Andra AP fonden Sells 134,700 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Andra AP fonden cut its Credo Technology position by 81.1%, selling 134,700 shares and retaining 31,383 shares valued at approximately $8.5 million. Institutional investors and hedge funds collectively own 80.46% of CRDO.
• Credo reported quarterly revenue of $479 million, up 114.7% year over year, and EPS of $1.20, exceeding analyst expectations. The stock opened at $192.56, with a market capitalization of about $36.2 billion.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $264.89, although some firms downgraded the stock to “Hold.” Company insiders have also sold shares recently, including transactions by the CTO and CFO under pre-arranged trading plans.

Andra AP fonden cut its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 81.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,383 shares of the company's stock after selling 134,700 shares during the quarter. Andra AP fonden's holdings in Credo Technology Group were worth $8,535,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CRDO. Reflection Asset Management bought a new stake in Credo Technology Group in the fourth quarter valued at approximately $25,000. Orion Capital Management LLC purchased a new position in shares of Credo Technology Group during the second quarter valued at approximately $27,000. AlphaCentric Advisors LLC purchased a new position in Credo Technology Group during the 1st quarter worth $33,000. Western Wealth Management LLC bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $38,000. Finally, MCF Advisors LLC boosted its position in Credo Technology Group by 309.9% in the fourth quarter. MCF Advisors LLC now owns 373 shares of the company's stock worth $54,000 after purchasing an additional 282 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Credo Technology Group Stock Up 2.8%

NASDAQ CRDO opened at $192.56 on Wednesday. Credo Technology Group Holding Ltd. has a twelve month low of $86.49 and a twelve month high of $308.67. The business has a 50-day moving average price of $210.05 and a 200-day moving average price of $193.70. The firm has a market cap of $36.19 billion, a price-to-earnings ratio of 68.53, a price-to-earnings-growth ratio of 0.75 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The company had revenue of $479.00 million for the quarter, compared to the consensus estimate of $473.30 million. During the same quarter last year, the company earned $0.52 EPS. The firm's quarterly revenue was up 114.7% on a year-over-year basis. Research analysts expect that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CRDO. TD Cowen lifted their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. Wall Street Zen lowered shares of Credo Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Barclays raised their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Zacks Research cut shares of Credo Technology Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Credo Technology Group presently has an average rating of "Moderate Buy" and an average price target of $264.89.

Insider Activity at Credo Technology Group

In related news, CTO Chi Cheng sold 27,500 shares of the company's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $205.54, for a total transaction of $5,652,350.00. Following the completion of the transaction, the chief technology officer owned 5,799,870 shares in the company, valued at approximately $1,192,105,279.80. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Fleming sold 7,580 shares of the firm's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the transaction, the chief financial officer directly owned 504,708 shares of the company's stock, valued at $124,097,603.04. The trade was a 1.48% 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. Insiders have sold a total of 302,246 shares of company stock worth $64,700,584 in the last three months. Insiders own 9.06% of the company's stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo achieved PCI-SIG 6.x compliance for its Toucan retimer, strengthening its positioning in next-generation PCIe infrastructure and the expanding AI data-center market. Credo PCIe compliance article
• Positive Sentiment: The company’s new 1.6T ZeroFlap optics broaden its optical connectivity portfolio as management targets more than $600 million in fiscal 2027 optical revenue. This supports expectations for continued AI-related growth. Credo 1.6T optics article
• Positive Sentiment: Credo was added to the FTSE All-World Index, potentially increasing institutional visibility and demand from funds that track the benchmark. FTSE index inclusion article
• Positive Sentiment: Recent commentary points to triple-digit revenue growth, strong AI exposure and an earnings beat, leading some investors to view the stock’s decline from its highs as a potential buying opportunity. Credo growth outlook article
• Neutral Sentiment: Mizuho lowered its price target from $290 to $245 but retained an Outperform rating. The revision reflects greater valuation caution, although the target still indicates meaningful upside in the cited analysis. Mizuho Credo price target article
• Negative Sentiment: Bearish analysis warns that Credo’s premium valuation, customer concentration and execution requirements could cause additional weakness even as revenue expands rapidly. Bearish Credo analysis
• Negative Sentiment: Chief Technology Officer Chi Fung Cheng sold 27,500 shares worth approximately $4.6 million. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only 0.48%, limiting its significance but potentially weighing on sentiment. Credo CTO insider sale filing

Credo Technology Group Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for the data infrastructure market. Its products are designed to help move data efficiently within and between networking, storage and computing systems, with applications in artificial intelligence, cloud computing, telecommunications and enterprise data centers.

The company's portfolio includes serializer/deserializer (SerDes) integrated circuits, retimers, optical digital signal processors and active electrical cables.

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