Credo Technology Group Holding Ltd. $CRDO Stock Holdings Decreased by Renaissance Group LLC

Key Points

• Renaissance Group LLC cut its stake in Credo Technology Group by 27.5% in the fourth quarter, selling 23,921 shares and leaving it with 63,007 shares valued at about $9.1 million.
• Despite some portfolio trimming, Credo remains heavily held by institutions, with hedge funds and other institutional investors owning 80.46% of the stock. Several major firms, including Vanguard and JPMorgan, increased their positions.
• Wall Street sentiment is broadly bullish: analysts recently raised price targets, and Credo’s latest earnings beat expectations with 157% year-over-year revenue growth and EPS of $1.16 versus the $1.02 estimate.

Renaissance Group LLC lowered its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,007 shares of the company's stock after selling 23,921 shares during the quarter. Renaissance Group LLC's holdings in Credo Technology Group were worth $9,066,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Credo Technology Group by 18.3% in the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company's stock valued at $1,121,118,000 after purchasing an additional 1,190,522 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 worth $555,117,000 after buying an additional 184,676 shares during the period. Alliancebernstein L.P. boosted its position in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock worth $283,778,000 after buying an additional 1,218,504 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Credo Technology Group by 161.5% during the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock valued at $331,710,000 after buying an additional 1,406,752 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Susquehanna upped their price target on Credo Technology Group from $200.00 to $235.00 and gave the company a "positive" rating in a research report on Tuesday, June 2nd. Bank of America lifted their target price on Credo Technology Group from $210.00 to $252.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Craig Hallum reiterated a "buy" rating and issued a $200.00 target price on shares of Credo Technology Group in a report on Tuesday, March 3rd. Roth Mkm increased their price target on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Finally, Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a report on Friday, May 1st. They set a "buy" rating and a $206.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $248.41.

Insiders Place Their Bets

In related news, insider James Laufman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total value of $1,644,100.00. Following the transaction, the insider owned 198,609 shares in the company, valued at approximately $32,653,305.69. This represents a 4.79% decrease in their ownership of the stock. 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 the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $178.99, for a total transaction of $4,922,225.00. Following the transaction, the chief technology officer directly owned 6,024,870 shares in the company, valued at approximately $1,078,391,481.30. The trade was a 0.45% decrease in their position. 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 a total of 348,284 shares of company stock worth $51,616,969 in the last quarter. Corporate insiders own 11.84% 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 AI connectivity strategy continues to draw investor attention, with coverage noting record fiscal 2026 revenue and a possible growth inflection ahead in fiscal 2027 as optical products scale. Can Credo Technology Maintain Revenue Growth Amid the AI Boom?
• Positive Sentiment: Analysts have been raising expectations, with commentary saying CRDO could keep moving higher as earnings estimates rise. Can Credo Technology Group (CRDO) Run Higher on Rising Earnings Estimates?
• Positive Sentiment: A recent upgrade argued that Credo’s high-speed data-center connectivity business remains well positioned to benefit from AI infrastructure spending. Credo Technology: The $3,000-Per-GPU Memory Arbitrage Demands A Strong Buy (Rating Upgrade)
• Neutral Sentiment: 24/7 Wall St. published a price forecast that was essentially flat versus the current share price, suggesting limited near-term upside or downside from that model. Credo Price Prediction and Forecast: This Is Where The Stock Goes From Here
• Neutral Sentiment: Shares also drew attention from unusual call-option buying, which points to bullish speculation but does not confirm a change in fundamentals.
• Negative Sentiment: CEO William Joseph Brennan and Director Sylvia Acevedo sold shares in recent transactions, which may weigh on sentiment even though insider sales are often routine.

Credo Technology Group Trading Up 1.4%

Shares of NASDAQ:CRDO opened at $237.68 on Thursday. The firm has a market cap of $43.84 billion, a price-to-earnings ratio of 95.84, a P/E/G ratio of 1.23 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 1 year low of $68.64 and a 1 year high of $261.38. The business has a fifty day simple moving average of $177.95 and a 200 day simple moving average of $149.16.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The firm 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 company posted $0.20 earnings per share. The business's quarterly revenue was up 157.0% compared to the same quarter last year. On average, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

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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