BNP Paribas Financial Markets Has $119.79 Million Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• BNP Paribas Financial Markets cut its Credo Technology Group stake by 28.6% in the fourth quarter, but still held 832,490 shares worth about $119.8 million at quarter-end.
• Credo continues to benefit from strong AI/data-center demand, highlighted by its completed acquisition of DustPhotonics, which should expand its optical and active electrical cable offerings.
• The company has posted strong fundamentals and analyst support: its last earnings beat estimates, revenue jumped 201.5% year over year, and Wall Street’s consensus rating remains Buy with a target around $210.65.

BNP Paribas Financial Markets lowered its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 28.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 832,490 shares of the company's stock after selling 334,140 shares during the quarter. BNP Paribas Financial Markets owned 0.46% of Credo Technology Group worth $119,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new stake in shares of Credo Technology Group during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC grew its holdings in shares of Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after purchasing an additional 106 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $36,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Credo Technology Group by 133.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 257 shares of the company's stock worth $38,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. NASDAQ: CRDO Receives Consensus Recommendation of "Buy" from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

Credo Technology Group Price Performance

Credo Technology Group stock opened at $236.03 on Monday. The company has a market capitalization of $43.54 billion, a PE ratio of 131.13 and a beta of 3.22. Credo Technology Group Holding Ltd. has a one year low of $59.21 and a one year high of $240.81. The business has a 50 day simple moving average of $158.17 and a 200 day simple moving average of $144.80.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.78 by $0.29. The business had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.Credo Technology Group's revenue was up 201.5% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current fiscal year.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the completion of the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at approximately $209,764,835.36. The trade was a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total value of $3,234,000.00. Following the completion of the transaction, the chief technology officer owned 6,272,370 shares of the company's stock, valued at approximately $737,630,712. The trade was a 0.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 386,608 shares of company stock valued at $50,371,351 in the last 90 days. 11.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on CRDO shares. Rothschild & Co Redburn started coverage on Credo Technology Group in a report on Friday, May 1st. They set a "buy" rating and a $206.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and set a $220.00 price objective on shares of Credo Technology Group in a report on Wednesday, April 15th. Craig Hallum reissued a "buy" rating and set a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Stifel Nicolaus set a $250.00 price objective on Credo Technology Group in a report on Wednesday. Finally, Mizuho decreased their price objective on Credo Technology Group from $225.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Credo Technology Group presently has an average rating of "Buy" and a consensus target price of $210.65.

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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