Daiwa Securities Group Inc. Increases Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Daiwa Securities Group increased its stake in Credo Technology Group by 413.2% in the fourth quarter, ending with 17,820 shares valued at about $2.56 million.
• Wall Street analysts remain broadly bullish on CRDO, with multiple firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target price of $248.41.
• Credo posted strong quarterly results, beating EPS estimates and reporting 157% year-over-year revenue growth, even as insiders, including the CEO, sold shares in recent transactions.

Daiwa Securities Group Inc. lifted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 413.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,820 shares of the company's stock after buying an additional 14,348 shares during the period. Daiwa Securities Group Inc.'s holdings in Credo Technology Group were worth $2,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRDO. Crewe Advisors LLC boosted its stake in shares of Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after buying an additional 106 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Credo Technology Group in the 4th quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Credo Technology Group in the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its stake in shares of Credo Technology Group by 133.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 257 shares of the company's stock worth $38,000 after buying an additional 147 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Credo Technology Group by 642.5% in the 3rd quarter. Quarry LP now owns 297 shares of the company's stock worth $43,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Rothschild & Co Redburn assumed coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a "buy" rating and a $206.00 target price on the stock. The Goldman Sachs Group reiterated a "buy" rating and issued a $250.00 price objective on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Susquehanna upped their price objective on Credo Technology Group from $200.00 to $235.00 and gave the company a "positive" rating in a research note on Tuesday, June 2nd. TD Cowen upped their price objective on Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a research note 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 research note 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 assigned a Hold rating to the company. Based on data from MarketBeat, Credo Technology Group currently has an average rating of "Moderate Buy" and a consensus target price of $248.41.

Credo Technology Group News Roundup

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

• Positive Sentiment: Traders bought more call options than usual, signaling bullish expectations for further upside in Credo Technology Group.
• Positive Sentiment: Recent commentary noted that CRDO has surged about 78% in three months, reflecting strong AI-driven demand and continued investor enthusiasm for the stock. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Another analysis said Credo remains one of the standout semiconductor names, outperforming the broader industry, sector, and the S&P 500 over the last quarter. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Neutral Sentiment: A market wrap-up article mentioned Credo as one of the stocks advancing during Tuesday’s session, but the main driver was broader market volatility rather than company-specific news. Stock Market Today: Nasdaq Ends Off Steeper Loss, Dow Rises After Downturn; Credo Technology Advances
• Neutral Sentiment: Insider selling by the CEO and a director may be weighing on sentiment somewhat, but these sales were relatively routine and do not necessarily signal a change in fundamentals.

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 54,984 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the sale, the chief executive officer owned 367,327 shares in the company, valued at $80,286,662.39. This represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $178.99, for a total value of $4,922,225.00. Following the sale, the chief technology officer owned 6,024,870 shares in the company, valued at approximately $1,078,391,481.30. This represents a 0.45% 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. Over the last quarter, insiders have sold 348,284 shares of company stock valued at $51,616,969. 11.84% of the stock is currently owned by corporate insiders.

Credo Technology Group Stock Performance

Shares of CRDO opened at $234.32 on Wednesday. The business has a 50-day moving average of $174.95 and a 200 day moving average of $148.44. Credo Technology Group Holding Ltd. has a fifty-two week low of $66.75 and a fifty-two week high of $252.70. The firm has a market cap of $43.22 billion, a P/E ratio of 94.48, a price-to-earnings-growth ratio of 1.44 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same quarter last year, the firm posted $0.20 EPS. The firm's revenue for the quarter was up 157.0% on a year-over-year basis. As a group, research analysts predict that Credo Technology Group Holding Ltd. will post 3.93 earnings per share for the current fiscal 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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