Handelsbanken Fonder AB Has $36.43 Million Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Handelsbanken Fonder AB cut its Credo Technology position by 51.8% in the second quarter, selling 143,730 shares and retaining 133,970 shares worth approximately $36.4 million. Institutional investors collectively own 80.46% of the company.
• Credo reported strong quarterly performance, with revenue rising 157% year over year to $437 million and EPS of $1.16, beating analyst expectations. Its OmniConnect interconnect technology is also being contributed to the Open Compute Project, potentially expanding its role in AI data-center infrastructure.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $266.17. However, company insiders have sold about $101 million of shares over the past 90 days, while the stock trades at a high P/E ratio near 100.

Handelsbanken Fonder AB lowered its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 51.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,970 shares of the company's stock after selling 143,730 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.07% of Credo Technology Group worth $36,433,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. acquired a new stake in Credo Technology Group in the second quarter worth about $243,000. Wealthcare Advisory Partners LLC raised its holdings in Credo Technology Group by 3.0% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 3,458 shares of the company's stock worth $940,000 after purchasing an additional 101 shares during the last quarter. Bay Rivers Group lifted its position in Credo Technology Group by 126.3% during the 2nd quarter. Bay Rivers Group now owns 4,884 shares of the company's stock valued at $1,328,000 after purchasing an additional 2,726 shares during the period. World Equity Group Inc. acquired a new position in Credo Technology Group during the 2nd quarter valued at about $478,000. Finally, Legacy Wealth Asset Management LLC bought a new position in shares of Credo Technology Group in the 2nd quarter valued at about $748,000. Institutional investors and hedge funds 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: Credo will contribute its OmniConnect scale-in interconnect solution to the Open Compute Project, targeting the “memory wall” challenge in AI inference. Standardization could broaden adoption of Credo’s connectivity technology across AI data-center systems. Credo to Contribute OmniConnect Scale-In Interconnect Solution to the Open Compute Project
• Positive Sentiment: Analyst and industry commentary continues to highlight Credo as a beneficiary of accelerating AI infrastructure demand, including the expected ramp of AMD’s Helios rack-scale systems and broader spending on high-speed interconnects and optical components. AMD’s Helios Launch Could Create Winners Beyond AMD Stock
• Positive Sentiment: Recent investment commentary argues that AI expansion remains in its early stages and that Credo’s connectivity products could benefit from rising data-center bandwidth requirements. Additional coverage points to stronger demand and growing investor awareness of the company. Credo: Don’t Get Left Behind, AI Expansion Is Just Beginning
• Neutral Sentiment: Credo scheduled its fiscal first-quarter 2027 earnings conference call for September 1, covering the quarter ended August 1. The announcement itself contains no financial results, but the upcoming report may become the next major catalyst for the stock. Credo Schedules First Quarter Fiscal Year 2027 Financial Results Conference Call
• Neutral Sentiment: The newly launched Aura VettaFi Photonics Index ETF provides broader exposure to AI optics and photonics companies. This may improve sector visibility, but the report does not identify a direct investment or inclusion effect for Credo. New Aura VettaFi Photonics Index ETF Targets AI Optics Infrastructure
• Negative Sentiment: The reported short-interest data shows zero shares short and a zero-day short-interest ratio, with an invalid percentage change. Because the figures appear erroneous or incomplete, they provide no reliable bearish or bullish signal.

Credo Technology Group Trading Up 3.2%

Shares of CRDO opened at $247.69 on Wednesday. The stock has a market cap of $46.19 billion, a P/E ratio of 99.88, a price-to-earnings-growth ratio of 1.10 and a beta of 3.23. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67. The stock's 50-day moving average price is $238.08 and its two-hundred day moving average price is $176.08.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly 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 analysts' expectations of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.Credo Technology Group's revenue was up 157.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. As a group, equities analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Credo Technology Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Bank of America increased their price objective on shares of Credo Technology Group from $252.00 to $340.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Rothschild & Co Redburn started coverage on shares of Credo Technology Group in a research note on Friday, May 1st. They issued a "buy" rating and a $206.00 price objective on the stock. Mizuho lifted their target price on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group upped their target price on shares of Credo Technology Group from $225.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $266.17.

Insider Activity

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 501,873 shares of the company's stock, valued at approximately $125,207,276.04. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, CEO William Joseph Brennan sold 54,984 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the sale, the chief executive officer owned 367,327 shares in the company, valued at approximately $80,286,662.39. This trade represents a 13.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 435,076 shares of company stock worth $101,043,506 in the last ninety days. Company insiders own 11.84% of the company's stock.

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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