Clearwave Capital LLC Invests $708,000 in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Clearwave Capital disclosed a new fourth-quarter position in Credo Technology Group, buying 4,920 shares valued at about $708,000.
• Institutional ownership remains high, with several other funds adding to CRDO and institutions now holding about 80.46% of the stock.
• Analysts are increasingly bullish after Credo’s strong fiscal 2026 results, with multiple firms raising price targets and the consensus rating sitting at Moderate Buy.

Clearwave Capital LLC acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,920 shares of the company's stock, valued at approximately $708,000.

Several other institutional investors and hedge funds have also bought and sold shares of CRDO. Mirae Asset Global Investments Co. Ltd. grew its position in Credo Technology Group by 9.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company's stock valued at $39,004,000 after purchasing an additional 23,332 shares during the period. M&T Bank Corp raised its holdings in shares of Credo Technology Group by 428.8% in the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company's stock worth $1,932,000 after acquiring an additional 10,888 shares during the last quarter. FengHe Fund Management Pte. Ltd. lifted its position in Credo Technology Group by 5.7% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company's stock valued at $23,349,000 after acquiring an additional 8,769 shares in the last quarter. TD Asset Management Inc acquired a new position in Credo Technology Group during the 3rd quarter valued at about $17,454,000. Finally, Second Line Capital LLC purchased a new stake in shares of Credo Technology Group in the third quarter worth approximately $4,283,000. 80.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Credo Technology Group

In related 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 value of $12,017,852.88. Following the sale, the chief executive officer owned 367,327 shares in the company, valued at $80,286,662.39. The trade was a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the business's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $118.25, for a total transaction of $3,251,875.00. Following the transaction, the chief technology officer directly owned 6,134,870 shares in the company, valued at approximately $725,448,377.50. The trade was a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 416,884 shares of company stock worth $72,809,943. 11.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRDO shares. Jefferies Financial Group upped their price target on Credo Technology Group from $225.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Susquehanna upped their price objective on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a "positive" rating in a research report on Tuesday, June 2nd. Rosenblatt Securities lifted their target price on shares of Credo Technology Group from $175.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. Needham & Company LLC upped their target price on Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a report on Monday, June 1st. Finally, Bank of America raised their target price on Credo Technology Group from $210.00 to $252.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. One investment analyst has 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 has a consensus rating of "Moderate Buy" and an average target price of $248.41.

Credo Technology Group News Summary

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

• Positive Sentiment: Market commentary says Credo Technology is emerging as a key AI connectivity supplier, with its data center and optical networking products positioned to benefit from continued AI infrastructure spending. Credo Technologies Accelerates AI—Its Stock Price Will Follow
• Positive Sentiment: Credo Technology Group received 2026 USA TODAY Top Workplaces honors for the second year in a row, reinforcing its ability to attract and retain talent. Credo Earns 2026 National and Regional Top Workplace Honors
• Positive Sentiment: Analysts remain constructive overall after Credo’s strong fiscal 2026 results, which included triple-digit revenue growth and earnings above expectations.
• Neutral Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a Rule 10b5-1 transaction; the sale is notable but was pre-planned and small relative to his remaining holdings. Credo Technology Group stock and insider trade details
• Negative Sentiment: Bearish commentary warns that CRDO may be overheated after its sharp run, with one analysis arguing the shares could be trading well above intrinsic value. Credo Technology Group Holding (CRDO) Stock Could Be 109.1% Overvalued After Its Recent Run

Credo Technology Group Price Performance

NASDAQ CRDO opened at $271.83 on Friday. The stock's 50-day simple moving average is $199.85 and its two-hundred day simple moving average is $154.16. Credo Technology Group Holding Ltd. has a twelve month low of $81.72 and a twelve month high of $274.90. The company has a market capitalization of $50.69 billion, a price-to-earnings ratio of 109.61, a PEG ratio of 1.43 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The company had revenue of $437.00 million for the quarter, compared to analysts' expectations of $431.80 million. During the same quarter last year, the company earned $0.20 EPS. The firm's revenue was up 157.0% compared to the same quarter last year. On average, equities analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

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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