Clear Street Group Inc. Acquires 284,201 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Clear Street Group increased its stake in Credo Technology Group by 435.8% in the fourth quarter, buying 284,201 additional shares and bringing its total holding to 349,410 shares worth about $50.3 million.
• Credo reported strong quarterly results, with earnings of $1.16 per share and revenue of $437 million, both ahead of estimates. Revenue jumped 157% year over year, underscoring continued momentum in AI and cloud networking demand.
• Despite the bullish performance, the stock faces some caution signals: shares were down 5.3% in the session, insiders have recently sold stock, and the company still trades at a rich valuation with a P/E ratio above 100.

Clear Street Group Inc. grew its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 435.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,410 shares of the company's stock after acquiring an additional 284,201 shares during the period. Credo Technology Group accounts for approximately 0.2% of Clear Street Group Inc.'s portfolio, making the stock its 28th largest holding. Clear Street Group Inc. owned 0.19% of Credo Technology Group worth $50,277,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Crewe Advisors LLC grew its position in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. Acumen Wealth Advisors LLC purchased a new stake in Credo Technology Group during the 4th quarter worth about $25,000. Flagship Harbor Advisors LLC bought a new position in Credo Technology Group in the 4th quarter worth about $32,000. Smallwood Wealth Investment Management LLC bought a new position in Credo Technology Group in the 4th quarter worth about $36,000. Finally, Van ECK Associates Corp purchased a new position in Credo Technology Group during the 4th quarter valued at about $37,000. 80.46% of the stock is owned by institutional investors.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, expanding its optical connectivity and silicon photonics portfolio for AI and cloud networking demand. The deal supports higher-speed products and could help drive growth as optical revenue ramps in coming fiscal years. Credo Technology (CRDO) Completes Acquisition of DustPhotonics to Expand Optical Connectivity Portfolio
• Positive Sentiment: Several articles highlighted Credo as a top-ranked or bullish AI-related stock, citing strong growth prospects, rising estimates, and favorable technical momentum. 3 Top Ranked Stocks Investors Can Buy Right Now
• Positive Sentiment: Analyst commentary remains constructive after earnings, with price target increases and expectations for continued strong revenue and earnings growth tied to AI infrastructure spending. Mizuho Raises PT on Credo Technology (CRDO) After FQ4 2026 Earnings
• Neutral Sentiment: Insider sales by Director Fariba Danesh and CTO Chi Fung Cheng may have added some caution, but the CTO sale was described as part of a pre-arranged plan to cover tax withholding on equity awards, limiting the bearish signal. Credo Technology Group NASDAQ: CRDO Director Fariba Danesh Sells 1,100 Shares
• Neutral Sentiment: Some coverage pointed to customer concentration risk, though management is working to diversify revenue beyond a few large hyperscale customers. Credo's Diversification Push: Can It Cut Customer Concentration Risk?
• Negative Sentiment: A Seeking Alpha downgrade to “Hold” suggests some investors think the stock may already reflect much of the near-term upside, especially after its strong run and rich valuation. Credo: Don't Chase This Winner Over The Cliff - Downgrade To Hold

Insider Buying and Selling

In other news, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction 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 sale, the chief executive officer directly owned 367,327 shares of the company's stock, valued at approximately $80,286,662.39. The trade was a 13.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the company's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $103.19, for a total transaction of $2,837,725.00. Following the completion of the transaction, the chief technology officer owned 6,162,370 shares of the company's stock, valued at $635,894,960.30. This trade represents a 0.44% 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. In the last three months, insiders sold 376,884 shares of company stock valued at $59,014,018. Corporate insiders own 11.84% of the company's stock.

Credo Technology Group Trading Down 5.3%

Shares of CRDO opened at $250.81 on Friday. Credo Technology Group Holding Ltd. has a 12-month low of $72.03 and a 12-month high of $270.21. The company has a market cap of $46.26 billion, a PE ratio of 101.13, a price-to-earnings-growth ratio of 1.32 and a beta of 3.22. The stock has a 50-day moving average price of $184.46 and a 200-day moving average price of $150.79.

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 for the quarter, topping the consensus estimate of $1.02 by $0.14. The company had revenue of $437.00 million for the quarter, compared to analysts' expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. Credo Technology Group'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 earnings per share. As a group, analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRDO. Roth Mkm upped their price target on Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Craig Hallum reaffirmed a "buy" rating and set a $200.00 price objective on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Mizuho upped their target price on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Weiss Ratings upgraded shares of Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus set a $250.00 price target on shares of Credo Technology Group in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $248.41.

Credo Technology Group Company 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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