Concurrent Investment Advisors LLC Acquires 10,073 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Concurrent Investment Advisors increased its Credo Technology Group stake by 69% in the second quarter, purchasing 10,073 shares and bringing its holdings to 24,674 shares worth approximately $6.71 million. Institutional investors own 80.46% of the company.
• Credo reported quarterly revenue of $479 million, up 114.7% year over year, and EPS of $1.20, beating estimates of $1.17. Analysts maintain a “Moderate Buy” consensus with an average price target of $267.39, although some firms have issued hold ratings.
• Despite strong growth, insiders sold approximately $88.6 million of stock over the past three months, while shares remain volatile and trade at a high valuation, with a P/E ratio of 60.70 and a beta of 3.22.

Concurrent Investment Advisors LLC grew its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 69.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,674 shares of the company's stock after purchasing an additional 10,073 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Credo Technology Group were worth $6,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reflection Asset Management bought a new stake in Credo Technology Group in the fourth quarter worth approximately $25,000. Acumen Wealth Advisors LLC acquired a new position in Credo Technology Group in the fourth quarter valued at approximately $25,000. Orion Capital Management LLC bought a new position in shares of Credo Technology Group during the 2nd quarter worth approximately $27,000. AlphaCentric Advisors LLC bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $33,000. Finally, Van ECK Associates Corp acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $37,000. Institutional investors own 80.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CRDO shares. Wall Street Zen lowered shares of Credo Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings restated a "hold (c+)" rating on shares of Credo Technology Group in a report on Friday, August 21st. Rosenblatt Securities lifted their price target on shares of Credo Technology Group from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Wednesday. TD Cowen lifted their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Finally, Stifel Nicolaus upped their price objective on shares of Credo Technology Group from $250.00 to $350.00 and gave the company a "buy" rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $267.39.

Credo Technology Group Stock Up 3.9%

Shares of CRDO opened at $170.57 on Friday. The business's fifty day moving average is $230.31 and its 200 day moving average is $189.00. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67. The stock has a market cap of $32.06 billion, a P/E ratio of 60.70, a P/E/G ratio of 0.69 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The business had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. During the same quarter in the previous year, the business posted $0.52 EPS. Credo Technology Group's quarterly revenue was up 114.7% on a year-over-year basis. On average, analysts expect that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current year.

Insider Transactions at Credo Technology Group

In related news, CTO Chi Cheng sold 27,473 shares of the company'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 sale, the chief technology officer owned 5,772,397 shares in the company, valued at $1,209,490,343.41. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Fleming sold 7,580 shares of the firm's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the completion of the transaction, the chief financial officer directly owned 504,708 shares in the company, valued at approximately $124,097,603.04. The trade was a 1.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 377,884 shares of company stock valued at $88,559,765 over the last three months. Corporate insiders own 9.06% of the company's stock.

Key Credo Technology Group News

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

• Positive Sentiment: Credo reported revenue of $479 million, up 115% year over year, while adjusted EPS of $1.20 exceeded the $1.17 consensus estimate. Management expects fiscal-year revenue growth of more than 85%, with optical revenue surpassing $600 million as a second growth engine develops. Why I Doubled Down On Credo
• Positive Sentiment: Bullish analysts argue that the market’s margin fears are overstated and that the optical business should scale meaningfully in the second half of fiscal 2027. DustPhotonics also expands Credo’s opportunities in silicon photonics, 800G, 1.6T and near-package optics. Credo And The Illusion Of Its Q1 Problems
• Positive Sentiment: Stifel Nicolaus reiterated a Buy view, while Rosenblatt raised its price target to $235, supporting the case that the recent valuation reset may have been excessive. Stifel Buy Rating
• Neutral Sentiment: Analysts remain divided. Bank of America lowered its price target to $275, while other analysts maintain bullish ratings, reflecting uncertainty over how quickly optical products will ramp and whether margins can stabilize. Bank of America Price Target
• Negative Sentiment: Bears point to shrinking gross margins, rising operating costs, approximately $88 million in quarterly stock-based compensation, insider selling and customer concentration exceeding 60% of revenue. They also question the durability of the optical outlook, competition from Marvell and the risk of slower hyperscaler capital spending after fiscal 2028. Credo: This Is Not A Buying Opportunity

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.

Want to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report).

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.