Castle Rock Wealth Management LLC acquired a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,424 shares of the company's stock, valued at approximately $1,923,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $25,000. Reflection Asset Management bought a new position in shares of Credo Technology Group in the 4th quarter valued at $25,000. Flagship Harbor Advisors LLC acquired a new position in shares of Credo Technology Group during the 4th quarter worth $32,000. AlphaCentric Advisors LLC bought a new stake in shares of Credo Technology Group during the 1st quarter worth $33,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Credo Technology Group in the fourth quarter valued at about $36,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CFO Daniel W. Fleming sold 7,580 shares of the firm's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total value of $1,863,770.40. Following the completion of the sale, the chief financial officer directly owned 504,708 shares in the company, valued at $124,097,603.04. This trade represents a 1.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 27,473 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $209.53, for a total value of $5,756,417.69. Following the completion of the sale, the chief technology officer directly owned 5,772,397 shares of the company's stock, valued at $1,209,490,343.41. The trade was a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 435,076 shares of company stock worth $101,043,506. 11.84% of the stock is currently owned by company insiders.
Key Stories Impacting Credo Technology Group
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo is being highlighted as a high-growth AI photonics and connectivity beneficiary. Analysts point to rising demand for optical interconnects, an expanding product portfolio and bullish revenue expectations as potential catalysts for continued growth. Buy These 2 High-Flying AI-Led Photonics Stocks With More Room to Grow
- Positive Sentiment: The Federal Communications Commission is reportedly considering restrictions on imports of new Chinese optical transceivers. Because China controls more than half of the global transceiver market, potential limits could tighten supply and improve the competitive positioning of U.S.-linked optical and interconnect suppliers such as Credo. The Trump Administration Could Soon Create the Mother of All AI Bottlenecks
- Positive Sentiment: Credo showcased new interconnect solutions for AI memory and storage at Flash Memory Summit 2026. The products are aimed at data-center scale requirements and could benefit from continued spending on AI servers, high-bandwidth memory and storage infrastructure. Credo Technology Group Holding Showcased AI Interconnects
- Neutral Sentiment: Credo recently delivered a substantial earnings beat, with quarterly revenue up 157% year over year and earnings per share exceeding consensus estimates. The results support the growth narrative, but the stock trades at an elevated earnings multiple, leaving less room for execution disappointments. Price Prediction: Credo Will Trade at This Price in 2030
- Negative Sentiment: Zacks Research downgraded Credo from “strong buy” to “hold,” reflecting caution after the stock’s substantial rally and concerns that its valuation may already price in significant AI-driven growth. Zacks
- Negative Sentiment: CTO Chi Fung Cheng sold 27,473 shares worth approximately $5.8 million under a pre-arranged Rule 10b5-1 trading plan. The sale represents only a small fraction of his remaining holdings, but adds to a pattern of insider profit-taking that may weigh on sentiment. Chi Fung Cheng Sells Shares of Credo Technology Group
Credo Technology Group Price Performance
NASDAQ CRDO opened at $230.43 on Friday. The stock has a market capitalization of $42.97 billion, a P/E ratio of 92.92, a P/E/G ratio of 1.03 and a beta of 3.23. The business has a 50 day simple moving average of $237.16 and a 200 day simple moving average of $174.01. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67.
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 (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.14. The firm had revenue of $437.00 million for the quarter, compared to analysts' expectations of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company's revenue for the quarter was up 157.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. Equities analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have commented on CRDO. Wall Street Zen downgraded Credo Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. TD Cowen lifted their price target on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Bank of America upped their price objective on shares of Credo Technology Group from $252.00 to $340.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Rosenblatt Securities increased their price objective on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a "neutral" rating in a research note on Tuesday, June 2nd. Finally, Susquehanna raised their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the company a "positive" rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Credo Technology Group has a consensus rating of "Moderate Buy" and a consensus target price of $266.17.
View Our Latest Analysis on Credo Technology Group
Credo Technology Group Company Profile
(
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.
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