Empowered Funds LLC Increases Stake in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Empowered Funds LLC nearly doubled its Credo Technology Group stake by buying 13,187 additional shares in the first quarter, bringing its holdings to 26,965 shares valued at approximately $2.53 million. Institutional investors collectively own 80.46% of CRDO.
• Credo reported a strong quarter, with revenue rising 157% year over year to $437 million and EPS of $1.16 beating estimates. Despite this momentum and AI infrastructure exposure, shares recently traded down 5.6% and carry a high price-to-earnings ratio of 90.58.
• Insiders have been selling shares under pre-arranged Rule 10b5-1 plans, including the COO’s $11.8 million sale and the CFO’s $1.86 million sale; insiders sold $101 million worth of stock over the past three months. Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $266.17.

Empowered Funds LLC boosted its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 95.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,965 shares of the company's stock after buying an additional 13,187 shares during the quarter. Empowered Funds LLC's holdings in Credo Technology Group were worth $2,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its holdings in Credo Technology Group by 239,024.5% in the fourth 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 period. Amundi grew its stake in Credo Technology Group by 28,478.2% during the 4th quarter. Amundi now owns 1,559,796 shares of the company's stock worth $224,439,000 after purchasing an additional 1,554,338 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Credo Technology Group by 841.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company's stock worth $228,979,000 after purchasing an additional 1,422,391 shares during the period. Bank of America Corp DE raised its position 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 valued at $331,710,000 after purchasing an additional 1,406,752 shares in the last quarter. Finally, Alliancebernstein L.P. boosted 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 buying an additional 1,218,504 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insider Activity

In related news, COO Yat Tung Lam sold 55,441 shares of the business's 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 transaction, the chief operating officer owned 2,529,169 shares in the company, valued at $538,763,580.38. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of the business's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total value of $1,863,770.40. Following the completion of the transaction, the chief financial officer owned 504,708 shares in the company, valued at $124,097,603.04. This trade represents a 1.48% 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 three months, insiders sold 435,076 shares of company stock valued at $101,043,506. Insiders own 11.84% of the company's stock.

Credo Technology Group Trading Down 5.6%

Shares of CRDO opened at $224.63 on Thursday. The company's 50 day simple moving average is $236.99 and its 200-day simple moving average is $173.45. The firm has a market cap of $41.89 billion, a PE ratio of 90.58, a price-to-earnings-growth ratio of 1.09 and a beta of 3.23. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The firm 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 firm earned $0.20 EPS. Credo Technology Group's revenue for the quarter was up 157.0% on a year-over-year basis. As a group, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s interconnect products for AI memory and storage, showcased at Flash Memory Summit 2026, are aimed at data-center applications requiring higher bandwidth and efficient data movement. The product expansion reinforces the company’s exposure to ongoing AI infrastructure spending. Credo Technology Group Showcased AI Interconnects
• Positive Sentiment: Market commentary continues to identify CRDO as a beneficiary of AI-led photonics and connectivity demand. Bullish views point to expanding optical products, strong revenue targets and potential for additional long-term growth. Buy These 2 High-Flying AI-Led Photonics Stocks
• Neutral Sentiment: Credo has delivered exceptional operating momentum, including revenue growth of 157% year over year and an earnings beat in its latest reported quarter. However, analysts and investors are debating whether that growth is sufficient to support the stock’s premium valuation after its substantial rally. A long-term price prediction article highlights significant upside potential but stresses that several execution and market assumptions must materialize. Credo Price Prediction for 2030
• Negative Sentiment: Zacks Research downgraded Credo from “strong buy” to “hold,” adding to concerns that expectations may already be priced into the shares. Commentary also flags customer concentration and execution risks as potential challenges for the AI connectivity growth story. Zacks Research Credo Coverage
• Negative Sentiment: Recent SEC filings show CTO Chi Fung Cheng sold 27,473 shares for approximately $5.8 million, while COO Yat Tung Lam sold a combined 105,441 shares worth about $22.5 million. The transactions were made under pre-arranged Rule 10b5-1 plans, and both executives retain sizable stakes, but the sales may still encourage profit-taking after the stock’s strong advance. SEC Form 4 COO Sales

Analysts Set New Price Targets

CRDO has been the topic of a number of recent research reports. Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a research note on Friday, May 1st. They set a "buy" rating and a $206.00 target price on the stock. Wall Street Zen downgraded shares of Credo Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Evercore started coverage on shares of Credo Technology Group in a report on Monday, June 22nd. They set an "outperform" rating and a $325.00 price target for the company. Needham & Company LLC increased their price objective 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. Finally, TD Cowen raised their price objective on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $266.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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