Axiom Investors LLC DE Sells 37,450 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Axiom Investors LLC DE cut its Credo Technology Group stake by 25.9% in the fourth quarter, selling 37,450 shares and leaving it with 107,200 shares valued at about $15.4 million.
• Credo has seen strong bullish interest and analyst support, with the stock up about 78% over three months and multiple firms raising price targets; the consensus rating is now Moderate Buy with an average target of $248.41.
• Despite some insider selling, Credo reported a strong quarter, posting $1.16 EPS on $437 million in revenue, both ahead of expectations, while revenue jumped 157% from a year earlier.

Axiom Investors LLC DE lowered its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 25.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 107,200 shares of the company's stock after selling 37,450 shares during the quarter. Axiom Investors LLC DE owned approximately 0.06% of Credo Technology Group worth $15,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CRDO. NewEdge Advisors LLC lifted its holdings in Credo Technology Group by 128.4% in the 1st quarter. NewEdge Advisors LLC now owns 7,066 shares of the company's stock worth $284,000 after buying an additional 3,972 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Credo Technology Group by 63.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock worth $61,235,000 after buying an additional 589,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Credo Technology Group by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company's stock worth $12,480,000 after buying an additional 7,107 shares during the period. CW Advisors LLC purchased a new stake in Credo Technology Group in the 2nd quarter worth approximately $288,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Credo Technology Group by 198.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock worth $46,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

Credo Technology Group News Summary

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

• Positive Sentiment: Traders bought more call options than usual, signaling bullish expectations for further upside in Credo Technology Group.
• Positive Sentiment: Recent commentary noted that CRDO has surged about 78% in three months, reflecting strong AI-driven demand and continued investor enthusiasm for the stock. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Another analysis said Credo remains one of the standout semiconductor names, outperforming the broader industry, sector, and the S&P 500 over the last quarter. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Neutral Sentiment: A market wrap-up article mentioned Credo as one of the stocks advancing during Tuesday’s session, but the main driver was broader market volatility rather than company-specific news. Stock Market Today: Nasdaq Ends Off Steeper Loss, Dow Rises After Downturn; Credo Technology Advances
• Neutral Sentiment: Insider selling by the CEO and a director may be weighing on sentiment somewhat, but these sales were relatively routine and do not necessarily signal a change in fundamentals.

Analyst Upgrades and Downgrades

CRDO has been the subject of several research analyst reports. Weiss Ratings upgraded Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Craig Hallum reiterated a "buy" rating and issued a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. JPMorgan Chase & Co. raised their target price on Credo Technology Group from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, June 2nd. Rothschild & Co Redburn assumed coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a "buy" rating and a $206.00 target price for the company. Finally, Bank of America raised their target price on Credo Technology Group from $210.00 to $252.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of "Moderate Buy" and an average target price of $248.41.

Insiders Place Their Bets

In other Credo Technology Group news, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the transaction, the chief executive officer owned 367,327 shares in the company, valued at approximately $80,286,662.39. The trade was a 13.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction on Monday, April 6th. The shares were sold at an average price of $103.19, for a total value of $2,837,725.00. Following the transaction, the chief technology officer owned 6,162,370 shares of the company's stock, valued at $635,894,960.30. The trade was a 0.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 348,284 shares of company stock valued at $51,616,969 in the last quarter. 11.84% of the stock is owned by company insiders.

Credo Technology Group Stock Up 5.4%

CRDO opened at $234.32 on Wednesday. The stock has a market cap of $43.22 billion, a PE ratio of 94.48, a PEG ratio of 1.44 and a beta of 3.22. The business has a 50 day moving average of $174.95 and a 200-day moving average of $148.44. Credo Technology Group Holding Ltd. has a 52 week low of $66.75 and a 52 week high of $252.70.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released 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 company had revenue of $437.00 million during the quarter, compared to analysts' expectations of $431.80 million. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The firm's revenue for the quarter was up 157.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 3.93 EPS for the current year.

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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