National Pension Service Takes $38.82 Million Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• National Pension Service disclosed a new fourth-quarter stake in Credo Technology Group, buying 269,813 shares valued at about $38.82 million. The fund now owns roughly 0.15% of the company.
• Institutional interest in CRDO remains heavy, with several large investors recently boosting positions and institutions collectively holding about 80.46% of the stock. At the same time, some insiders have sold shares, including the CEO and CTO.
• Analysts are still broadly bullish on Credo Technology Group, with a consensus rating of Buy and an average price target of about $210.65. The company also beat last quarter’s expectations, reporting $1.07 EPS and $407.01 million in revenue, while the stock trades near its 52-week high.

National Pension Service acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 269,813 shares of the company's stock, valued at approximately $38,823,000. National Pension Service owned 0.15% of Credo Technology Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRDO. Bank of America Corp DE increased its stake in shares of Credo Technology Group by 161.5% in the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock valued at $331,710,000 after buying an additional 1,406,752 shares during the period. Rafferty Asset Management LLC acquired a new position in shares of Credo Technology Group in the third quarter valued at approximately $183,553,000. Alliancebernstein L.P. increased its stake in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock valued at $283,778,000 after buying an additional 1,218,504 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Credo Technology Group by 18.3% in the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company's stock valued at $1,121,118,000 after buying an additional 1,190,522 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Credo Technology Group by 2,537.7% in the third quarter. Marshall Wace LLP now owns 1,150,000 shares of the company's stock valued at $167,452,000 after buying an additional 1,106,401 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRDO shares. Jefferies Financial Group assumed coverage on Credo Technology Group in a research note on Monday, April 13th. They issued a "buy" rating and a $175.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 target price on shares of Credo Technology Group in a report on Wednesday, April 15th. Stifel Nicolaus set a $250.00 target price on Credo Technology Group in a report on Wednesday. Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Finally, Roth Mkm reduced their target price on Credo Technology Group from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. Two 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. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $210.65.

Insider Buying and Selling

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the transaction, the chief technology officer directly owned 6,272,370 shares in the company, valued at approximately $737,630,712. This represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Joseph Brennan sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at $209,764,835.36. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 386,608 shares of company stock worth $50,371,351 over the last 90 days. Company insiders own 11.84% of the company's stock.

Key Stories Impacting 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?

Credo Technology Group Price Performance

Shares of CRDO stock opened at $236.03 on Monday. The business's 50 day simple moving average is $158.17 and its 200 day simple moving average is $144.80. Credo Technology Group Holding Ltd. has a one year low of $59.21 and a one year high of $240.81. The stock has a market capitalization of $43.54 billion, a PE ratio of 131.13 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. The business had revenue of $407.01 million for 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%.The firm's revenue was up 201.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, research analysts expect that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

About Credo Technology Group

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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