Intech Investment Management LLC Acquires 18,002 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Intech Investment Management boosted its Credo Technology Group stake by 26.3% in the fourth quarter, adding 18,002 shares to reach 86,372 shares worth about $12.4 million.
• Insider selling has been notable, including CTO Chi Fung Cheng’s sale of 27,500 shares and CEO William Joseph Brennan’s sale of 6,149 shares; insiders sold 386,608 shares over the last 90 days.
• Credo remains a favorite with analysts, carrying an average “Buy” rating and a consensus target price of $210.65, while the company also reported strong quarterly results with revenue up 201.5% year over year.

Intech Investment Management LLC increased its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 26.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,372 shares of the company's stock after purchasing an additional 18,002 shares during the period. Intech Investment Management LLC's holdings in Credo Technology Group were worth $12,428,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company's stock valued at $284,000 after acquiring an additional 3,972 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Credo Technology Group by 63.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after acquiring an additional 589,151 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Credo Technology Group by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company's stock valued at $12,480,000 after acquiring an additional 7,107 shares during the last quarter. CW Advisors LLC bought a new position in Credo Technology Group during the second quarter valued at $288,000. Finally, EverSource Wealth Advisors LLC increased its position in Credo Technology Group by 198.2% during the second quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock valued at $46,000 after acquiring an additional 333 shares during the last quarter. Institutional investors own 80.46% of the company's stock.

Insider Activity at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 27,500 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $178.99, for a total transaction of $4,922,225.00. Following the completion of the sale, the chief technology officer directly owned 6,024,870 shares of the company's stock, valued at approximately $1,078,391,481.30. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 6,149 shares of the business's stock in a transaction on Sunday, April 5th. The shares were sold at an average price of $101.45, for a total transaction of $623,816.05. Following the sale, the chief executive officer directly owned 222,311 shares of the company's stock, valued at $22,553,450.95. This represents a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 386,608 shares of company stock valued at $50,371,351 over the last ninety days. Company insiders own 11.84% of the company's stock.

Trending Headlines about 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?

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $220.00 price objective on shares of Credo Technology Group in a research report on Wednesday, April 15th. Craig Hallum reiterated a "buy" rating and set a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Jefferies Financial Group assumed coverage on shares of Credo Technology Group in a research report on Monday, April 13th. They set a "buy" rating and a $175.00 price objective on the stock. Rosenblatt Securities boosted their price objective on shares of Credo Technology Group from $125.00 to $175.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. Finally, Rothschild & Co Redburn assumed coverage on shares of Credo Technology Group in a research report on Friday, May 1st. They set a "buy" rating and a $206.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $210.65.

Credo Technology Group Trading Up 6.2%

Shares of CRDO opened at $236.03 on Friday. The firm has a market capitalization of $43.54 billion, a P/E ratio of 131.13 and a beta of 3.17. Credo Technology Group Holding Ltd. has a 12-month low of $59.21 and a 12-month high of $240.81. The firm 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 issued its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.29. The firm had revenue of $407.01 million during the quarter, compared to analyst estimates 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 revenue was up 201.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. Analysts predict that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

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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