Catalyst Funds Management Pty Ltd Sells 9,800 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Catalyst Funds Management cut its Credo Technology Group stake by 26.7% in the fourth quarter, selling 9,800 shares and leaving it with 26,900 shares worth about $3.87 million.
• Credo has been drawing bullish AI-related attention, with recent coverage highlighting it as an AI infrastructure winner and a potential alternative AI stock to Nvidia. The company also gained traction after announcing an AI Factory partnership with Rebellions.
• The stock has surged sharply, recently opening at $218.41 near its 52-week high of $218.95, while the latest quarter showed strong results with EPS of $1.07 and revenue up 201.5% year over year.

Catalyst Funds Management Pty Ltd decreased its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,900 shares of the company's stock after selling 9,800 shares during the period. Credo Technology Group accounts for about 0.9% of Catalyst Funds Management Pty Ltd's portfolio, making the stock its 16th biggest holding. Catalyst Funds Management Pty Ltd's holdings in Credo Technology Group were worth $3,871,000 as of its most recent SEC filing.

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

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo was highlighted as an AI infrastructure winner alongside Nvidia, Innodata and Qualcomm, keeping investor focus on its exposure to edge computing and data growth. Zacks Investment Ideas feature highlights: Nvidia, Innodata, Credo Technology and Qualcomm
• Positive Sentiment: Zacks framed CRDO as one of the better alternative AI stocks to Nvidia, suggesting more upside as investors look beyond the mega-cap leader. Has Nvidia Become Too Big? 3 Alternative AI Stocks
• Positive Sentiment: Credo jumped after announcing an AI Factory partnership with Rebellions to integrate ZeroFlap cables into RebelPOD, which could strengthen its position in scalable AI data center builds. AI Factory Partnership With Rebellions Sends Credo's Shares Up 8%
• Positive Sentiment: Several outlets described Credo as a “Bull of the Day” and a top semiconductor stock with high upside potential, adding to the upbeat sentiment around the shares. Bull of the Day: Credo Technology Group (CRDO)
• Neutral Sentiment: One article compared CRDO with Coherent as an AI connectivity stock, but the piece was more of an industry comparison than a fresh catalyst. CRDO vs. COHR: Which AI Connectivity Stock Is the Better Buy?
• Negative Sentiment: Broader market coverage noted Nvidia weakness and mixed trading in AI names, which could have tempered enthusiasm even as Credo outperformed. Stock Market Today: Dow Up, Nvidia Sinks 2% While Intuit Craters; These AI Companies Thrive (Live Coverage)

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $218.41 on Friday. The business has a 50 day simple moving average of $146.81 and a two-hundred day simple moving average of $143.06. The stock has a market capitalization of $40.29 billion, a P/E ratio of 121.34 and a beta of 3.17. Credo Technology Group Holding Ltd. has a 12 month low of $59.00 and a 12 month high of $218.95.

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

Insider Transactions at Credo Technology Group

In other news, insider James Laufman sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total transaction of $1,644,100.00. Following the completion of the transaction, the insider directly owned 198,609 shares in the company, valued at $32,653,305.69. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Joseph Brennan sold 6,149 shares of the stock in a transaction on Sunday, April 5th. The shares were sold at an average price of $101.45, for a total value of $623,816.05. Following the completion of the sale, the chief executive officer owned 222,311 shares in the company, valued at approximately $22,553,450.95. The trade was a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 386,608 shares of company stock worth $50,371,351 in the last ninety days. 11.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of analyst reports. Susquehanna cut their price target on Credo Technology Group from $230.00 to $170.00 and set a "positive" rating on the stock in a report on Tuesday, March 3rd. Rothschild & Co Redburn started coverage on Credo Technology Group in a research report on Friday, May 1st. They set a "buy" rating and a $206.00 price target for the company. Rosenblatt Securities lifted their price target on Credo Technology Group from $125.00 to $175.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 15th. Roth Mkm decreased their price objective on Credo Technology Group from $250.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. Finally, Weiss Ratings cut Credo Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, April 24th. Two equities 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 stock. Based on data from MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and a consensus target price of $207.71.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.