Alta Park Capital LP Acquires New Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Alta Park Capital LP opened a new position in Credo Technology Group, buying 67,868 shares worth about $9.8 million in the fourth quarter.
• Institutional ownership remains heavy, with hedge funds and other institutions holding about 80.46% of the stock, while several major firms also increased their stakes.
• Credo posted strong quarterly results, with EPS of $1.16 beating estimates and revenue rising 157% year over year to $437 million, helping fuel bullish analyst sentiment and higher price targets.

Alta Park Capital LP acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 67,868 shares of the company's stock, valued at approximately $9,766,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position 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 valued at $2,386,449,000 after purchasing an additional 59,849 shares during the last quarter. State Street Corp raised its position in Credo Technology Group by 23.4% during the 4th quarter. State Street Corp now owns 4,486,320 shares of the company's stock worth $645,537,000 after buying an additional 849,654 shares during the last quarter. Geode Capital Management LLC raised its position in Credo Technology Group by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company's stock worth $555,117,000 after buying an additional 184,676 shares during the last quarter. Alliancebernstein L.P. raised its position in Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock worth $283,778,000 after buying an additional 1,218,504 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock worth $331,710,000 after buying an additional 1,406,752 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Credo Technology Group

In related news, Director Fariba Danesh sold 1,100 shares of Credo Technology Group 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 sale, the director 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group 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 $80,286,662.39. This represents a 13.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 389,384 shares of company stock worth $66,025,968 in the last ninety days. Company insiders own 11.84% of the company's stock.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $249.33 on Thursday. The stock has a market capitalization of $46.50 billion, a price-to-earnings ratio of 100.54, a PEG ratio of 1.26 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 12 month low of $80.60 and a 12 month high of $270.21. The firm's 50 day simple moving average is $193.31 and its 200-day simple moving average is $152.66.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released 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 analysts' expectations of $431.80 million. During the same quarter last year, the company earned $0.20 EPS. The firm's revenue for the quarter was up 157.0% compared to the same quarter last year. Analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s blockbuster FY26 results and strong guidance continue to fuel bullish sentiment, with investors focused on rapid revenue growth, earnings beats, and momentum in AI connectivity. Credo Technology Group Holding (CRDO) Is Up 21.2% After Earnings Beat And DustPhotonics Deal - What's Changed
• Positive Sentiment: Analysts and media coverage remain constructive, highlighting Credo’s exposure to AI infrastructure spending, optical networking growth, and improving margins, which supports the stock’s rally. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Positive Sentiment: Mizuho reiterated an Outperform rating and lifted its price target to $290, adding to the bullish analyst backdrop after the earnings report. Mizuho Reiterates Outperform on Credo Technology Group Holding Ltd (CRDO)
• Neutral Sentiment: CFO Daniel Fleming sold 40,000 shares under a pre-arranged 10b5-1 plan tied to tax withholding on vested equity awards, which is not usually viewed as a negative signal on fundamentals. SEC Form 4 filing
• Neutral Sentiment: Some recent commentary suggests the valuation is becoming stretched after a major run-up, so investors may be watching closely for continued execution in margins, customer ramps, and guidance. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Analyst Ratings Changes

A number of research firms have issued reports on CRDO. 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. Roth Mkm raised their price target on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Rothschild & Co Redburn began coverage on shares of Credo Technology Group in a research report on Friday, May 1st. They set a "buy" rating and a $206.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 2nd. Finally, Zacks Research raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group currently has an average rating of "Moderate Buy" and an average target price of $248.41.

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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