Credo Technology Group Holding Ltd. $CRDO Shares Sold by Connors Investor Services Inc.

Key Points

• Connors Investor Services cut its Credo Technology Group stake by 28% in the fourth quarter, selling 5,464 shares and leaving it with 14,031 shares worth about $2.0 million.
• Credo shares surged to $218.41, near their 52-week high, after a strong earnings report that beat estimates with $1.07 EPS and 201.5% year-over-year revenue growth.
• Wall Street sentiment remains upbeat, with multiple firms reiterating buy ratings and a consensus price target of $207.71, even as insider selling has continued in recent months.

Connors Investor Services Inc. trimmed its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 28.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,031 shares of the company's stock after selling 5,464 shares during the quarter. Connors Investor Services Inc.'s holdings in Credo Technology Group were worth $2,019,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Credo Technology Group by 9.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company's stock worth $39,004,000 after acquiring an additional 23,332 shares during the last quarter. Optimize Financial Inc acquired a new position in shares of Credo Technology Group in the 3rd quarter worth $1,431,000. Estate Counselors LLC acquired a new position in shares of Credo Technology Group in the 3rd quarter worth $2,548,000. M&T Bank Corp grew its holdings in shares of Credo Technology Group by 428.8% in the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company's stock worth $1,932,000 after acquiring an additional 10,888 shares during the last quarter. Finally, FengHe Fund Management Pte. Ltd. grew its holdings in shares of Credo Technology Group by 5.7% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company's stock valued at $23,349,000 after buying an additional 8,769 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo was highlighted as an AI infrastructure winner alongside Nvidia, Innodata and Qualcomm, keeping investor focus on its exposure to edge computing and data growth. Zacks Investment Ideas feature highlights: Nvidia, Innodata, Credo Technology and Qualcomm
• Positive Sentiment: Zacks framed CRDO as one of the better alternative AI stocks to Nvidia, suggesting more upside as investors look beyond the mega-cap leader. Has Nvidia Become Too Big? 3 Alternative AI Stocks
• Positive Sentiment: Credo jumped after announcing an AI Factory partnership with Rebellions to integrate ZeroFlap cables into RebelPOD, which could strengthen its position in scalable AI data center builds. AI Factory Partnership With Rebellions Sends Credo's Shares Up 8%
• Positive Sentiment: Several outlets described Credo as a “Bull of the Day” and a top semiconductor stock with high upside potential, adding to the upbeat sentiment around the shares. Bull of the Day: Credo Technology Group (CRDO)
• Neutral Sentiment: One article compared CRDO with Coherent as an AI connectivity stock, but the piece was more of an industry comparison than a fresh catalyst. CRDO vs. COHR: Which AI Connectivity Stock Is the Better Buy?
• Negative Sentiment: Broader market coverage noted Nvidia weakness and mixed trading in AI names, which could have tempered enthusiasm even as Credo outperformed. Stock Market Today: Dow Up, Nvidia Sinks 2% While Intuit Craters; These AI Companies Thrive (Live Coverage)

Credo Technology Group Trading Up 12.9%

Shares of NASDAQ CRDO opened at $218.41 on Friday. Credo Technology Group Holding Ltd. has a one year low of $59.00 and a one year high of $218.95. The firm has a market capitalization of $40.29 billion, a PE ratio of 121.34 and a beta of 3.17. The business has a 50-day moving average price of $146.81 and a two-hundred day moving average price of $143.06.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business's quarterly revenue was up 201.5% compared to the same quarter last year. Research analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at $209,764,835.36. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total value of $3,234,000.00. Following the completion of the transaction, the chief technology officer owned 6,272,370 shares in the company, valued at $737,630,712. This trade represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 386,608 shares of company stock worth $50,371,351 in the last 90 days. Corporate insiders own 11.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRDO. Jefferies Financial Group started coverage on Credo Technology Group in a research report on Monday, April 13th. They set a "buy" rating and a $175.00 price target on the stock. Craig Hallum restated a "buy" rating and set a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Susquehanna decreased their price objective on Credo Technology Group from $230.00 to $170.00 and set a "positive" rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings lowered Credo Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. Finally, Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $207.71.

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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