Kornitzer Capital Management Inc. KS Has $4.63 Million Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Kornitzer Capital Management increased its stake in Credo Technology Group by 55% in the first quarter, bringing its holdings to 49,295 shares valued at about $4.63 million.
• Insider selling was notable, with CTO Chi Fung Cheng and CEO William Joseph Brennan both selling shares in recent transactions; insiders have sold about $81.3 million of stock over the past 90 days.
• Credo’s stock fell 3.0% on the day to $257.79, but the company recently posted strong quarterly results, including EPS of $1.16 and revenue up 157% year over year, while analysts still rate it a Buy on average.

Kornitzer Capital Management Inc. KS raised its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 55.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,295 shares of the company's stock after acquiring an additional 17,500 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Credo Technology Group were worth $4,627,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC lifted its holdings in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. Reflection Asset Management bought a new stake in Credo Technology Group during the fourth quarter worth about $25,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth approximately $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $259.53, for a total value of $7,137,075.00. Following the transaction, the chief technology officer directly owned 5,992,370 shares of the company's stock, valued at approximately $1,555,199,786.10. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $218.57, for a total value of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at approximately $80,286,662.39. This trade represents a 13.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 367,162 shares of company stock worth $81,338,911 over the last ninety days. Company insiders own 11.84% of the company's stock.

Credo Technology Group Trading Down 3.0%

Shares of Credo Technology Group stock traded down $7.86 during midday trading on Friday, reaching $257.79. The company had a trading volume of 3,963,791 shares, compared to its average volume of 8,897,760. The company has a market capitalization of $48.07 billion, a price-to-earnings ratio of 103.95, a price-to-earnings-growth ratio of 1.18 and a beta of 3.20. The stock has a fifty day simple moving average of $228.75 and a 200 day simple moving average of $164.56. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The firm's quarterly revenue was up 157.0% on a year-over-year basis. Sell-side analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRDO. Weiss Ratings raised Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Stifel Nicolaus lifted their price objective on Credo Technology Group from $250.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Rothschild & Co Redburn started coverage on 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. Roth Capital increased their target price on Credo Technology Group from $200.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Finally, Needham & Company LLC raised their target price on Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Two 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. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $263.11.

More Credo Technology Group News

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

• Positive Sentiment: Recent commentary remains bullish on Credo’s role in AI data-center infrastructure, highlighting strong demand for its high-speed connectivity products, expanding margins, and rapid revenue growth. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Positive Sentiment: Another recent piece emphasized Credo’s exposure to AI “toll roads,” including its active electrical cables and 1.6T interconnects, which are reportedly used in major hyperscaler training clusters and point to continued long-term growth. Credo: Strong AI-Led Growth Proposition
• Neutral Sentiment: Short interest fell sharply in June, which may ease some bearish pressure, but a separate July update showed no meaningful short-interest data change. Credo Technologies Accelerates AI—Its Stock Price Will Follow
• Neutral Sentiment: CTO Chi Fung Cheng sold shares in recent days under a pre-arranged Rule 10b5-1 plan, which is generally viewed as routine, but repeated insider sales can still weigh on investor sentiment. Credo's CTO Sold 31,290 Shares. His Remaining $1.6 Billion Stake Tells the Real Story
• Negative Sentiment: The stock also faced some headwinds from a broader chip-sector selloff, adding to near-term volatility in semiconductor names. Chip Stocks Join in Broad Selloff

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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