Credo Technology Group Holding Ltd. $CRDO Stock Acquired by GoalVest Advisory LLC

Key Points

• GoalVest Advisory LLC increased its Credo Technology Group stake by 49,226.5% in the third quarter, ending with 24,170 shares valued at approximately $4.7 million. Institutional investors collectively own 80.46% of CRDO.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $264.89, despite several recent target-price reductions.
• Credo reported strong quarterly momentum, with revenue up 114.7% year over year to $479 million and EPS of $1.20 versus the $1.17 consensus estimate. However, insiders have sold shares under pre-arranged trading plans, including $79.2 million in sales over the past 90 days.

GoalVest Advisory LLC boosted its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 49,226.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,170 shares of the company's stock after buying an additional 24,121 shares during the period. GoalVest Advisory LLC's holdings in Credo Technology Group were worth $4,708,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRDO. Corient Private Wealth LLC increased its holdings in Credo Technology Group by 239,024.5% in the 4th 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 last quarter. Atreides Management LP acquired a new stake in shares of Credo Technology Group in the first quarter valued at $102,434,000. The Manufacturers Life Insurance Company raised its holdings in shares of Credo Technology Group by 192.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company's stock valued at $98,290,000 after buying an additional 688,596 shares during the period. H&H International Investment LLC raised its holdings in shares of Credo Technology Group by 431.6% in the 1st quarter. H&H International Investment LLC now owns 751,200 shares of the company's stock valued at $70,515,000 after buying an additional 609,900 shares during the period. Finally, Scge Management L.P. acquired a new position in Credo Technology Group during the 4th quarter worth about $82,017,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, September 18th. Bank of America reduced their target price on shares of Credo Technology Group from $340.00 to $275.00 and set a "buy" rating on the stock in a report on Wednesday, September 2nd. Mizuho dropped their price target on shares of Credo Technology Group from $290.00 to $245.00 and set an "outperform" rating for the company in a research note on Monday, September 21st. Wall Street Zen cut Credo Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, TD Cowen lifted their target price on Credo Technology Group from $260.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Credo Technology Group currently has an average rating of "Moderate Buy" and an average target price of $264.89.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Cheng sold 27,500 shares of the company's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $205.54, for a total value of $5,652,350.00. Following the completion of the transaction, the chief technology officer owned 5,799,870 shares in the company, valued at $1,192,105,279.80. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 55,441 shares of Credo Technology Group stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $213.02, for a total value of $11,810,041.82. Following the sale, the chief operating officer owned 2,529,169 shares in the company, valued at $538,763,580.38. This trade represents a 2.15% 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. In the last 90 days, insiders sold 384,746 shares of company stock valued at $79,163,859. Company insiders own 9.06% of the company's stock.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo’s high-speed connectivity products are positioned to benefit as AI infrastructure spending expands beyond processors into the networking and optical components needed to connect large data-center clusters. Recent coverage describes the company as a potential beneficiary of this next phase of AI investment. AI Spending Is Entering Its Next Phase
• Positive Sentiment: The bullish case is supported by Credo’s latest results: quarterly revenue rose 114.7% year over year to $479 million, while earnings of $1.20 per share exceeded the $1.17 consensus estimate. Momentum-focused coverage also notes that the stock has gained since the earnings report. Credo Momentum Stock Analysis
• Positive Sentiment: Sell-side analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $264.89. Recent analyst targets range as high as $292, suggesting potential upside if Credo sustains its growth. Credo Moderate Buy Rating
• Neutral Sentiment: CTO Chi Cheng sold 27,500 shares for approximately $5.3 million under a pre-arranged Rule 10b5-1 plan. The sale reduced his ownership by only 0.48%, and he continued to hold more than 5.6 million shares, limiting its immediate bearish significance. SEC Insider Sale Filing
• Negative Sentiment: Additional insider selling may weigh on sentiment: the COO reportedly sold 100,000 shares, while CEO sales totaled approximately $2.5 million. Although these transactions may be planned disposals rather than signals about business conditions, they add supply and investor caution after the stock’s strong advance. Credo COO Planned Sale
• Negative Sentiment: CRDO trades at a high earnings multiple and has substantial volatility, making the shares vulnerable to a pullback if AI-related spending slows, growth estimates are reduced, or investors rotate away from high-growth technology stocks. Arm Versus Credo Technology

Credo Technology Group Price Performance

Shares of CRDO traded up $11.21 during midday trading on Friday, reaching $221.38. The stock had a trading volume of 6,507,258 shares, compared to its average volume of 7,511,521. The company has a market cap of $41.61 billion, a price-to-earnings ratio of 78.70, a PEG ratio of 0.78 and a beta of 3.25. The company's fifty day simple moving average is $207.10 and its two-hundred day simple moving average is $197.87. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $473.30 million. During the same period in the previous year, the business earned $0.52 EPS. Credo Technology Group's revenue for the quarter was up 114.7% on a year-over-year basis. On average, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

About Credo Technology Group

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company's product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.

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