Pictet Asset Management Holding SA Raises Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Pictet Asset Management boosted its stake in Credo by 364.6% in Q4 to 100,179 shares (about $14.4M), representing roughly 0.06% ownership of the company.
• Credo beat expectations for the quarter with EPS of $1.07 vs. $0.78 and revenue of $407.0M vs. $385.9M, with revenue up 201.5% year‑over‑year and a net margin of 31.81%.
• Insiders sold 359,108 shares (≈$45.45M) in the past three months even as institutional investors own 80.46% of the stock and analysts maintain a "Moderate Buy" consensus target of $207.71.

Pictet Asset Management Holding SA boosted its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 364.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,179 shares of the company's stock after purchasing an additional 78,615 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Credo Technology Group worth $14,415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in shares of Credo Technology Group by 128.4% in the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company's stock worth $284,000 after acquiring an additional 3,972 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Credo Technology Group by 63.0% in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Credo Technology Group by 2.3% in 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 period. CW Advisors LLC purchased a new position in Credo Technology Group in the second quarter worth about $288,000. Finally, EverSource Wealth Advisors LLC boosted its position in Credo Technology Group by 198.2% in the second quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock worth $46,000 after purchasing an additional 333 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $184.38 on Friday. Credo Technology Group Holding Ltd. has a one year low of $45.65 and a one year high of $213.80. The company's fifty day moving average price is $125.98 and its 200-day moving average price is $139.49. The company has a market capitalization of $34.01 billion, a price-to-earnings ratio of 102.43 and a beta of 3.17.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.29. The business had revenue of $407.01 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 201.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. Equities research analysts expect that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRDO has been the subject of several research reports. Barclays reaffirmed an "overweight" rating and set a $260.00 price target on shares of Credo Technology Group in a research report on Thursday, January 15th. Zacks Research lowered shares of Credo Technology Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Weiss Ratings cut shares of Credo Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, April 24th. Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a research report on Friday. They issued a "buy" rating and a $206.00 price target on the stock. Finally, Roth Mkm cut their price objective on shares of Credo Technology Group from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Credo Technology Group has an average rating of "Moderate Buy" and a consensus target price of $207.71.

Insider Activity at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 7,580 shares of the business's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $152.63, for a total value of $1,156,935.40. Following the transaction, the chief financial officer directly owned 433,678 shares of the company's stock, valued at approximately $66,192,273.14. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Tung Lam sold 3,180 shares of the company's stock in a transaction that occurred on Sunday, April 5th. The stock was sold at an average price of $101.45, for a total value of $322,611.00. Following the completion of the transaction, the chief operating officer owned 2,610,329 shares of the company's stock, valued at $264,817,877.05. The trade was a 0.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 359,108 shares of company stock worth $45,449,126 in the last three months. Corporate insiders own 11.84% of the company's stock.

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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