Credo Technology Group Holding Ltd. $CRDO Shares Acquired by H&H International Investment LLC

H&H International Investment LLC increased its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 431.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 751,200 shares of the company's stock after purchasing an additional 609,900 shares during the period. Credo Technology Group accounts for about 0.4% of H&H International Investment LLC's holdings, making the stock its 11th biggest holding. H&H International Investment LLC owned approximately 0.41% of Credo Technology Group worth $70,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CRDO. Crewe Advisors LLC grew its stake in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after buying an additional 106 shares in the last quarter. Reflection Asset Management acquired a new position in Credo Technology Group during the 4th quarter worth approximately $25,000. Acumen Wealth Advisors LLC purchased a new position in Credo Technology Group in the 4th quarter worth approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in Credo Technology Group in the fourth quarter valued at approximately $32,000. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Credo Technology Group during the first quarter valued at approximately $33,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group News Summary

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

• Positive Sentiment: A Seeking Alpha analysis argued that the CRDO sell-off looks overblown, pointing to the company’s strong AI-related growth prospects and suggesting the recent weakness may create an attractive entry point. Credo Stock Sell-Off Looks Overblown
• Positive Sentiment: Credo was included in Zacks’ Rank #1 (Strong Buy) growth-stock list, reinforcing favorable near-term analyst sentiment. Best Growth Stocks to Buy for July 28th
• Positive Sentiment: Analyst coverage remains supportive, with a broad “Buy” consensus and price targets above recent trading levels. The company’s latest reported quarter also showed 157% year-over-year revenue growth, earnings above expectations, and a 35.37% net margin.
• Neutral Sentiment: Credo’s chief technology officer, Chi Fung Cheng, sold 27,500 shares for approximately $5.65 million at an average price of $205.54 on July 27. The sale reduced his holdings by only 0.47%, and it was conducted under a pre-arranged Rule 10b5-1 plan. SEC insider transaction filing
• Negative Sentiment: The CTO has made several scheduled sales in recent months, including another 27,500-share transaction on July 21. While the transactions appear routine and he still owns roughly 5.8 million shares, repeated insider selling can weigh on sentiment, particularly after CRDO’s significant run-up.
• Negative Sentiment: MarketBeat characterized Credo among AI stocks undergoing a summer pullback. Investors may be locking in gains across the AI and semiconductor sector despite continued data-center spending and intact long-term growth catalysts. 5 AI Stocks Are Pulling Back

Analysts Set New Price Targets

CRDO has been the topic of several analyst reports. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Stifel Nicolaus raised their target price on Credo Technology Group from $250.00 to $350.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Rosenblatt Securities lifted their target price on Credo Technology Group from $175.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. Jefferies Financial Group lifted their price objective on Credo Technology Group from $225.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings raised Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Credo Technology Group has an average rating of "Buy" and a consensus price target of $266.17.

Credo Technology Group Stock Down 7.7%

NASDAQ:CRDO opened at $177.50 on Thursday. The company has a market cap of $33.10 billion, a PE ratio of 71.57, a P/E/G ratio of 0.88 and a beta of 3.20. The business's 50 day moving average is $236.68 and its two-hundred day moving average is $171.23. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67.

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 for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same period in the previous year, the business earned $0.20 EPS. The business's quarterly revenue was up 157.0% on a year-over-year basis. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 27,500 shares of the business's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $205.54, for a total transaction of $5,652,350.00. Following the completion of the sale, the chief technology officer owned 5,799,870 shares of the company's stock, valued at $1,192,105,279.80. This represents a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the sale, the chief financial officer owned 504,708 shares in the company, valued at approximately $124,097,603.04. This trade represents 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. In the last quarter, insiders have sold 329,662 shares of company stock valued at $77,732,771. 11.84% of the stock is owned by insiders.

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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