Credo Technology Group Holding Ltd. $CRDO Shares Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Credo Technology Group position by 14.6% in the second quarter, adding 22,181 shares for a total of 174,376 shares valued at approximately $47.4 million. Institutional investors and hedge funds own 80.46% of CRDO.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $264.89, although some firms recently downgraded the stock or reduced their targets.
• Credo reported quarterly EPS of $1.20 and revenue of $479 million, exceeding estimates, while revenue grew 114.7% year over year. Shares opened at $210.97, and the company trades at a high P/E ratio of 75.08.

Envestnet Asset Management Inc. grew its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,376 shares of the company's stock after purchasing an additional 22,181 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Credo Technology Group worth $47,421,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. City Center Advisors LLC grew its stake in shares of Credo Technology Group by 2.1% during the second quarter. City Center Advisors LLC now owns 2,595 shares of the company's stock worth $706,000 after acquiring an additional 53 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Credo Technology Group by 8.0% during the second quarter. Versant Capital Management Inc now owns 755 shares of the company's stock valued at $205,000 after acquiring an additional 56 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Credo Technology Group by 1.7% in the 1st quarter. QRG Capital Management Inc. now owns 5,402 shares of the company's stock valued at $507,000 after purchasing an additional 91 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Credo Technology Group by 1.6% in the 1st quarter. Bank of Nova Scotia now owns 6,026 shares of the company's stock valued at $566,000 after purchasing an additional 92 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in Credo Technology Group in the 2nd quarter worth approximately $27,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CRDO shares. Bank of America dropped their target price on shares of Credo Technology Group from $340.00 to $275.00 and set a "buy" rating on the stock in a research report on Wednesday, September 2nd. Wall Street Zen cut shares of Credo Technology Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Needham & Company LLC lifted their price objective 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. Zacks Research lowered shares of Credo Technology Group from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. Finally, Stifel Nicolaus upped their target price on Credo Technology Group from $250.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $264.89.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $210.97 on Monday. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67. The business's 50 day moving average price is $209.32 and its 200 day moving average price is $195.53. The firm has a market cap of $39.65 billion, a P/E ratio of 75.08, a P/E/G ratio of 0.84 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. During the same period last year, the firm posted $0.52 EPS. Credo Technology Group's revenue for the quarter was up 114.7% compared to the same quarter last year. As a group, research analysts expect that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Credo’s revenue more than tripled in fiscal 2026 as demand grew for its high-speed connectivity chips and cables, which move data between servers in AI data centers. The company is viewed as a direct beneficiary of continued AI infrastructure spending, although Nvidia’s much larger data-center business highlights the competitive scale of the market. Credo vs. Nvidia: Which AI Chip Stock Is a Better Buy in 2026?
• Positive Sentiment: Investor commentary highlighted Credo’s 114.7% year-over-year quarterly revenue growth, strong GAAP profitability, net cash balance sheet and expected full-year revenue growth above 85%. The DustPhotonics acquisition is expected to expand Credo’s optical capabilities and improve vertical integration, while its products may benefit from shortages affecting competing photonics suppliers. Credo: The Rise Of Muse Validates The AI Trade Photonics And Optics Are In Shortage, Buy Credo
• Neutral Sentiment: Options activity was unusually heavy, with investors purchasing 42,247 call contracts—41% above the average daily volume. This signals increased bullish speculation, but options trading alone does not guarantee sustained buying in the shares.
• Neutral Sentiment: Reported short interest was zero shares, implying no measurable short-selling pressure; however, the figure may reflect a reporting or data anomaly and offers limited insight into fundamentals.
• Negative Sentiment: Insider James Laufman sold 5,000 shares for approximately $925,000, reducing his direct holdings by 2.87%. The sale is relatively small compared with his remaining stake but may temper sentiment at a richly valued stock trading at a high earnings multiple. Insider Selling: Credo Technology Group Insider Sells 5,000 Shares

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CEO William Brennan sold 16,672 shares of Credo Technology Group stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $151.88, for a total transaction of $2,532,143.36. Following the completion of the transaction, the chief executive officer owned 1,600,830 shares in the company, valued at approximately $243,134,060.40. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of the firm's stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $193.12, for a total value of $5,310,800.00. Following the sale, the chief technology officer directly owned 5,689,897 shares in the company, valued at approximately $1,098,832,908.64. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 334,746 shares of company stock worth $70,936,384 over the last ninety days. 9.06% of the stock is owned by insiders.

About Credo Technology Group

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for the data infrastructure market. Its products are designed to help move data efficiently within and between networking, storage and computing systems, with applications in artificial intelligence, cloud computing, telecommunications and enterprise data centers.

The company's portfolio includes serializer/deserializer (SerDes) integrated circuits, retimers, optical digital signal processors and active electrical cables.

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