Credo Technology Group Holding Ltd. $CRDO Shares Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors increased its stake in Credo Technology Group by 79.7% in the fourth quarter, bringing its holdings to 17,151 shares worth about $2.47 million.
• Wall Street sentiment remains broadly bullish: several firms raised price targets, including Stifel ($350), Bank of America ($340), and Evercore ($325), while the consensus rating stays at Buy with an average target of $263.11.
• Credo reported a strong quarter, with EPS of $1.16 beating estimates and revenue of $437 million up 157% year over year, though the stock was still noted as trading down 10.1% in the article.

Pacer Advisors Inc. boosted its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 79.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,151 shares of the company's stock after purchasing an additional 7,605 shares during the period. Pacer Advisors Inc.'s holdings in Credo Technology Group were worth $2,468,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Crewe Advisors LLC boosted its stake in shares of Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after buying an additional 106 shares during the period. Acumen Wealth Advisors LLC acquired a new position in Credo Technology Group in the 4th quarter valued at about $25,000. Flagship Harbor Advisors LLC purchased a new stake in Credo Technology Group during the 4th quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC purchased a new stake in Credo Technology Group during the 4th quarter valued at approximately $36,000. Finally, Van ECK Associates Corp acquired a new stake in Credo Technology Group during the 4th quarter worth approximately $37,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group News Summary

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

• Positive Sentiment: Stifel raised its price target on Credo Technology Group to $350 from $250 and maintained a buy rating, signaling confidence in the company’s AI connectivity growth story. Why Is Credo Technology Stock Soaring Monday?
• Positive Sentiment: Bank of America boosted its price target to $340 from $252 and kept a buy rating, implying additional upside if Credo’s AI-related demand stays strong. Benzinga
• Positive Sentiment: Evercore upgraded Credo to strong-buy with a $325 target, highlighting substantial upside in AI networking infrastructure and optical interconnect opportunities. The Fly
• Positive Sentiment: BNP Paribas and other commentary continued to frame Credo as a leveraged way to play AI data-center interconnect growth, with the company’s optical and active electrical cable products seen as key drivers. Benzinga
• Neutral Sentiment: Roth MKM reportedly reiterated its buy rating, adding to the broader bullish analyst backdrop. Roth MKM Sticks to Its Buy Rating for Credo Technology Group Holding Ltd (CRDO)
• Neutral Sentiment: The stock also made Zacks’ Rank #1 growth list, which supports the bullish narrative but is less directly impactful than the analyst price-target increases. Best Growth Stocks to Buy for June 23rd

Analysts Set New Price Targets

Several research analysts have weighed in on CRDO shares. Rosenblatt Securities lifted their target price on Credo Technology Group from $175.00 to $215.00 and gave the company a "neutral" rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on Credo Technology Group from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 2nd. Mizuho increased their price target on Credo Technology Group from $260.00 to $290.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Craig Hallum reiterated a "buy" rating and issued a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Finally, Jefferies Financial Group boosted their price objective on shares of Credo Technology Group from $225.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $263.11.

Credo Technology Group Trading Down 10.1%

NASDAQ CRDO opened at $272.01 on Wednesday. The stock has a market capitalization of $50.72 billion, a price-to-earnings ratio of 109.68, a PEG ratio of 1.59 and a beta of 3.22. The business's 50 day moving average is $206.78 and its two-hundred day moving average is $155.42. Credo Technology Group Holding Ltd. has a 12-month low of $84.25 and a 12-month 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. 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 analysts' expectations of $431.80 million. During the same period last year, the firm earned $0.20 EPS. The company's quarterly revenue was up 157.0% compared to the same quarter last year. Equities analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Credo Technology Group news, Director Sylvia Acevedo sold 2,208 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $211.00, for a total transaction of $465,888.00. Following the sale, the director directly owned 16,337 shares in the company, valued at approximately $3,447,107. The trade was a 11.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $246.69, for a total transaction of $6,783,975.00. Following the completion of the transaction, the chief technology officer owned 5,964,870 shares of the company's stock, valued at $1,471,473,780.30. This represents a 0.46% 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 have sold 389,384 shares of company stock valued at $70,041,518 in the last quarter. Corporate insiders own 11.84% of the company's stock.

About Credo Technology Group

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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