of the company’s stock valued at $167,452,000 after acquiring an additional 1,106,401 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $193.39 on Friday. The company has a market cap of $35.67 billion, a PE ratio of 107.44 and a beta of 3.17. Credo Technology Group Holding Ltd. has a 52 week low of $59.00 and a 52 week high of $213.80. The firm has a 50 day simple moving average of $144.76 and a 200 day simple moving average of $142.53.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. The business had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The firm’s quarterly revenue was up 201.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, equities analysts predict that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Credo Technology Group in a report on Monday, April 13th. They set a “buy” rating and a $175.00 target price for the company. Stifel Nicolaus set a $200.00 target price on shares of Credo Technology Group in a report on Tuesday, March 3rd. Susquehanna reduced their target price on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a report on Tuesday, March 3rd. Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 target price for the company. Finally, Weiss Ratings cut shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $207.71.

Insider Activity

In related news, CEO William Joseph Brennan sold 6,149 shares of the company’s stock in a transaction that occurred on Sunday, April 5th. The shares were sold at an average price of $101.45, for a total value of $623,816.05. Following the completion of the sale, the chief executive officer owned 222,311 shares in the company, valued at approximately $22,553,450.95. This represents a 2.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Laufman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $164.41, for a total transaction of $1,644,100.00. Following the completion of the sale, the insider owned 198,609 shares of the company’s stock, valued at approximately $32,653,305.69. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 386,608 shares of company stock worth $50,371,351 in the last quarter. Insiders own 11.84% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo surged after announcing a partnership with Rebellions to integrate its ZeroFlap cables into RebelPOD, a move aimed at improving efficiency in enterprise AI factories and supporting scalable inference deployments. Article Title
• Positive Sentiment: Zacks Research upgraded Credo from “hold” to “strong-buy,” adding to the bullish sentiment around the name. Article Title
• Positive Sentiment: Several new write-ups highlighted Credo as an attractive AI connectivity stock and one of the semiconductor names with the highest upside potential, with analysts pointing to growth from AEC adoption, new product families, and the company’s $750 million DustPhotonics deal. Article Title
• Positive Sentiment: Broader coverage also framed Credo as a leading beneficiary of the AI boom, which is helping keep momentum strong in the stock. Article Title
• Neutral Sentiment: Credo also announced upcoming investor conference presentations, which can help maintain visibility but does not by itself change the business outlook. Article Title
• Negative Sentiment: Some market commentary warned that the stock’s sharp reversal could be a caution sign, though that view is outweighed today by the stronger bullish AI and analyst-driven narrative. Article Title

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.