4,364 Shares in Credo Technology Group Holding Ltd. $CRDO Purchased by Cornerstone Select Advisors LLC

Key Points

• Cornerstone Select Advisors opened a new position in Credo Technology Group, buying 4,364 shares valued at about $628,000 in the fourth quarter.
• Institutional interest in CRDO remains strong: hedge funds and other institutional investors own 80.46% of the stock, even as some insiders have recently sold shares.
• Analysts are still broadly upbeat, with the stock carrying an average “Buy” rating and an average price target of $210.65; Credo also beat last quarter’s earnings and revenue expectations.

Cornerstone Select Advisors LLC acquired a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,364 shares of the company's stock, valued at approximately $628,000.

A number of other large investors have also added to or reduced their stakes in CRDO. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 23,332 shares in the last quarter. Optimize Financial Inc purchased a new position in shares of Credo Technology Group in the third quarter worth about $1,431,000. M&T Bank Corp increased its stake in shares of 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 purchasing an additional 10,888 shares in the last quarter. FengHe Fund Management Pte. Ltd. increased its stake in shares of 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 purchasing an additional 8,769 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Credo Technology Group by 106.5% in the third quarter. New York State Common Retirement Fund now owns 146,134 shares of the company's stock worth $21,279,000 after purchasing an additional 75,369 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insider Activity

In related news, CFO Daniel W. Fleming sold 7,580 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $152.63, for a total transaction of $1,156,935.40. Following the sale, the chief financial officer owned 433,678 shares of the company's stock, valued at approximately $66,192,273.14. This represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Laufman sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total transaction of $1,644,100.00. Following the sale, the insider directly owned 198,609 shares in the company, valued at $32,653,305.69. This trade represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 386,608 shares of company stock worth $50,371,351. Insiders own 11.84% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRDO. 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. Stifel Nicolaus set a $250.00 target price on shares of Credo Technology Group in a research note on Wednesday. Roth Mkm reduced their target price on shares of Credo Technology Group from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. Craig Hallum reiterated a "buy" rating and issued a $200.00 target price on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Finally, 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 research note on Tuesday, March 3rd. 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, the stock presently has an average rating of "Buy" and an average target price of $210.65.

Credo Technology Group Trading Up 6.2%

Credo Technology Group stock opened at $236.03 on Friday. The firm's 50 day simple moving average is $158.17 and its 200 day simple moving average is $144.98. The firm has a market capitalization of $43.54 billion, a PE ratio of 131.13 and a beta of 3.17. Credo Technology Group Holding Ltd. has a 1-year low of $59.21 and a 1-year high of $240.81.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.29. The business had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. Credo Technology Group's revenue was up 201.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. Research analysts forecast that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

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?

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.

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