Intech Investment Management LLC Grows Position in Credo Technology Group Holding Ltd. $CRDO

Intech Investment Management LLC increased its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 26.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,372 shares of the company’s stock after acquiring an additional 18,002 shares during the quarter. Intech Investment Management LLC’s holdings in Credo Technology Group were worth $12,428,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Credo Technology Group by 9.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock worth $39,004,000 after acquiring an additional 23,332 shares during the period. Optimize Financial Inc purchased a new stake in Credo Technology Group in the third quarter worth about $1,431,000. M&T Bank Corp lifted its stake in Credo Technology Group by 428.8% in the fourth quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock worth $1,932,000 after acquiring an additional 10,888 shares during the period. FengHe Fund Management Pte. Ltd. lifted its stake in Credo Technology Group by 5.7% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock worth $23,349,000 after acquiring an additional 8,769 shares during the period. Finally, New York State Common Retirement Fund lifted its position in shares of Credo Technology Group by 106.5% during the third quarter. New York State Common Retirement Fund now owns 146,134 shares of the company’s stock valued at $21,279,000 after buying an additional 75,369 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William Joseph Brennan sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at $209,764,835.36. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the transaction, the chief technology officer owned 6,272,370 shares in the company, valued at approximately $737,630,712. This trade represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 386,608 shares of company stock worth $50,371,351. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Performance

CRDO stock opened at $236.03 on Friday. Credo Technology Group Holding Ltd. has a one year low of $59.21 and a one year high of $240.81. The firm has a market cap of $43.54 billion, a price-to-earnings ratio of 131.13 and a beta of 3.17. The firm has a 50-day simple moving average of $158.17 and a two-hundred day simple moving average of $144.98.

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

Wall Street Analysts Forecast Growth

CRDO has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Credo Technology Group in a research report on Wednesday, April 15th. Susquehanna decreased their price target on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research report on Tuesday, March 3rd. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Craig Hallum reissued a “buy” rating and set a $200.00 price target on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Credo Technology Group in a research report on Monday, April 13th. They set a “buy” rating and a $175.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $210.65.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

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.