Revisor Wealth Management LLC Buys 5,709 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Revisor Wealth Management increased its stake in Credo Technology Group by 151.5% in the first quarter, buying 5,709 additional shares and bringing its total holding to 9,477 shares worth about $890,000.
• Credo reported a strong quarter, with EPS of $1.16 topping estimates and revenue of $437 million rising 157% year over year. The company also posted strong profitability metrics, including a 32.3% return on equity and a 35.37% net margin.
• Analyst sentiment remains upbeat, with several firms raising price targets and the stock carrying a consensus Buy rating and average target price of $263.11. However, insider selling has continued, including CFO Daniel W. Fleming’s sale of 40,000 shares and CTO Chi Fung Cheng’s sale of 27,500 shares.

Revisor Wealth Management LLC boosted its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 151.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,477 shares of the company's stock after purchasing an additional 5,709 shares during the quarter. Revisor Wealth Management LLC's holdings in Credo Technology Group were worth $890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $80,000 after purchasing an additional 77 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Credo Technology Group by 1.7% in the first quarter. QRG Capital Management Inc. now owns 5,402 shares of the company's stock worth $507,000 after buying an additional 91 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Credo Technology Group by 2.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company's stock valued at $741,000 after buying an additional 100 shares during the last quarter. Spirepoint Private Client LLC boosted its stake in Credo Technology Group by 6.6% during the fourth quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company's stock valued at $243,000 after buying an additional 105 shares during the last quarter. Finally, Crewe Advisors LLC grew 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 buying an additional 106 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

Insider Activity

In related news, CFO Daniel W. Fleming sold 40,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the sale, the chief financial officer owned 501,873 shares in the company, valued at approximately $125,207,276.04. This represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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, CTO Chi Fung Cheng sold 27,500 shares of the firm's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $118.25, for a total value of $3,251,875.00. Following the completion of the sale, the chief technology officer owned 6,134,870 shares of the company's stock, valued at approximately $725,448,377.50. This represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 390,872 shares of company stock valued at $79,763,850. 11.84% of the stock is currently owned by insiders.

Credo Technology Group Stock Performance

CRDO opened at $241.91 on Friday. The firm has a market cap of $45.11 billion, a P/E ratio of 97.54, a P/E/G ratio of 1.11 and a beta of 3.20. Credo Technology Group Holding Ltd. has a 12 month low of $86.49 and a 12 month high of $308.67. The stock has a 50-day moving average of $220.92 and a 200 day moving average of $160.44.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. The business had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company's quarterly revenue was up 157.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. On average, research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

More Credo Technology Group News

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo's Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group NASDAQ: CRDO Stock

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Evercore assumed coverage on Credo Technology Group in a research note on Monday, June 22nd. They issued an "outperform" rating and a $325.00 price objective on the stock. Stifel Nicolaus increased their target price 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. Needham & Company LLC raised their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a report on Monday, June 1st. The Goldman Sachs Group restated a "buy" rating and issued a $250.00 price target on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group boosted their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $263.11.

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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