EULAV Asset Management Makes New $16.88 Million Investment in Credo Technology Group Holding Ltd. $CRDO

Key Points

• EULAV Asset Management acquired 86,632 Credo shares worth approximately $16.88 million in the third quarter. Institutional investors collectively own 80.46% of the company.
• Credo reported strong quarterly results, with revenue up 114.7% year over year to $479 million and EPS of $1.20, beating consensus estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $262.67.
• Despite its growth prospects, Credo faces risks from a demanding valuation, competition in the 1.6-terabit cable market and substantial insider selling. Shares opened at $147.29, well below their 52-week high of $308.67.

EULAV Asset Management acquired a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 86,632 shares of the company's stock, valued at approximately $16,875,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its stake in Credo Technology Group by 13.7% during the second quarter. Bank of America Corp DE now owns 2,182,764 shares of the company's stock valued at $593,603,000 after buying an additional 262,479 shares in the last quarter. Atreides Management LP raised its position in Credo Technology Group by 3.5% in the second quarter. Atreides Management LP now owns 1,129,285 shares of the company's stock worth $307,109,000 after acquiring an additional 38,052 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Credo Technology Group by 192.1% in the first quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company's stock worth $98,290,000 after acquiring an additional 688,596 shares in the last quarter. H&H International Investment LLC lifted its holdings in Credo Technology Group by 431.6% in the 1st quarter. H&H International Investment LLC now owns 751,200 shares of the company's stock valued at $70,515,000 after acquiring an additional 609,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Credo Technology Group by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 703,122 shares of the company's stock valued at $65,949,000 after acquiring an additional 3,501 shares during the last quarter. Institutional investors own 80.46% of the company's stock.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Cheng sold 27,500 shares of the company's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $193.93, for a total transaction of $5,333,075.00. Following the completion of the sale, the chief technology officer directly owned 5,662,397 shares of the company's stock, valued at approximately $1,098,108,650.21. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 55,441 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $213.02, for a total transaction of $11,810,041.82. Following the completion of the transaction, the chief operating officer owned 2,529,169 shares of the company's stock, valued at approximately $538,763,580.38. The trade was a 2.15% 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. Insiders sold a total of 457,952 shares of company stock worth $90,919,736 in the last three months. 9.06% of the stock is currently owned by company insiders.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo was upgraded to Buy after reporting record quarterly revenue of $479 million, up 115% year over year, and non-GAAP EPS of $1.20 versus the $1.17 consensus. The company maintained gross margins near 50%, raised guidance and has a strong balance sheet with self-funded growth tied to hyperscale AI data centers. Credo rating upgrade article
• Positive Sentiment: Analysts remain broadly constructive, with a “Moderate Buy” consensus and an average price target of $262.67. Credo’s planned optical-cable products, which could use about 30% less power than copper alternatives, may provide another growth engine when shipments begin in 2027.
• Neutral Sentiment: Despite the selloff, the company’s valuation remains demanding, with a price-to-earnings ratio above 50. This leaves CRDO particularly sensitive to changes in AI infrastructure spending, interest rates and expectations for future growth.
• Negative Sentiment: MaxLinear management said it is targeting 20%–30% of the 1.6-terabit active electrical cable market over the next several years, challenging Credo’s dominant position. Third-party data also points to limited near-term adoption of 1.6T cables, raising concerns about the pace of Credo’s next growth phase. Credo competition and 1.6T adoption article
• Negative Sentiment: CEO William Brennan sold 16,666 shares for about $2.9 million, and CTO Chi Fung Cheng sold 27,500 shares for about $4.7 million. Both sales were made under pre-arranged Rule 10b5-1 plans and represent small ownership reductions, but repeated insider selling may weigh on sentiment. Credo insider sale filing

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $147.29 on Monday. The stock has a market capitalization of $27.68 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 0.59 and a beta of 3.25. The stock's fifty day simple moving average is $195.54 and its 200 day simple moving average is $208.06. Credo Technology Group Holding Ltd. has a 52-week low of $86.49 and a 52-week high of $308.67.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. The company had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. During the same period in the previous year, the firm earned $0.52 earnings per share. Credo Technology Group's revenue for the quarter was up 114.7% compared to the same quarter last year. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRDO shares. JPMorgan Chase & Co. reduced their price objective on shares of Credo Technology Group from $335.00 to $310.00 and set an "overweight" rating for the company in a research report on Wednesday, September 2nd. Weiss Ratings cut shares of Credo Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Rosenblatt Securities reiterated a "neutral" rating and issued a $235.00 target price on shares of Credo Technology Group in a report on Thursday, October 15th. Evercore set a $292.00 target price on shares of Credo Technology Group in a research note on Wednesday, September 2nd. Finally, Zacks Research cut shares of Credo Technology Group from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $262.67.

Credo Technology Group Profile

Credo Technology Group Holding Ltd. is a fabless semiconductor and connectivity solutions company that develops high-speed data-infrastructure technologies. Its products are designed to help data centers and communications networks move large volumes of information with lower power consumption and improved signal integrity.

The company's portfolio includes serializer/deserializer (SerDes) intellectual property, application-specific integrated circuits, active electrical cables, optical digital signal processors and related connectivity platforms.

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