Credo Technology Group Holding Ltd. $CRDO Shares Sold by Sigma Planning Corp

Key Points

• Sigma Planning Corp cut its stake in Credo Technology Group by 56.1% in the first quarter, leaving it with 4,490 shares worth about $421,000.
• Credo remains heavily owned by institutions, with hedge funds and other investors holding about 80.46% of the stock, while insiders have also been selling shares in recent months.
• Analysts are still broadly bullish on CRDO, citing its role in AI infrastructure and high-speed connectivity; the company also posted strong quarterly results with revenue up 157% year over year and earnings beating estimates.

Sigma Planning Corp cut its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 56.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,490 shares of the company's stock after selling 5,749 shares during the period. Sigma Planning Corp's holdings in Credo Technology Group were worth $421,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Credo Technology Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company's stock worth $2,386,449,000 after purchasing an additional 59,849 shares during the period. State Street Corp grew its position in Credo Technology Group by 23.4% during the 4th quarter. State Street Corp now owns 4,486,320 shares of the company's stock worth $645,537,000 after purchasing an additional 849,654 shares during the last quarter. Geode Capital Management LLC increased its stake in Credo Technology Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company's stock valued at $555,117,000 after purchasing an additional 184,676 shares during the period. Corient Private Wealth LLC increased its stake in Credo Technology Group by 239,024.5% in the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company's stock valued at $517,835,000 after purchasing an additional 3,597,318 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock valued at $283,778,000 after purchasing an additional 1,218,504 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

More Credo Technology Group News

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

• Positive Sentiment: Analysts and market commentators continue to highlight Credo’s exposure to AI infrastructure, especially its active electrical cables and SerDes retimers used to connect GPU racks in hyperscale data centers. Price Prediction: Credo Stock Will Trade at This Price in 2027
• Positive Sentiment: Investor letters and commentary point to Credo benefiting from increasing connectivity demand, reinforcing the idea that the company is well positioned in AI networking and optical infrastructure. Credo Technology Gains from Increasing Connectivity Challenge
• Positive Sentiment: Several recent articles frame CRDO as a semiconductor supply-chain stock worth buying on the dip, citing demand for AI chip testing, packaging, and high-speed connectivity as potential support for a recovery. 4 AI Semiconductor Supply-Chain Stocks to Buy on the Recent Dip
• Neutral Sentiment: One recent write-up noted the stock’s sharp short-term pullback, but also argued that the sell-off may be an opportunity if Credo can sustain its revenue growth and AI networking momentum. Price Prediction: Credo Stock Will Trade at This Price in 2027
• Negative Sentiment: Broader semiconductor coverage suggests that strong AI-related gains across the sector may leave limited upside near term, which could temper enthusiasm if valuation remains rich. Barclays upgrades Lumentum, cuts Allegro, Penguin before chip earnings

Insider Activity

In other Credo Technology Group news, CTO Chi Fung Cheng sold 3,790 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $258.71, for a total transaction of $980,510.90. Following the transaction, the chief technology officer owned 140,358 shares in the company, valued at approximately $36,312,018.18. The trade was a 2.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total value of $1,863,770.40. Following the transaction, the chief financial officer directly owned 504,708 shares of the company's stock, valued at approximately $124,097,603.04. This trade represents a 1.48% 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 302,162 shares of company stock worth $70,897,646 in the last three months. 11.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Susquehanna boosted their price target on Credo Technology Group from $235.00 to $250.00 and gave the company a "positive" rating in a research report on Tuesday. Needham & Company LLC upped their price objective on Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. Finally, Evercore initiated coverage on Credo Technology Group in a research report on Monday, June 22nd. They set an "outperform" rating and a $325.00 price objective for the company. Two equities research 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. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $266.17.

Credo Technology Group Stock Performance

Shares of Credo Technology Group stock opened at $223.87 on Wednesday. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67. The company has a market cap of $41.75 billion, a P/E ratio of 90.27, a PEG ratio of 0.97 and a beta of 3.20. The firm has a fifty day moving average of $232.65 and a two-hundred day moving average of $168.33.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The business had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business's quarterly revenue was up 157.0% compared to the same quarter last year. As a group, equities analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current 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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