Credo Technology Group Holding Ltd. $CRDO Holdings Lifted by Geode Capital Management LLC

Key Points

• Geode Capital Management boosted its CRDO stake by 5.0% in the fourth quarter, bringing its holdings to 3.86 million shares worth about $555.1 million.
• Insider selling was notable, with CEO William Joseph Brennan and CTO Chi Fung Cheng both selling shares on March 11; insiders sold 386,608 shares total in the last quarter.
• Analysts remain bullish overall, with a consensus “Buy” rating and average price target of $210.65, while the stock recently traded up 6.2% and hit a new high near $240.81 after strong earnings and revenue growth.

Geode Capital Management LLC increased its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,862,041 shares of the company's stock after acquiring an additional 184,676 shares during the period. Geode Capital Management LLC owned approximately 2.14% of Credo Technology Group worth $555,117,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Credo Technology Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company's stock worth $2,386,449,000 after acquiring an additional 59,849 shares during the period. JPMorgan Chase & Co. grew its holdings in Credo Technology Group by 18.3% during the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company's stock worth $1,121,118,000 after acquiring an additional 1,190,522 shares during the period. Alliancebernstein L.P. grew its holdings in Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock worth $283,778,000 after acquiring an additional 1,218,504 shares during the period. Bank of America Corp DE grew its holdings in Credo Technology Group by 161.5% during the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock worth $331,710,000 after acquiring an additional 1,406,752 shares during the period. Finally, Swedbank AB grew its holdings in Credo Technology Group by 47.1% during the fourth quarter. Swedbank AB now owns 2,062,779 shares of the company's stock worth $296,813,000 after acquiring an additional 660,679 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the completion of the sale, the chief technology officer directly owned 6,272,370 shares in the company, valued at approximately $737,630,712. This trade represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Joseph Brennan sold 50,000 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the sale, the chief executive officer owned 1,782,502 shares of the company's stock, valued at $209,764,835.36. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 386,608 shares of company stock valued at $50,371,351 in the last quarter. 11.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CRDO shares. Mizuho lowered their target price on Credo Technology Group from $225.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, March 3rd. Stifel Nicolaus set a $250.00 target price on Credo Technology Group in a report on Wednesday. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. The Goldman Sachs Group lifted their target price on Credo Technology Group from $150.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Finally, Weiss Ratings raised Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $210.65.

Credo Technology Group Stock Up 6.2%

NASDAQ:CRDO opened at $236.03 on Friday. Credo Technology Group Holding Ltd. has a 1-year low of $59.21 and a 1-year high of $240.81. The firm has a market capitalization of $43.54 billion, a price-to-earnings ratio of 131.13 and a beta of 3.17. The stock has a fifty day simple moving average of $158.17 and a 200 day simple moving average of $144.98.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share 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 quarter last year, the company posted $0.25 EPS. Credo Technology Group's revenue for the quarter was up 201.5% on a year-over-year basis. Equities analysts predict that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. NASDAQ: CRDO Receives Consensus Recommendation of "Buy" from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

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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