Andra AP fonden Acquires 208,645 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Andra AP fonden boosted its stake in Credo Technology Group by 785.7% in the fourth quarter, adding 208,645 shares and bringing its total to 235,200 shares worth about $33.8 million.
• Credo continues to attract major institutional interest, with firms like Bank of America, JPMorgan, and Marshall Wace also increasing positions; institutional investors now own 80.46% of the stock.
• The company is seeing strong operating momentum, including a recent DustPhotonics acquisition, earnings that beat estimates, and a wave of analyst upgrades with price targets as high as $300.

Andra AP fonden grew its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 785.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 235,200 shares of the company's stock after acquiring an additional 208,645 shares during the period. Andra AP fonden owned 0.13% of Credo Technology Group worth $33,843,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CRDO. Bank of America Corp DE raised its position in Credo Technology Group by 161.5% in the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock worth $331,710,000 after acquiring an additional 1,406,752 shares during the period. Rafferty Asset Management LLC bought a new position in Credo Technology Group in the third quarter worth approximately $183,553,000. Alliancebernstein L.P. raised its position in Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock worth $283,778,000 after acquiring an additional 1,218,504 shares during the period. JPMorgan Chase & Co. raised its position in Credo Technology Group by 18.3% in the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company's stock worth $1,121,118,000 after acquiring an additional 1,190,522 shares during the period. Finally, Marshall Wace LLP raised its position in Credo Technology Group by 2,537.7% in the third quarter. Marshall Wace LLP now owns 1,150,000 shares of the company's stock worth $167,452,000 after acquiring an additional 1,106,401 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group News Summary

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?

Credo Technology Group Price Performance

Shares of CRDO opened at $264.76 on Friday. The firm has a market capitalization of $48.83 billion, a price-to-earnings ratio of 106.76, a PEG ratio of 1.25 and a beta of 3.22. The company has a 50-day moving average of $181.36 and a 200 day moving average of $150.09. Credo Technology Group Holding Ltd. has a 1-year low of $70.78 and a 1-year high of $268.18.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. The business had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The company's revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. On average, equities analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the firm's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $103.19, for a total transaction of $2,837,725.00. Following the transaction, the chief technology officer owned 6,162,370 shares of the company's stock, valued at approximately $635,894,960.30. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. This trade represents a 13.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 376,884 shares of company stock worth $59,014,018 in the last three months. Insiders own 11.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a "buy" rating and issued a $250.00 price objective on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Rothschild & Co Redburn began coverage on shares of Credo Technology Group in a report on Friday, May 1st. They issued a "buy" rating and a $206.00 target price for the company. Roth Mkm lifted their price objective on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. TD Cowen lifted their price objective on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Finally, Zacks Research upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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