Credo Technology Group Holding Ltd. $CRDO Shares Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its stake in Credo Technology Group by 28.8% in the first quarter, buying 87,119 additional shares and bringing its total holding to 389,106 shares worth about $36.5 million.
• Insider selling has been active recently: CTO Chi Fung Cheng and CEO William Joseph Brennan both sold shares in June, and insiders have sold 367,162 shares worth about $81.3 million over the last three months.
• Analyst sentiment remains bullish overall, with multiple firms raising price targets and the stock holding a consensus “Buy” rating and average target price of $263.11. Credo also recently beat quarterly earnings and revenue estimates, with revenue up 157% year over year.

Candriam S.C.A. boosted its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 28.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 389,106 shares of the company's stock after buying an additional 87,119 shares during the period. Candriam S.C.A. owned approximately 0.21% of Credo Technology Group worth $36,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CRDO. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Credo Technology Group by 16.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company's stock worth $80,000 after purchasing an additional 77 shares during the last quarter. QRG Capital Management Inc. raised its position in Credo Technology Group by 1.7% during the first quarter. QRG Capital Management Inc. now owns 5,402 shares of the company's stock valued at $507,000 after acquiring an additional 91 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in Credo Technology Group by 2.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company's stock valued at $741,000 after acquiring an additional 100 shares during the period. Spirepoint Private Client LLC boosted its position in Credo Technology Group by 6.6% in the 4th quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company's stock worth $243,000 after purchasing an additional 105 shares in the last quarter. Finally, Crewe Advisors LLC boosted its position in Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after purchasing an additional 106 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $259.53, for a total value of $7,137,075.00. Following the transaction, the chief technology officer directly owned 5,992,370 shares of the company's stock, valued at $1,555,199,786.10. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Joseph Brennan sold 54,984 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $218.57, for a total value of $12,017,852.88. Following the transaction, the chief executive officer owned 367,327 shares in the company, valued at approximately $80,286,662.39. This represents a 13.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 367,162 shares of company stock worth $81,338,911. 11.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRDO. Roth Capital lifted their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Rosenblatt Securities increased their price target on shares of Credo Technology Group from $175.00 to $215.00 and gave the stock a "neutral" rating in a report on Tuesday, June 2nd. TD Cowen raised their price target on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Stifel Nicolaus lifted their price objective on shares of Credo Technology Group from $250.00 to $350.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Finally, Needham & Company LLC increased their target price 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. 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. Based on data from MarketBeat, Credo Technology Group has a consensus rating of "Buy" and a consensus target price of $263.11.

More Credo Technology Group News

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

• Positive Sentiment: Recent commentary remains bullish on Credo’s role in AI data-center infrastructure, highlighting strong demand for its high-speed connectivity products, expanding margins, and rapid revenue growth. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Positive Sentiment: Another recent piece emphasized Credo’s exposure to AI “toll roads,” including its active electrical cables and 1.6T interconnects, which are reportedly used in major hyperscaler training clusters and point to continued long-term growth. Credo: Strong AI-Led Growth Proposition
• Neutral Sentiment: Short interest fell sharply in June, which may ease some bearish pressure, but a separate July update showed no meaningful short-interest data change. Credo Technologies Accelerates AI—Its Stock Price Will Follow
• Neutral Sentiment: CTO Chi Fung Cheng sold shares in recent days under a pre-arranged Rule 10b5-1 plan, which is generally viewed as routine, but repeated insider sales can still weigh on investor sentiment. Credo's CTO Sold 31,290 Shares. His Remaining $1.6 Billion Stake Tells the Real Story
• Negative Sentiment: The stock also faced some headwinds from a broader chip-sector selloff, adding to near-term volatility in semiconductor names. Chip Stocks Join in Broad Selloff

Credo Technology Group Stock Down 3.0%

Shares of NASDAQ CRDO traded down $7.86 during midday trading on Friday, hitting $257.79. The stock had a trading volume of 3,963,791 shares, compared to its average volume of 8,897,760. The company has a market capitalization of $48.07 billion, a PE ratio of 103.95, a P/E/G ratio of 1.18 and a beta of 3.20. The stock has a 50 day simple moving average of $228.75 and a 200-day simple moving average of $164.56. 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 issued its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.02 by $0.14. The firm had revenue of $437.00 million during the quarter, compared to analysts' expectations of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The firm's revenue for the quarter was up 157.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 earnings per share. As a group, analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

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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