Andra AP fonden Reduces Stock Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Andra AP fonden cut its CRDO stake by 29.4% in the first quarter, selling 69,117 shares and leaving it with 166,083 shares worth about $15.6 million.
• Credo Technology posted strong quarterly results, with EPS of $1.16 versus the $1.02 consensus and revenue of $437 million, up 157% year over year.
• Despite recent insider sales and some valuation caution, analysts remain largely bullish on CRDO, with an average rating of Buy and an average price target of $266.17.

Andra AP fonden lessened its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 29.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,083 shares of the company's stock after selling 69,117 shares during the period. Andra AP fonden owned approximately 0.09% of Credo Technology Group worth $15,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRDO. Crewe Advisors LLC raised its position in Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. Reflection Asset Management purchased a new stake in Credo Technology Group in the 4th quarter worth approximately $25,000. Acumen Wealth Advisors LLC purchased a new stake in Credo Technology Group in the 4th quarter worth approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $36,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Stock Performance

Shares of CRDO opened at $223.87 on Wednesday. The stock has a 50 day moving average price of $232.65 and a 200 day moving average price of $168.33. The stock has a market capitalization of $41.75 billion, a price-to-earnings ratio of 90.27, a PEG ratio of 0.97 and a beta of 3.20. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $437.00 million during the quarter, compared to analysts' expectations of $431.80 million. During the same quarter in the prior year, the company earned $0.20 EPS. Credo Technology Group's revenue was up 157.0% compared to the same quarter last year. On average, analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRDO has been the subject of several analyst reports. Barclays boosted their target price on shares of Credo Technology Group from $260.00 to $300.00 and gave the company an "overweight" rating in a research note on Monday. Needham & Company LLC raised their price target on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a research report on Monday, June 1st. Susquehanna upped their price objective on shares of Credo Technology Group from $235.00 to $250.00 and gave the stock a "positive" rating in a research report on Tuesday. Evercore initiated coverage on shares of Credo Technology Group in a research note on Monday, June 22nd. They set an "outperform" rating and a $325.00 target price on the stock. Finally, Bank of America raised their target price on Credo Technology Group from $252.00 to $340.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Credo Technology Group presently has an average rating of "Buy" and an average target price of $266.17.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Analysts and market commentators continue to highlight Credo’s exposure to AI infrastructure, especially its active electrical cables and SerDes retimers used to connect GPU racks in hyperscale data centers. Price Prediction: Credo Stock Will Trade at This Price in 2027
• Positive Sentiment: Investor letters and commentary point to Credo benefiting from increasing connectivity demand, reinforcing the idea that the company is well positioned in AI networking and optical infrastructure. Credo Technology Gains from Increasing Connectivity Challenge
• Positive Sentiment: Several recent articles frame CRDO as a semiconductor supply-chain stock worth buying on the dip, citing demand for AI chip testing, packaging, and high-speed connectivity as potential support for a recovery. 4 AI Semiconductor Supply-Chain Stocks to Buy on the Recent Dip
• Neutral Sentiment: One recent write-up noted the stock’s sharp short-term pullback, but also argued that the sell-off may be an opportunity if Credo can sustain its revenue growth and AI networking momentum. Price Prediction: Credo Stock Will Trade at This Price in 2027
• Negative Sentiment: Broader semiconductor coverage suggests that strong AI-related gains across the sector may leave limited upside near term, which could temper enthusiasm if valuation remains rich. Barclays upgrades Lumentum, cuts Allegro, Penguin before chip earnings

Insider Activity

In other news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $243.06, for a total value of $6,684,150.00. Following the completion of the sale, the chief technology officer owned 5,882,370 shares of the company's stock, valued at $1,429,768,852.20. This represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the transaction, the chief financial officer owned 501,873 shares in the company, valued at $125,207,276.04. This represents a 7.38% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 302,162 shares of company stock valued at $70,897,646. 11.84% of the stock is currently owned by insiders.

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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