Hillsdale Investment Management Inc. Trims Stake in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Hillsdale Investment Management cut its stake in Credo Technology Group by 48.5% in the fourth quarter, selling 38,000 shares and leaving it with 40,310 shares valued at about $5.8 million.
• Institutional ownership in CRDO remains high, with 80.46% of shares held by hedge funds and other institutional investors. Several large firms, including Bank of America, JPMorgan Chase, and Marshall Wace, have recently boosted their positions.
• Despite the stake reduction, sentiment around Credo remains upbeat: analysts still rate the stock a Buy on average, and the company has been benefiting from strong AI/data-center demand after completing its acquisition of DustPhotonics.

Hillsdale Investment Management Inc. trimmed its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 48.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,310 shares of the company's stock after selling 38,000 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Credo Technology Group were worth $5,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in shares of Credo Technology Group by 161.5% in the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock worth $331,710,000 after purchasing an additional 1,406,752 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Credo Technology Group in the 3rd quarter worth about $183,553,000. Alliancebernstein L.P. boosted its holdings in shares of Credo Technology Group by 66.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock worth $283,778,000 after purchasing an additional 1,218,504 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Credo Technology Group by 18.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company's stock worth $1,121,118,000 after purchasing an additional 1,190,522 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Credo Technology Group by 2,537.7% in the 3rd quarter. Marshall Wace LLP now owns 1,150,000 shares of the company's stock worth $167,452,000 after purchasing an additional 1,106,401 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

More Credo Technology Group News

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?

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CRDO. Rothschild & Co Redburn began coverage on Credo Technology Group in a report on Friday, May 1st. They issued a "buy" rating and a $206.00 price objective for the company. The Goldman Sachs Group upped their price objective on Credo Technology Group from $150.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Roth Mkm cut their price objective on Credo Technology Group from $250.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. Stifel Nicolaus set a $250.00 price objective on Credo Technology Group in a report on Wednesday. Finally, Mizuho cut their price objective on Credo Technology Group from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Credo Technology Group currently has an average rating of "Buy" and a consensus target price of $210.65.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $236.03 on Friday. The stock has a market capitalization of $43.54 billion, a PE ratio of 131.13 and a beta of 3.17. Credo Technology Group Holding Ltd. has a 1-year low of $59.21 and a 1-year high of $240.81. The business has a 50-day moving average of $158.17 and a 200 day moving average of $144.98.

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

Insider Buying and Selling

In related news, CEO William Joseph Brennan sold 6,149 shares of the stock in a transaction dated Sunday, April 5th. The stock was sold at an average price of $101.45, for a total transaction of $623,816.05. Following the completion of the sale, the chief executive officer directly owned 222,311 shares in the company, valued at $22,553,450.95. This represents a 2.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $178.99, for a total value of $4,922,225.00. Following the sale, the chief technology officer owned 6,024,870 shares of the company's stock, valued at $1,078,391,481.30. This represents a 0.45% 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. Over the last quarter, insiders have sold 386,608 shares of company stock valued at $50,371,351. 11.84% of the stock is owned by insiders.

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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