Diversify Wealth Management LLC Has $4.33 Million Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Diversify Wealth Management LLC increased its stake in Credo Technology Group by 1,240% in Q1, ending with 46,150 shares valued at about $4.33 million.
• Credo continues to draw strong interest from institutional investors, with firms like Vanguard, State Street, and Geode holding large positions; institutions collectively own 80.46% of the stock.
• The company has been benefiting from bullish AI/data-center demand and strong earnings, while analysts remain positive overall with a Buy consensus and average price target of $263.11.

Diversify Wealth Management LLC grew its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 1,240.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,150 shares of the company's stock after purchasing an additional 42,706 shares during the quarter. Diversify Wealth Management LLC's holdings in Credo Technology Group were worth $4,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Credo Technology Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company's stock worth $2,386,449,000 after buying an additional 59,849 shares during the last quarter. State Street Corp grew its holdings 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 acquiring an additional 849,654 shares during the period. Geode Capital Management LLC raised its position in shares of 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 in the last quarter. Corient Private Wealth LLC raised its position in shares of 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 worth $517,835,000 after acquiring an additional 3,597,318 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Credo Technology Group by 66.0% in the 2nd 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. Institutional investors and hedge funds own 80.46% of the company's stock.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Recent commentary remains bullish on Credo’s role in AI data-center infrastructure, highlighting strong demand for its high-speed connectivity products, expanding margins, and rapid revenue growth. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Positive Sentiment: Another recent piece emphasized Credo’s exposure to AI “toll roads,” including its active electrical cables and 1.6T interconnects, which are reportedly used in major hyperscaler training clusters and point to continued long-term growth. Credo: Strong AI-Led Growth Proposition
• Neutral Sentiment: Short interest fell sharply in June, which may ease some bearish pressure, but a separate July update showed no meaningful short-interest data change. Credo Technologies Accelerates AI—Its Stock Price Will Follow
• Neutral Sentiment: CTO Chi Fung Cheng sold shares in recent days under a pre-arranged Rule 10b5-1 plan, which is generally viewed as routine, but repeated insider sales can still weigh on investor sentiment. Credo's CTO Sold 31,290 Shares. His Remaining $1.6 Billion Stake Tells the Real Story
• Negative Sentiment: The stock also faced some headwinds from a broader chip-sector selloff, adding to near-term volatility in semiconductor names. Chip Stocks Join in Broad Selloff

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $257.79 on Monday. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67. The business has a 50 day moving average price of $228.75 and a 200-day moving average price of $164.67. The company has a market cap of $48.07 billion, a PE ratio of 103.95, a price-to-earnings-growth ratio of 1.18 and a beta of 3.20.

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

Insider Buying and Selling

In related news, Director Fariba Danesh sold 1,100 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $236.34, for a total transaction of $259,974.00. Following the transaction, the director directly owned 7,017 shares of the company's stock, valued at $1,658,397.78. This trade represents a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel W. Fleming sold 40,000 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the transaction, the chief financial officer owned 501,873 shares in the company, valued at approximately $125,207,276.04. This trade represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 367,162 shares of company stock valued at $81,338,911 over the last 90 days. 11.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRDO has been the subject of several recent analyst reports. Bank of America raised their target price on Credo Technology Group from $252.00 to $340.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. raised their price objective on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 2nd. Evercore began coverage on shares of Credo Technology Group in a research note on Monday, June 22nd. They issued an "outperform" rating and a $325.00 price objective for the company. Finally, Needham & Company LLC boosted their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $263.11.

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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