Credo Technology Group Holding Ltd. $CRDO Shares Sold by Eventide Asset Management LLC

Key Points

• Eventide Asset Management cut its stake in Credo Technology Group by 20.7% in the fourth quarter, selling 4,222 shares and leaving it with 16,219 shares worth about $2.34 million.
• Analysts remain bullish on CRDO, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target of $248.41.
• Credo reported strong quarterly results, posting EPS of $1.16 versus expectations of $1.02 and revenue of $437 million, up 157% year over year.

Eventide Asset Management LLC lessened its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 20.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,219 shares of the company's stock after selling 4,222 shares during the quarter. Eventide Asset Management LLC's holdings in Credo Technology Group were worth $2,337,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRDO. Crewe Advisors LLC boosted its position in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after acquiring an additional 106 shares during the period. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at $36,000. Finally, Van ECK Associates Corp acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Craig Hallum restated a "buy" rating and issued a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Stifel Nicolaus set a $250.00 price objective on Credo Technology Group in a report on Wednesday, May 27th. Bank of America upped their price objective on Credo Technology Group from $210.00 to $252.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price objective on Credo Technology Group from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group upped their price objective on Credo Technology Group from $225.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. One research analyst has 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, Credo Technology Group has a consensus rating of "Moderate Buy" and a consensus price target of $248.41.

Insider Buying and Selling at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 27,500 shares of the company's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $103.19, for a total transaction of $2,837,725.00. Following the transaction, the chief technology officer directly owned 6,162,370 shares of the company's stock, valued at approximately $635,894,960.30. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $218.57, for a total value of $12,017,852.88. Following the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. The trade was a 13.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 376,884 shares of company stock worth $59,014,018 over the last three months. 11.84% of the stock is owned by insiders.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $250.81 on Monday. The stock's fifty day moving average is $184.46 and its 200-day moving average is $150.79. The firm has a market capitalization of $46.26 billion, a PE ratio of 101.13, a price-to-earnings-growth ratio of 1.32 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 12-month low of $72.03 and a 12-month high of $270.21.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.14. The company had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.Credo Technology Group's revenue for the quarter was up 157.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. Analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS 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 completed its acquisition of DustPhotonics, expanding its optical connectivity and silicon photonics portfolio for AI and cloud networking demand. The deal supports higher-speed products and could help drive growth as optical revenue ramps in coming fiscal years. Credo Technology (CRDO) Completes Acquisition of DustPhotonics to Expand Optical Connectivity Portfolio
• Positive Sentiment: Several articles highlighted Credo as a top-ranked or bullish AI-related stock, citing strong growth prospects, rising estimates, and favorable technical momentum. 3 Top Ranked Stocks Investors Can Buy Right Now
• Positive Sentiment: Analyst commentary remains constructive after earnings, with price target increases and expectations for continued strong revenue and earnings growth tied to AI infrastructure spending. Mizuho Raises PT on Credo Technology (CRDO) After FQ4 2026 Earnings
• Neutral Sentiment: Insider sales by Director Fariba Danesh and CTO Chi Fung Cheng may have added some caution, but the CTO sale was described as part of a pre-arranged plan to cover tax withholding on equity awards, limiting the bearish signal. Credo Technology Group NASDAQ: CRDO Director Fariba Danesh Sells 1,100 Shares
• Neutral Sentiment: Some coverage pointed to customer concentration risk, though management is working to diversify revenue beyond a few large hyperscale customers. Credo's Diversification Push: Can It Cut Customer Concentration Risk?
• Negative Sentiment: A Seeking Alpha downgrade to “Hold” suggests some investors think the stock may already reflect much of the near-term upside, especially after its strong run and rich valuation. Credo: Don't Chase This Winner Over The Cliff - Downgrade To Hold

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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