Mitchell Capital Management Co. Purchases 9,691 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Mitchell Capital Management increased its stake in Credo Technology Group by 126% in the fourth quarter, buying 9,691 additional shares to bring its total holdings to 17,385 shares worth about $2.5 million.
• Credo has seen heavy institutional ownership and significant insider selling recently, with insiders selling 386,608 shares over the last three months while institutions still own 80.46% of the stock.
• The company has posted strong operational results and upbeat outlooks, including revenue growth of 201.5% year over year in its latest quarter, while analysts continue to rate the stock a Buy on average despite its recent run near 52-week highs.

Mitchell Capital Management Co. grew its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 126.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,385 shares of the company's stock after purchasing an additional 9,691 shares during the quarter. Mitchell Capital Management Co.'s holdings in Credo Technology Group were worth $2,502,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Savant Capital LLC raised its position in shares of Credo Technology Group by 0.7% in the third quarter. Savant Capital LLC now owns 9,914 shares of the company's stock valued at $1,444,000 after purchasing an additional 68 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Credo Technology Group by 16.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company's stock valued at $80,000 after purchasing an additional 77 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Credo Technology Group by 0.6% in the third quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company's stock valued at $2,298,000 after purchasing an additional 91 shares during the period. Spirepoint Private Client LLC raised its position in shares of Credo Technology Group by 6.6% in the fourth quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company's stock valued at $243,000 after purchasing an additional 105 shares during the period. Finally, Crewe Advisors LLC raised its position in shares of Credo Technology Group by 163.1% in the fourth 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 period. Institutional investors own 80.46% of the company's stock.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 6,149 shares of Credo Technology Group 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 owned 222,311 shares in the company, valued at $22,553,450.95. The trade was a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $178.99, for a total transaction of $4,922,225.00. Following the sale, the chief technology officer owned 6,024,870 shares in the company, valued at $1,078,391,481.30. This represents a 0.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 386,608 shares of company stock worth $50,371,351 over the last three months. 11.84% of the stock is currently owned by corporate insiders.

Credo Technology Group Trading Up 6.2%

Shares of Credo Technology Group stock opened at $236.03 on Friday. The company's fifty day simple moving average is $158.17 and its 200-day simple moving average is $144.98. The company has a market cap of $43.54 billion, a price-to-earnings 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.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.29. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The business had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. During the same quarter last year, the company posted $0.25 earnings per share. Credo Technology Group's quarterly revenue was up 201.5% on a year-over-year basis. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current fiscal year.

Credo Technology Group News Roundup

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 firms have recently commented on CRDO. Roth Mkm dropped their price target on shares of Credo Technology Group from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Stifel Nicolaus set a $250.00 price objective on shares of Credo Technology Group in a research note on Wednesday. Jefferies Financial Group initiated coverage on shares of Credo Technology Group in a research note on Monday, April 13th. They issued a "buy" rating and a $175.00 price objective on the stock. Zacks Research upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. Finally, Rothschild & Co Redburn initiated 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. Two research 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 company. According to data from MarketBeat.com, Credo Technology Group has an average rating of "Buy" and an average price target of $210.65.

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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