Counterpoint Mutual Funds LLC Purchases 51,560 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Counterpoint Mutual Funds LLC significantly boosted its stake in Credo Technology Group (NASDAQ:CRDO) by 2,516.3% in the first quarter, ending with 53,609 shares valued at about $5.0 million.
• Several Credo insiders sold shares recently, including CTO Chi Fung Cheng and CEO William Joseph Brennan, even as insiders still hold 11.84% of the company and institutional investors own 80.46% overall.
• Analysts remain bullish on Credo, with multiple price target increases and a consensus Buy rating; the stock also posted strong quarterly results, including 157% year-over-year revenue growth and EPS that beat estimates.

Counterpoint Mutual Funds LLC raised its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 2,516.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,609 shares of the company's stock after buying an additional 51,560 shares during the quarter. Credo Technology Group comprises 0.8% of Counterpoint Mutual Funds LLC's portfolio, making the stock its 13th biggest holding. Counterpoint Mutual Funds LLC's holdings in Credo Technology Group were worth $5,032,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC raised its holdings in shares of Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after acquiring an additional 106 shares in the last quarter. Reflection Asset Management purchased a new position in shares of Credo Technology Group in the fourth quarter valued at $25,000. Acumen Wealth Advisors LLC purchased a new position in shares of Credo Technology Group in the fourth quarter valued at $25,000. Flagship Harbor Advisors LLC bought a new stake in Credo Technology Group in the fourth quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Credo Technology Group in the fourth quarter worth $36,000. Institutional investors own 80.46% of the company's stock.

Insiders Place Their Bets

In related news, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $269.84, for a total transaction of $7,420,600.00. Following the completion of the transaction, the chief technology officer directly owned 5,909,870 shares of the company's stock, valued at approximately $1,594,719,320.80. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the company's stock in a transaction dated 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 transaction, 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 405,095 shares of company stock valued at $81,206,774. 11.84% of the stock is currently owned by company insiders.

Key Credo Technology Group News

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo's Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group NASDAQ: CRDO Stock

Wall Street Analysts Forecast Growth

CRDO has been the topic of a number of recent research reports. Bank of America upped their price target on shares of Credo Technology Group from $252.00 to $340.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Needham & Company LLC boosted their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a report on Monday, June 1st. Roth Mkm upped their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Susquehanna upped their target price on shares of Credo Technology Group from $200.00 to $235.00 and gave the company a "positive" rating in a research report on Tuesday, June 2nd. Finally, Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a report on Friday, May 1st. They issued a "buy" rating and a $206.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Credo Technology Group presently has a consensus rating of "Buy" and an average target price of $263.11.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $241.91 on Friday. The stock's fifty day moving average is $220.92 and its 200 day moving average is $160.44. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67. The firm has a market capitalization of $45.11 billion, a PE ratio of 97.54, a PEG ratio of 1.11 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued 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 company had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.Credo Technology Group's revenue was up 157.0% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. Equities analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Credo Technology Group 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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