Allspring Global Investments Holdings LLC Acquires 341,356 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Allspring Global Investments significantly increased its stake in Credo Technology Group, buying 341,356 additional shares in Q1 and lifting its position by 155.3% to 561,176 shares worth about $53.8 million.
• Credo reported strong quarterly results, with EPS of $1.16 beating estimates and revenue of $437 million topping forecasts, while revenue jumped 157% year over year.
• Wall Street remains upbeat on CRDO, with multiple firms raising price targets and the stock carrying a consensus Buy rating and average target price of $263.11, even as insiders have recently sold shares under pre-arranged trading plans.

Allspring Global Investments Holdings LLC boosted its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 155.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 561,176 shares of the company's stock after buying an additional 341,356 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.30% of Credo Technology Group worth $53,828,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Crewe Advisors LLC raised its stake in shares of 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 acquiring an additional 106 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of Credo Technology Group in the 4th quarter worth $25,000. Acumen Wealth Advisors LLC purchased a new position in Credo Technology Group during the 4th quarter worth $25,000. Flagship Harbor Advisors LLC acquired a new position in Credo Technology Group during the 4th quarter valued at about $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Credo Technology Group during the 4th quarter valued at about $36,000. Institutional investors own 80.46% of the company's stock.

Credo Technology Group Stock Performance

Shares of CRDO opened at $202.68 on Friday. The business's 50-day moving average is $232.10 and its two-hundred day moving average is $167.13. The company 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. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67.

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

Credo Technology Group News Summary

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

Insiders Place Their Bets

In related news, CFO Daniel W. Fleming sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the sale, the chief financial officer directly owned 501,873 shares in the company, valued at approximately $125,207,276.04. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 completion of the transaction, the chief technology officer directly owned 5,909,870 shares of the company's stock, valued at approximately $1,594,719,320.80. This represents a 0.46% 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 90 days, insiders have sold 329,662 shares of company stock worth $76,068,196. 11.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRDO. Mizuho raised their price target on Credo Technology Group from $260.00 to $290.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Zacks Research upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. TD Cowen increased their price objective on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Bank of America lifted their target price on shares of Credo Technology Group from $252.00 to $340.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings raised shares of Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Credo Technology Group presently has an average rating of "Buy" and a consensus target price of $263.11.

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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