Delta Global Management LP Buys New Stake in Credo Technology Group Holding Ltd. $CRDO

Delta Global Management LP bought a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 4th quarter, HoldingsChannel.com reports. The firm bought 15,365 shares of the company’s stock, valued at approximately $2,211,000.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Credo Technology Group by 9.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after purchasing an additional 23,332 shares during the period. FengHe Fund Management Pte. Ltd. lifted its stake in shares of Credo Technology Group by 5.7% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock valued at $23,349,000 after purchasing an additional 8,769 shares during the period. M&T Bank Corp lifted its stake in shares of Credo Technology Group by 428.8% in the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock valued at $1,932,000 after purchasing an additional 10,888 shares during the period. TD Asset Management Inc acquired a new position in shares of Credo Technology Group in the 3rd quarter valued at $17,454,000. Finally, Second Line Capital LLC acquired a new position in shares of Credo Technology Group in the 3rd quarter valued at $4,283,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Stock Up 3.4%

Shares of NASDAQ CRDO opened at $259.41 on Tuesday. The firm has a 50-day simple moving average of $187.62 and a 200-day simple moving average of $151.53. The stock has a market capitalization of $47.85 billion, a price-to-earnings ratio of 104.60, a price-to-earnings-growth ratio of 1.32 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 52 week low of $75.50 and a 52 week high of $270.21.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The business 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 36.99%. The company’s quarterly revenue was up 157.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 earnings per share. As a group, equities research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Insider Transactions at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $259.53, for a total value of $7,137,075.00. Following the completion of the sale, the chief technology officer owned 5,992,370 shares of the company’s stock, valued at approximately $1,555,199,786.10. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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. Also, CFO Daniel W. Fleming sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the sale, the chief financial officer directly owned 501,873 shares of the company’s stock, valued at $125,207,276.04. This represents a 7.38% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 389,384 shares of company stock valued at $66,025,968 in the last three months. 11.84% of the stock is currently owned by corporate insiders.

Key Credo Technology Group News

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

• Positive Sentiment: Credo remains a beneficiary of the AI data-center upgrade cycle, with analysts citing stronger demand for its connectivity products and growing optical-scale opportunities. Credo Technology Rides the AI Interconnect Upgrade Cycle
• Positive Sentiment: Recent commentary continued to frame CRDO as a momentum name after its strong earnings-driven rally, reinforcing bullish interest in the stock. Credo Technology Group Holding Ltd. (CRDO) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: CFO Daniel Fleming sold 40,000 shares under a 10b5-1 plan to cover tax obligations related to equity vesting, which is more administrative than a negative business signal. SEC Form 4 filing
• Negative Sentiment: Some reports warned that after a steep rally, CRDO’s valuation is becoming rich, leaving the shares vulnerable if growth, margins, or customer ramps disappoint. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Wall Street Analyst Weigh In

CRDO has been the subject of several analyst reports. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Rosenblatt Securities upped their price objective on shares of Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group restated a “buy” rating and set a $250.00 price objective on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Rothschild & Co Redburn started coverage on shares of Credo Technology Group in a research report on Friday, May 1st. They set a “buy” rating and a $206.00 price objective for the company. Finally, Craig Hallum restated a “buy” rating and set a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $248.41.

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.