23,571 Shares in Credo Technology Group Holding Ltd. $CRDO Purchased by Independent Financial Group LLC

Key Points

• Independent Financial Group LLC initiated a new position in Credo Technology Group, buying 23,571 shares valued at about $2.21 million in the first quarter.
• Institutional ownership remains very high, with several large investors adding to CRDO and 80.46% of the stock now held by hedge funds and other institutions.
• Credo continues to post strong operating results and Wall Street support, including Q1 EPS of $1.16 versus $1.02 expected and multiple analysts raising price targets, with a consensus rating of Buy.

Independent Financial Group LLC bought a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,571 shares of the company's stock, valued at approximately $2,213,000.

Several other large investors have also recently made changes to their positions in CRDO. Vanguard Group Inc. grew its stake in shares of Credo Technology Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company's stock worth $2,386,449,000 after buying an additional 59,849 shares during the last quarter. State Street Corp raised its stake in Credo Technology Group by 23.4% during the fourth quarter. State Street Corp now owns 4,486,320 shares of the company's stock valued at $645,537,000 after buying an additional 849,654 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Credo Technology Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company's stock worth $555,117,000 after acquiring an additional 184,676 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Credo Technology Group by 239,024.5% in the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company's stock worth $517,835,000 after acquiring an additional 3,597,318 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock worth $283,778,000 after acquiring an additional 1,218,504 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

More Credo Technology Group News

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

• Positive Sentiment: Credo’s free cash flow surged to $177.5 million, which strengthens its balance sheet and gives the company more flexibility to fund innovation, pursue acquisitions, and expand its AI-driven connectivity business. That kind of cash generation is typically viewed favorably by investors. Credo's Free Cash Flow Soars: Can the Momentum Continue?
• Positive Sentiment: The company also drew a mention from an investment manager’s Q2 2026 letter, which can reinforce the view that institutional investors see Credo as a strong growth name in the small-cap tech space. Here’s Why Credo Technology Group Holding Ltd (CRDO) is on the Detector List of the Fund
• Neutral Sentiment: Several articles focused on insider selling, including a planned sale by a Credo executive and other executives, but the transactions were made under pre-arranged Rule 10b5-1 plans and do not necessarily signal a negative change in fundamentals. Still, investors may view the sales cautiously after the stock’s sharp move higher. A Credo Executive Sold Nearly $24 Million in Stock Across Two Sales in One Day
• Neutral Sentiment: Another note highlighted that the company remains a market favorite after a major rally, with the discussion centered more on valuation and recent price gains than on a new business catalyst. What This Billionaire Co-Founder's Credo Sale Signals With Shares Up 139%
• Neutral Sentiment: A separate market commentary piece mentioned Credo among potential buy-the-dip opportunities in a volatile AI-capex environment, but it was broader market analysis rather than company-specific news. Steven Cress' Top 2 Stocks H2 2026

Wall Street Analysts Forecast Growth

CRDO has been the subject of several analyst reports. Susquehanna raised their price target on Credo Technology Group from $200.00 to $235.00 and gave the company a "positive" rating in a report on Tuesday, June 2nd. Roth Capital increased their price objective on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" 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 note on Tuesday, June 2nd. Rothschild & Co Redburn assumed coverage on shares of Credo Technology Group in a report on Friday, May 1st. They issued a "buy" rating and a $206.00 target price for the company. Finally, Needham & Company LLC upped their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $263.11.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 54,984 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the sale, the chief executive officer directly owned 367,327 shares in the company, valued at approximately $80,286,662.39. The trade was a 13.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $269.84, for a total value of $7,420,600.00. Following the transaction, the chief technology officer directly owned 5,909,870 shares in the company, valued at $1,594,719,320.80. The trade was a 0.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 329,662 shares of company stock worth $76,068,196 over the last quarter. Company insiders own 11.84% of the company's stock.

Credo Technology Group Stock Performance

CRDO opened at $202.68 on Friday. The stock has a market capitalization of $37.80 billion, a P/E ratio of 81.73, a P/E/G ratio of 0.93 and a beta of 3.20. The company's 50-day simple moving average is $232.10 and its two-hundred day simple moving average is $167.13. Credo Technology Group Holding Ltd. has a 52-week low of $86.49 and a 52-week high of $308.67.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The firm had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same quarter last year, the firm posted $0.20 EPS. The business's quarterly revenue was up 157.0% compared to the same quarter last year. Research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

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.

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