AI Squared Management Ltd Purchases New Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• AI Squared Management Ltd opened a new position in Credo Technology Group, buying 13,200 shares valued at about $1.9 million. The stake now represents roughly 2.2% of its portfolio.
• Credo reported a strong latest quarter, with EPS of $1.16 beating estimates and revenue of $437 million, up 157% year over year. Analysts currently expect continued earnings growth, and several firms have recently raised price targets.
• Despite the bullish outlook, insider selling has been notable, including recent share sales by directors Fariba Danesh and Sylvia Acevedo. Over the last 90 days, insiders sold 376,884 shares worth about $59 million.

AI Squared Management Ltd purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 13,200 shares of the company's stock, valued at approximately $1,899,000. Credo Technology Group accounts for approximately 2.2% of AI Squared Management Ltd's portfolio, making the stock its 16th largest position.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in Credo Technology Group by 16.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company's stock worth $80,000 after buying an additional 77 shares during the period. Illinois Municipal Retirement Fund raised its holdings in Credo Technology Group by 0.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company's stock worth $2,298,000 after buying an additional 91 shares during the period. Spirepoint Private Client LLC raised its holdings in Credo Technology Group by 6.6% during the 4th quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company's stock worth $243,000 after buying an additional 105 shares during the period. Crewe Advisors LLC raised its holdings in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after buying an additional 106 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Credo Technology Group by 14.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 861 shares of the company's stock worth $125,000 after buying an additional 111 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Fariba Danesh sold 1,100 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $236.34, for a total value of $259,974.00. Following the completion of the transaction, the director directly owned 7,017 shares of the company's stock, valued at approximately $1,658,397.78. This trade represents a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,208 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $211.00, for a total transaction of $465,888.00. Following the completion of the transaction, the director directly owned 16,337 shares of the company's stock, valued at $3,447,107. This represents a 11.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 376,884 shares of company stock valued at $59,014,018 over the last ninety days. Insiders own 11.84% of the company's stock.

Credo Technology Group Stock Up 11.4%

NASDAQ CRDO opened at $264.76 on Friday. Credo Technology Group Holding Ltd. has a 12-month low of $70.78 and a 12-month high of $268.18. The company has a market capitalization of $48.83 billion, a PE ratio of 106.76, a price-to-earnings-growth ratio of 1.25 and a beta of 3.22. The firm's 50 day moving average is $181.36 and its 200-day moving average is $150.09.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data 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 36.99%. The company had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same period last year, the company earned $0.20 earnings per share. The firm's revenue was up 157.0% compared to the same quarter last year. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS 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, adding silicon photonics capabilities and broadening its optical connectivity offering for next-generation AI and cloud networking demand. Credo Technology (CRDO) Completes Acquisition of DustPhotonics to Expand Optical Connectivity Portfolio
• Positive Sentiment: Multiple articles highlighted Credo as a top-ranked or bullish stock pick, citing strong catalysts and continued investor enthusiasm for AI-linked growth. 3 Top Ranked Stocks Investors Can Buy Right Now
• Positive Sentiment: Analysts have raised price targets after the latest earnings report, with commentary pointing to rising earnings estimates and momentum from record fiscal 2026 results. Can Credo Technology Group (CRDO) Run Higher on Rising Earnings Estimates?
• Neutral Sentiment: Insider sales by a director and the CTO may have added some caution, but the CTO’s sale was tied to tax withholding on vested equity awards and does not appear to signal a fundamental change.
• Neutral Sentiment: Some coverage noted that Credo still faces customer concentration risk, although management is working to diversify into more NeoCloud and broader customer relationships. Credo's Diversification Push: Can It Cut Customer Concentration Risk?

Analyst Upgrades and Downgrades

Several brokerages have commented on CRDO. TD Cowen raised their target price on shares of Credo Technology Group from $240.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Stifel Nicolaus set a $250.00 target price on shares of Credo Technology Group in a report on Wednesday, May 27th. Roth Mkm raised their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. The Goldman Sachs Group restated a "buy" rating and set a $250.00 target price on shares of Credo Technology Group in a report on Tuesday, June 2nd. Finally, Bank of America raised their target price on shares of Credo Technology Group from $210.00 to $252.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $248.41.

Credo Technology Group 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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