Bank of America Corp DE cut its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,920,285 shares of the company's stock after selling 10,093 shares during the quarter. Bank of America Corp DE owned 1.04% of Credo Technology Group worth $180,257,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Credo Technology Group by 9.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company's stock worth $39,004,000 after acquiring an additional 23,332 shares during the period. FengHe Fund Management Pte. Ltd. grew its position in shares of Credo Technology Group by 5.7% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company's stock valued at $23,349,000 after acquiring an additional 8,769 shares during the period. M&T Bank Corp increased its stake in shares of Credo Technology Group by 428.8% in the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company's stock worth $1,932,000 after purchasing an additional 10,888 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Credo Technology Group by 2.2% in the 1st quarter. California State Teachers Retirement System now owns 240,886 shares of the company's stock worth $22,612,000 after purchasing an additional 5,113 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Credo Technology Group by 486.2% in the 4th quarter. Teacher Retirement System of Texas now owns 239,721 shares of the company's stock worth $34,493,000 after purchasing an additional 198,826 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.
Credo Technology Group News Summary
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo plans to showcase AI memory and storage connectivity solutions at Flash Memory Summit 2026. The event could highlight products positioned to benefit from rising data-center, AI and high-bandwidth memory infrastructure spending. Credo to Showcase AI Memory and Storage Connectivity Solutions at FMS 2026
- Positive Sentiment: Analysts and market commentary continue to identify Credo as an AI connectivity beneficiary. Although AI stocks have experienced a summer pullback, broader AI spending trends and published price targets suggest the company’s longer-term growth outlook remains intact. 5 AI Stocks Are Pulling Back—Which Growth Catalysts Still Look Strongest?
- Neutral Sentiment: Credo’s shares have risen 52% year to date, reflecting strong AI-related growth expectations. Its latest reported quarter also showed substantial year-over-year revenue growth and an earnings beat, but investors are weighing whether that growth justifies the stock’s premium valuation. Credo Technology Surges 52% YTD: Buy, Sell or Hold the Stock?
- Negative Sentiment: Executives disclosed additional stock sales made on July 31 under pre-arranged Rule 10b5-1 plans. The CTO sold 27,473 shares for about $5.8 million, while COO Yat Tung Lam sold a combined 105,441 shares for approximately $22.5 million. Both executives retain substantial holdings, which reduces—but does not eliminate—the concern that insiders are taking profits after the strong rally. SEC Form 4—CTO Sale SEC Form 4—COO Sales
- Negative Sentiment: A separate report noted that Credo’s co-founder and CTO disposed of roughly 27,500 shares worth about $6.1 million on July 21. The sale was a small percentage of total ownership, but adds to the recent pattern of insider profit-taking. Credo Technology Insider Sale
Insider Transactions at Credo Technology Group
In other news, CFO Daniel W. Fleming sold 7,580 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 504,708 shares in the company, valued at approximately $124,097,603.04. This represents a 1.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Tung Lam sold 55,441 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $213.02, for a total transaction of $11,810,041.82. Following the completion of the transaction, the chief operating officer directly owned 2,529,169 shares of the company's stock, valued at approximately $538,763,580.38. The trade was a 2.15% decrease in their position. 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 435,076 shares of company stock worth $101,043,506 in the last three months. Insiders own 11.84% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Needham & Company LLC raised their price objective on Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. TD Cowen lifted their price objective on Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Stifel Nicolaus increased their target price on shares of Credo Technology Group from $250.00 to $350.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Finally, Mizuho raised their target price on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $266.17.
View Our Latest Report on Credo Technology Group
Credo Technology Group Stock Up 9.0%
NASDAQ:CRDO opened at $237.92 on Wednesday. The business's 50-day simple moving average is $236.93 and its two-hundred day simple moving average is $172.92. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67. The stock has a market cap of $44.37 billion, a PE ratio of 95.94, a P/E/G ratio of 1.00 and a beta of 3.23.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same period in the prior year, the company posted $0.20 EPS. The firm's revenue for the quarter was up 157.0% compared to the same quarter last year. Sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.
About Credo Technology Group
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report).
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