Carnegie Investment Counsel Sells 92,592 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Carnegie Investment Counsel cut its stake in Credo Technology Group by 38.2% in Q1, selling 92,592 shares and leaving it with 149,722 shares valued at about $14.1 million.
• Credo continues to draw bullish attention around AI data-center infrastructure, with recent commentary highlighting strong demand for its high-speed connectivity products and exposure to hyperscaler AI networks.
• The company reported better-than-expected quarterly results, posting $1.16 EPS on $437 million in revenue, while analysts largely remain positive with a consensus Buy rating and an average price target of $263.11.

Carnegie Investment Counsel decreased its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 38.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 149,722 shares of the company's stock after selling 92,592 shares during the period. Carnegie Investment Counsel owned approximately 0.08% of Credo Technology Group worth $14,054,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CRDO. Crewe Advisors LLC lifted its holdings in Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after acquiring an additional 106 shares in the last quarter. Reflection Asset Management acquired a new position in Credo Technology Group in the fourth quarter valued at about $25,000. Acumen Wealth Advisors LLC bought a new stake in shares of Credo Technology Group in the fourth quarter worth about $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group in the fourth quarter worth about $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth about $36,000. Institutional investors own 80.46% of the company's stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Recent commentary remains bullish on Credo’s role in AI data-center infrastructure, highlighting strong demand for its high-speed connectivity products, expanding margins, and rapid revenue growth. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Positive Sentiment: Another recent piece emphasized Credo’s exposure to AI “toll roads,” including its active electrical cables and 1.6T interconnects, which are reportedly used in major hyperscaler training clusters and point to continued long-term growth. Credo: Strong AI-Led Growth Proposition
• Neutral Sentiment: Short interest fell sharply in June, which may ease some bearish pressure, but a separate July update showed no meaningful short-interest data change. Credo Technologies Accelerates AI—Its Stock Price Will Follow
• Neutral Sentiment: CTO Chi Fung Cheng sold shares in recent days under a pre-arranged Rule 10b5-1 plan, which is generally viewed as routine, but repeated insider sales can still weigh on investor sentiment. Credo's CTO Sold 31,290 Shares. His Remaining $1.6 Billion Stake Tells the Real Story
• Negative Sentiment: The stock also faced some headwinds from a broader chip-sector selloff, adding to near-term volatility in semiconductor names. Chip Stocks Join in Broad Selloff

Credo Technology Group Trading Down 3.0%

Shares of Credo Technology Group stock traded down $7.86 during trading on Friday, reaching $257.79. The stock had a trading volume of 3,963,791 shares, compared to its average volume of 8,897,760. The company has a market capitalization of $48.07 billion, a price-to-earnings ratio of 103.95, a P/E/G ratio of 1.18 and a beta of 3.20. The stock has a fifty day moving average price of $228.75 and a two-hundred day moving average price of $164.56. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the company earned $0.20 earnings per share. Credo Technology Group's quarterly revenue was up 157.0% on a year-over-year basis. On average, equities analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William Joseph Brennan sold 54,984 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were 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 directly owned 367,327 shares of the company's stock, valued at $80,286,662.39. This trade represents a 13.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel W. Fleming sold 40,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the sale, the chief financial officer owned 501,873 shares in the company, valued at $125,207,276.04. This trade 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. Insiders sold a total of 367,162 shares of company stock valued at $81,338,911 in the last quarter. 11.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CRDO shares. Susquehanna lifted their price objective on Credo Technology Group from $200.00 to $235.00 and gave the company a "positive" rating in a report on Tuesday, June 2nd. Jefferies Financial Group increased their target price on Credo Technology Group from $225.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Roth Capital raised their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $250.00 price target on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Finally, Evercore assumed coverage on shares of Credo Technology Group in a report on Monday, June 22nd. They issued an "outperform" rating and a $325.00 price target for the company. Two research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $263.11.

Credo Technology Group 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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