329,838 Credo Technology Group Holding Ltd. $CRDO Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management cut its Credo Technology stake by 72%, selling 329,838 shares in the third quarter and retaining 128,537 shares worth approximately $25.0 million. Institutional investors collectively own 80.46% of CRDO.
• Credo reported strong quarterly growth, with revenue rising 114.7% year over year to $479 million and EPS of $1.20, both exceeding analyst expectations. The company’s AI data-center connectivity products continue to support its growth outlook.
• Analysts maintain a consensus “Moderate Buy” rating with a $262.67 price target, although CRDO’s premium valuation—about 78.6 times earnings—and recent insider selling may contribute to volatility.

Congress Asset Management Co. reduced its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 72.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,537 shares of the company's stock after selling 329,838 shares during the quarter. Congress Asset Management Co. owned about 0.07% of Credo Technology Group worth $25,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Polaris Financial Partners bought a new stake in Credo Technology Group in the third quarter worth $681,000. GoalVest Advisory LLC lifted its position in Credo Technology Group by 49,226.5% during the third quarter. GoalVest Advisory LLC now owns 24,170 shares of the company's stock valued at $4,708,000 after purchasing an additional 24,121 shares during the last quarter. Burkett Financial Services LLC purchased a new position in shares of Credo Technology Group in the 3rd quarter worth $33,000. QRG Capital Management Inc. grew its stake in shares of Credo Technology Group by 20.8% in the 2nd quarter. QRG Capital Management Inc. now owns 6,527 shares of the company's stock worth $1,774,000 after buying an additional 1,125 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Credo Technology Group in the 2nd quarter worth about $548,000. 80.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CRDO has been the topic of several recent research reports. Bank of America decreased their target price on shares of Credo Technology Group from $340.00 to $275.00 and set a "buy" rating on the stock in a research report on Wednesday, September 2nd. Rosenblatt Securities boosted their price objective on Credo Technology Group from $215.00 to $235.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 2nd. Wall Street Zen downgraded Credo Technology Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Barclays boosted their target price on Credo Technology Group from $260.00 to $300.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Finally, Zacks Research lowered Credo Technology Group from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $262.67.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s active electrical cables connect GPUs and switches in AI data centers, positioning the company to benefit from continued hyperscaler infrastructure spending. Analysts and commentators also highlight the company’s expanding optical-connectivity portfolio and potential shift from copper to optical products. One Semiconductor Stock With a Potential 200% Upside The Transformation From Copper To Optical Is A Major Opportunity Still Under-Appreciated
• Positive Sentiment: The company’s latest quarterly results remain a major growth driver: revenue rose 114.7% year over year to $479 million, exceeding the $473.3 million consensus estimate, while earnings per share also topped expectations. The results marked Credo’s seventh consecutive quarter of triple-digit revenue growth. Credo Grew Revenue 114.70%
• Positive Sentiment: Stifel Nicolaus maintained a “buy” rating and set a $310 price target, implying meaningful upside from recent levels. The firm lowered its target from $350, but the revised view still reflects confidence in Credo’s long-term AI connectivity opportunity. Credo Given New $310 Price Target at Stifel Nicolaus
• Neutral Sentiment: Investor sentiment is mixed because CRDO trades at a premium valuation, with a reported price-to-earnings ratio near 79. Strong margins and AI demand support the premium, but execution risks and high expectations could increase volatility. Credo Stock at a Premium Valuation
• Negative Sentiment: Insider James Laufman sold 5,000 shares for approximately $1.03 million, reducing his direct position by 2.95%. He still retains a substantial stake, but the sale contributed to near-term selling pressure and investor caution. James Laufman Insider Transactions

Credo Technology Group Stock Up 3.9%

CRDO opened at $220.83 on Wednesday. The business has a fifty day moving average of $207.87 and a 200 day moving average of $200.19. The stock has a market cap of $41.51 billion, a P/E ratio of 78.59, a PEG ratio of 0.85 and a beta of 3.25. 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 released its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.03. The business had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The business's revenue was up 114.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Credo Technology Group news, CTO Chi Cheng sold 27,500 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $193.12, for a total transaction of $5,310,800.00. Following the transaction, the chief technology officer directly owned 5,689,897 shares in the company, valued at $1,098,832,908.64. This represents a 0.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 55,441 shares of Credo Technology Group stock in a transaction on Friday, July 31st. The shares were sold at an average price of $213.02, for a total value of $11,810,041.82. Following the completion of the transaction, the chief operating officer owned 2,529,169 shares in the company, valued at $538,763,580.38. This represents a 2.15% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 400,876 shares of company stock worth $80,921,428. Corporate insiders own 9.06% of the company's stock.

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.

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