Credo Technology Group Holding Ltd. $CRDO Shares Sold by Straight Path Wealth Management

Key Points

• Straight Path Wealth Management cut its position in Credo Technology Group by 80.3% in the fourth quarter, selling 29,300 shares and leaving it with 7,200 shares worth about $1.0 million.
• Despite that sale, institutional ownership remains very high, with hedge funds and other investors holding 80.46% of the company. Several large firms, including Vanguard, JPMorgan, and Geode, increased their stakes.
• Credo reported strong quarterly results, with earnings of $1.16 per share and revenue of $437 million, both above estimates, while revenue jumped 157% year over year. Analysts remain bullish, with multiple price-target increases and a consensus “Moderate Buy” rating.

Straight Path Wealth Management decreased its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 80.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,200 shares of the company's stock after selling 29,300 shares during the quarter. Straight Path Wealth Management's holdings in Credo Technology Group were worth $1,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Credo Technology Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company's stock worth $2,386,449,000 after acquiring an additional 59,849 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Credo Technology Group by 18.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company's stock worth $1,121,118,000 after acquiring an additional 1,190,522 shares during the last quarter. Geode Capital Management LLC raised its stake in Credo Technology Group by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company's stock worth $555,117,000 after acquiring an additional 184,676 shares during the last quarter. Alliancebernstein L.P. raised its stake in Credo Technology Group by 66.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock worth $283,778,000 after acquiring an additional 1,218,504 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Credo Technology Group by 161.5% in the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock worth $331,710,000 after acquiring an additional 1,406,752 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Credo Technology Group Stock Performance

NASDAQ CRDO opened at $217.50 on Friday. The stock has a 50-day simple moving average of $167.59 and a two-hundred day simple moving average of $146.77. The firm has a market capitalization of $40.12 billion, a P/E ratio of 87.70, a PEG ratio of 1.44 and a beta of 3.22. Credo Technology Group Holding Ltd. has a fifty-two week low of $66.75 and a fifty-two week high of $245.95.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. The business had revenue of $437.00 million during 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%.The company's revenue was up 157.0% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. As a group, analysts forecast that Credo Technology Group Holding Ltd. will post 3.78 earnings per share 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 Credo Technology Group stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the completion of the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at approximately $209,764,835.36. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group 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 of the company's stock, valued at approximately $737,630,712. This represents a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 386,608 shares of company stock valued at $50,371,351 in the last quarter. Company insiders own 11.84% of the company's stock.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Multiple articles highlighted Credo’s strong fiscal 2026 results, including revenue more than tripling year over year and earnings beating expectations, reinforcing the idea that the company is benefiting from rapid AI networking demand.
• Positive Sentiment: Management’s commentary on the earnings call pointed to an upcoming optical networking ramp, with plans for more than $600 million in optical revenue in fiscal 2027 and over 80% revenue growth guidance, which investors view as a major next leg of growth. Article: CRDO Q4 Earnings Call Flags Optical Ramp as Next Leg
• Positive Sentiment: Wall Street commentary remained constructive, with coverage noting analysts are increasingly bullish on CRDO and that the company remains a key AI infrastructure beneficiary. Article: Wall Street delivers a surprising verdict on Credo stock
• Neutral Sentiment: Credo also presented at the Bank of America Global Technology Conference, but the event was a transcript/discussion rather than a new financial catalyst. Article: Credo Technology Group Holding Ltd (CRDO) Presents at Bank of America 2026 Global Technology Conference Transcript
• Neutral Sentiment: Several follow-up articles focused on valuation and the sustainability of growth after the stock’s huge run-up, suggesting some investors are debating whether the rally has already priced in a lot of good news.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CRDO shares. Jefferies Financial Group raised their target price on Credo Technology Group from $225.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday. Rothschild & Co Redburn started coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a "buy" rating and a $206.00 target price for the company. JPMorgan Chase & Co. raised their target price on Credo Technology Group from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday. Roth Mkm raised their target price on Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Craig Hallum restated a "buy" rating and issued a $200.00 target price on shares of Credo Technology Group in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $248.41.

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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