GW&K Investment Management LLC Grows Stock Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• GW&K Investment Management nearly doubled its stake in Credo Technology Group in the fourth quarter, buying an additional 200,494 shares to bring its total to 401,678 shares worth about $57.8 million.
• Several Wall Street firms raised their price targets on CRDO after the company’s strong performance, with the consensus target now at $248.41 and the stock carrying an overall Moderate Buy rating.
• Credo reported better-than-expected quarterly results, including EPS of $1.16 on revenue of $437 million, while the stock has also been boosted by strong AI-related demand and a sharp recent share-price run-up.

GW&K Investment Management LLC increased its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 99.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 401,678 shares of the company's stock after buying an additional 200,494 shares during the period. GW&K Investment Management LLC owned 0.22% of Credo Technology Group worth $57,798,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC boosted its holdings 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. Flagship Harbor Advisors LLC bought a new position in shares of Credo Technology Group during the fourth quarter valued at $32,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Credo Technology Group in the 4th quarter worth about $36,000. Smartleaf Asset Management LLC boosted its stake in Credo Technology Group by 133.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 257 shares of the company's stock worth $38,000 after purchasing an additional 147 shares in the last quarter. Finally, Quarry LP boosted its stake in Credo Technology Group by 642.5% in the 3rd quarter. Quarry LP now owns 297 shares of the company's stock worth $43,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Traders bought more call options than usual, signaling bullish expectations for further upside in Credo Technology Group.
• Positive Sentiment: Recent commentary noted that CRDO has surged about 78% in three months, reflecting strong AI-driven demand and continued investor enthusiasm for the stock. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Another analysis said Credo remains one of the standout semiconductor names, outperforming the broader industry, sector, and the S&P 500 over the last quarter. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Neutral Sentiment: A market wrap-up article mentioned Credo as one of the stocks advancing during Tuesday’s session, but the main driver was broader market volatility rather than company-specific news. Stock Market Today: Nasdaq Ends Off Steeper Loss, Dow Rises After Downturn; Credo Technology Advances
• Neutral Sentiment: Insider selling by the CEO and a director may be weighing on sentiment somewhat, but these sales were relatively routine and do not necessarily signal a change in fundamentals.

Analysts Set New Price Targets

A number of research firms have weighed in on CRDO. Susquehanna raised their price objective 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. Jefferies Financial Group increased their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Needham & Company LLC raised their price target 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. Weiss Ratings upgraded shares of Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Finally, Rosenblatt Securities upped 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $248.41.

Insiders Place Their Bets

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the firm's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $103.19, for a total value of $2,837,725.00. Following the transaction, the chief technology officer directly owned 6,162,370 shares of the company's stock, valued at approximately $635,894,960.30. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $218.57, for a total value of $12,017,852.88. Following the sale, the chief executive officer owned 367,327 shares of the company's stock, valued at approximately $80,286,662.39. This represents a 13.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 348,284 shares of company stock worth $51,616,969. Company insiders own 11.84% of the company's stock.

Credo Technology Group Stock Up 5.4%

CRDO opened at $234.32 on Wednesday. The stock has a market capitalization of $43.22 billion, a price-to-earnings ratio of 94.48, a PEG ratio of 1.44 and a beta of 3.22. The firm has a 50 day moving average price of $174.95 and a 200-day moving average price of $148.44. Credo Technology Group Holding Ltd. has a twelve month low of $66.75 and a twelve month high of $252.70.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its 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. The company had revenue of $437.00 million for the quarter, compared to analysts' expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The firm's quarterly revenue was up 157.0% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. As a group, analysts expect that Credo Technology Group Holding Ltd. will post 3.93 earnings per share for the current year.

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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