Engineers Gate Manager LP Sells 61,916 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Engineers Gate Manager LP cut its Credo Technology Group stake by 33% in the fourth quarter, selling 61,916 shares and ending with 125,532 shares valued at about $18.1 million.
• Credo posted strong fiscal Q1/FY results, with EPS of $1.16 beating estimates and revenue of $437 million, up 157% year over year. The company also continues to benefit from demand tied to AI infrastructure and optical networking.
• Analyst sentiment remains bullish, with several firms raising targets and Mizuho reiterating an Outperform rating while lifting its price target to $290. The stock has already surged sharply and was trading near $249, close to its 52-week high.

Engineers Gate Manager LP decreased its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 33.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,532 shares of the company's stock after selling 61,916 shares during the quarter. Engineers Gate Manager LP owned 0.07% of Credo Technology Group worth $18,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC lifted its position in 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. Acumen Wealth Advisors LLC bought a new stake in Credo Technology Group in the 4th quarter worth approximately $25,000. Flagship Harbor Advisors LLC bought a new stake in Credo Technology Group in the 4th quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC bought a new stake in Credo Technology Group in the 4th quarter worth approximately $36,000. Finally, Van ECK Associates Corp bought a new stake in Credo Technology Group in the 4th quarter worth approximately $37,000. Institutional investors 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: Credo’s blockbuster FY26 results and strong guidance continue to fuel bullish sentiment, with investors focused on rapid revenue growth, earnings beats, and momentum in AI connectivity. Credo Technology Group Holding (CRDO) Is Up 21.2% After Earnings Beat And DustPhotonics Deal - What's Changed
• Positive Sentiment: Analysts and media coverage remain constructive, highlighting Credo’s exposure to AI infrastructure spending, optical networking growth, and improving margins, which supports the stock’s rally. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Positive Sentiment: Mizuho reiterated an Outperform rating and lifted its price target to $290, adding to the bullish analyst backdrop after the earnings report. Mizuho Reiterates Outperform on Credo Technology Group Holding Ltd (CRDO)
• Neutral Sentiment: CFO Daniel Fleming sold 40,000 shares under a pre-arranged 10b5-1 plan tied to tax withholding on vested equity awards, which is not usually viewed as a negative signal on fundamentals. SEC Form 4 filing
• Neutral Sentiment: Some recent commentary suggests the valuation is becoming stretched after a major run-up, so investors may be watching closely for continued execution in margins, customer ramps, and guidance. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Credo Technology Group Stock Up 4.2%

Shares of Credo Technology Group stock opened at $249.33 on Thursday. The company has a market cap of $46.50 billion, a PE ratio of 100.54, a P/E/G ratio of 1.26 and a beta of 3.22. The business has a 50 day moving average of $193.31 and a 200 day moving average of $152.66. Credo Technology Group Holding Ltd. has a 52 week low of $80.60 and a 52 week high of $270.21.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced 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. The company had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The firm's revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. On average, research analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRDO has been the subject of several recent research reports. Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Stifel Nicolaus set a $250.00 price objective on Credo Technology Group in a research report on Wednesday, May 27th. Rosenblatt Securities boosted their price objective on Credo Technology Group from $175.00 to $215.00 and gave the company a "neutral" rating in a research report on Tuesday, June 2nd. Roth Mkm boosted their price objective on Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Finally, Needham & Company LLC boosted their price objective on Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $248.41.

Insiders Place Their Bets

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $118.25, for a total value of $3,251,875.00. Following the completion of the transaction, the chief technology officer owned 6,134,870 shares in the company, valued at approximately $725,448,377.50. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 40,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the transaction, the chief financial officer owned 501,873 shares of the company's stock, valued at approximately $125,207,276.04. This trade represents a 7.38% decrease in their position. 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. Over the last 90 days, insiders sold 389,384 shares of company stock worth $66,025,968. 11.84% of the stock is owned by corporate insiders.

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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