Credo Technology Group Holding Ltd. $CRDO Shares Acquired by Berkshire Capital Holdings Inc.

Berkshire Capital Holdings Inc. increased its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 693,700.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,380 shares of the company's stock after purchasing an additional 69,370 shares during the period. Credo Technology Group accounts for 4.1% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 12th biggest position. Berkshire Capital Holdings Inc.'s holdings in Credo Technology Group were worth $18,868,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new stake in Credo Technology Group in the 4th quarter worth about $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Credo Technology Group during the 4th quarter valued at about $25,000. AlphaCentric Advisors LLC acquired a new position in shares of Credo Technology Group during the 1st quarter valued at about $33,000. Van ECK Associates Corp purchased a new position in shares of Credo Technology Group during the 4th quarter worth about $37,000. Finally, Western Wealth Management LLC purchased a new position in shares of Credo Technology Group during the 1st quarter worth about $38,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $226.49 on Thursday. The stock has a 50-day simple moving average of $240.05 and a 200-day simple moving average of $185.65. The stock has a market capitalization of $42.24 billion, a P/E ratio of 91.33, a PEG ratio of 1.04 and a beta of 3.23. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67.

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

Insider Transactions at Credo Technology Group

In other news, COO Yat Tung Lam sold 55,441 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $213.02, for a total value of $11,810,041.82. Following the transaction, the chief operating officer owned 2,529,169 shares of the company's stock, valued at approximately $538,763,580.38. This trade represents a 2.15% decrease in their position. The sale 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 W. Fleming sold 7,580 shares of Credo Technology Group stock in a transaction on 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 transaction, the chief financial officer owned 504,708 shares in the company, valued at $124,097,603.04. The trade was a 1.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 435,076 shares of company stock valued at $101,043,506 over the last 90 days. Corporate insiders own 11.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CRDO shares. Evercore assumed coverage on shares of Credo Technology Group in a report on Monday, June 22nd. They issued an "outperform" rating and a $325.00 target price for the company. Rosenblatt Securities reaffirmed a "neutral" rating and set a $215.00 price target on shares of Credo Technology Group in a research note on Monday. The Goldman Sachs Group reiterated a "buy" rating and issued a $250.00 price target on shares of Credo Technology Group in a report on Tuesday, June 2nd. Wall Street Zen cut shares of Credo Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Roth Capital upped their price objective on Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $268.39.

More Credo Technology Group News

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

• Positive Sentiment: Potential Bloomberg 500 inclusion could support demand. Bloomberg Indices announced changes to the B500 index effective September 10. If Credo is among the ten securities being added, index-tracking funds could create incremental buying demand and improve the stock’s visibility. Bloomberg 500 Index Reconstitution
• Positive Sentiment: Strong operating momentum continues to attract investors. Credo’s latest reported quarter showed revenue growth of 157% year over year, with earnings and revenue exceeding consensus estimates. Its semiconductor connectivity products remain linked to demand for data-center and artificial-intelligence infrastructure. Credo Technology Group Investor Attention
• Neutral Sentiment: Upcoming quarterly results are the next major catalyst. Credo was expected to announce quarterly earnings on Tuesday, placing near-term emphasis on revenue growth, margins, and management’s outlook for connectivity demand. Credo Expected Earnings Announcement
• Neutral Sentiment: Analyst views remain mixed. Rosenblatt Securities reiterated a “Neutral” rating, while other analyst commentary compares Credo with Marvell and highlights differing views on the technology sector. Rosenblatt Neutral Rating
• Negative Sentiment: Valuation leaves little room for execution disappointments. One analysis argues that investors are paying a premium for Credo despite competitive and execution risks. With the stock trading at a high earnings multiple, any slowdown in growth or weaker guidance could pressure shares. Credo Valuation Analysis

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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