Fjarde AP Fonden Fourth Swedish National Pension Fund Has $6.18 Million Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Fjarde AP Fonden sharply increased its stake in Credo Technology Group by 93.1% in the first quarter, ending with 65,850 shares worth about $6.18 million.
• Credo reported strong quarterly results, including $1.16 EPS versus the $1.02 estimate and revenue of $437 million, up 157% year over year.
• Sentiment remains mixed: several analysts raised price targets and one target now reaches $340, but insiders also sold shares recently, including the CFO and CTO through pre-arranged trading plans.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 93.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,850 shares of the company's stock after purchasing an additional 31,750 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Credo Technology Group were worth $6,181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC raised its stake in shares of Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after buying an additional 106 shares in the last quarter. Reflection Asset Management acquired a new stake in Credo Technology Group during the 4th quarter valued at $25,000. Acumen Wealth Advisors LLC bought a new position in shares of Credo Technology Group in the fourth quarter valued at about $25,000. Flagship Harbor Advisors LLC acquired a new position in shares of Credo Technology Group during the fourth quarter worth approximately $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Credo Technology Group during the 4th quarter worth $36,000. 80.46% of the stock is currently owned by institutional investors.

Insider Transactions at Credo Technology Group

In other 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 directly owned 6,134,870 shares in the company, valued at approximately $725,448,377.50. This represents a 0.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 40,000 shares of Credo Technology Group stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the sale, the chief financial officer directly owned 501,873 shares in the company, valued at $125,207,276.04. The trade was a 7.38% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 363,372 shares of company stock worth $76,926,125. Corporate insiders own 11.84% of the company's stock.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $241.91 on Monday. The stock has a fifty day moving average price of $220.92 and a 200-day moving average price of $160.57. The company has a market cap of $45.11 billion, a price-to-earnings ratio of 97.54, a PEG ratio of 1.11 and a beta of 3.20. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted 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 net margin of 35.37% and a return on equity of 32.30%. The business had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. During the same quarter last year, the business posted $0.20 EPS. The firm's revenue for the quarter was up 157.0% on a year-over-year basis. Research analysts predict 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 DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo's Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group NASDAQ: CRDO Stock

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America lifted their price target on shares of Credo Technology Group from $252.00 to $340.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Rosenblatt Securities upped their price target on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a "neutral" rating in a report on Tuesday, June 2nd. The Goldman Sachs Group reiterated a "buy" rating and set a $250.00 price objective on shares of Credo Technology Group in a report on Tuesday, June 2nd. Susquehanna lifted their price target on shares of Credo Technology Group from $200.00 to $235.00 and gave the company a "positive" rating in a research note on Tuesday, June 2nd. Finally, Roth Mkm boosted their price target on Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $263.11.

Credo Technology Group 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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