Fideuram Asset Management Ireland dac Makes New Investment in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Fideuram Asset Management Ireland opened a new position in Credo Technology Group in the fourth quarter, buying 9,493 shares worth about $1.43 million.
• Institutional interest in CRDO remains strong, with 80.46% of shares owned by institutions even as several other funds also added to or initiated positions.
• Despite recent insider sales by the CEO and CTO, Wall Street remains bullish: analysts generally rate the stock “Buy” and set an average price target of $210.65.

Fideuram Asset Management Ireland dac bought a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,493 shares of the company's stock, valued at approximately $1,432,000.

Other large investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC grew its position in Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after acquiring an additional 106 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Credo Technology Group in the third quarter worth $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter worth $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter worth $36,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Credo Technology Group by 133.6% in the third 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. 80.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 27,500 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the completion of the transaction, the chief technology officer directly owned 6,272,370 shares in the company, valued at $737,630,712. This represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Joseph Brennan sold 50,000 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares of the company's stock, valued at approximately $209,764,835.36. The trade was a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 386,608 shares of company stock valued at $50,371,351. Corporate insiders own 11.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRDO. The Goldman Sachs Group boosted their price objective on shares of Credo Technology Group from $150.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Stifel Nicolaus set a $250.00 price objective on shares of Credo Technology Group in a research note on Wednesday. Roth Mkm reduced their price objective on shares of Credo Technology Group from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. Jefferies Financial Group began coverage on shares of Credo Technology Group in a research note on Monday, April 13th. They issued a "buy" rating and a $175.00 price objective for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $220.00 price objective on shares of Credo Technology Group in a research note on Wednesday, April 15th. Two 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 stock has an average rating of "Buy" and an average price target of $210.65.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $236.03 on Friday. The stock has a market cap of $43.54 billion, a P/E ratio of 131.13 and a beta of 3.17. Credo Technology Group Holding Ltd. has a one year low of $59.21 and a one year high of $240.81. The company has a fifty day moving average price of $158.17 and a 200 day moving average price of $144.98.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. The firm had revenue of $407.01 million during the quarter, compared to analysts' expectations of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The business's quarterly revenue was up 201.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. NASDAQ: CRDO Receives Consensus Recommendation of "Buy" from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

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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