Robbins Farley Has $1.19 Million Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Robbins Farley more than doubled its stake in Credo Technology Group in the first quarter, buying 6,521 additional shares to bring its total to 12,677 shares worth about $1.19 million.
• Credo also saw heavy insider selling: CFO Daniel W. Fleming and Director Sylvia Acevedo both sold shares recently, and insiders have sold 389,384 shares worth about $70.0 million over the last 90 days.
• Analyst sentiment remains bullish, with several firms raising price targets; the consensus rating is Moderate Buy and the average target price is $258.22, while the stock recently traded above $300 after strong earnings and revenue growth.

Robbins Farley lifted its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 105.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,677 shares of the company's stock after purchasing an additional 6,521 shares during the quarter. Robbins Farley's holdings in Credo Technology Group were worth $1,190,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CRDO. Crewe Advisors LLC raised its stake in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after buying an additional 106 shares during the period. Reflection Asset Management acquired a new stake in Credo Technology Group in the fourth quarter valued at approximately $25,000. Acumen Wealth Advisors LLC acquired a new stake in Credo Technology Group in the fourth quarter valued at approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in Credo Technology Group in the fourth quarter valued at approximately $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Credo Technology Group during the fourth quarter valued at approximately $36,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 40,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 501,873 shares of the company's stock, valued at approximately $125,207,276.04. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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, Director Sylvia Acevedo sold 2,208 shares of Credo Technology Group stock in a transaction on Friday, June 5th. The stock was sold at an average price of $211.00, for a total value of $465,888.00. Following the sale, the director owned 16,337 shares in the company, valued at $3,447,107. This trade represents a 11.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 389,384 shares of company stock worth $70,041,518. Company insiders own 11.84% of the company's stock.

Analysts Set New Price Targets

CRDO has been the topic of a number of research reports. Mizuho upped their target price on Credo Technology Group from $260.00 to $290.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 2nd. Roth Mkm boosted their price target on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Weiss Ratings upgraded shares of Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Needham & Company LLC upped their price objective on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a report on Monday, June 1st. Finally, Rosenblatt Securities raised their price objective on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a "neutral" rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $258.22.

Credo Technology Group News Summary

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

• Positive Sentiment: Evercore ISI initiated coverage with an Outperform rating and a $325 price target, calling Wall Street too conservative on Credo’s long-term opportunity as it expands beyond copper into AI networking infrastructure. Evercore Says Wall Street Is 40% Too Low on Credo
• Positive Sentiment: Stifel also raised its price target on CRDO to $350 and reiterated a Buy rating, adding to the bullish analyst momentum. Why Is Credo Technology Stock Soaring Monday?
• Positive Sentiment: Investors are also responding to Credo’s strong recent operating results, including sharply higher revenue, solid profitability, and management’s upbeat outlook tied to AI data-center demand and optical growth. Credo Stock Spikes To Record High On Bullish Reports
• Neutral Sentiment: The stock has been setting record highs as traders continue to price in Credo’s expansion into high-speed interconnect products, including optical solutions that could broaden its AI infrastructure market opportunity.

Credo Technology Group Price Performance

NASDAQ CRDO opened at $302.52 on Tuesday. The company has a fifty day moving average price of $203.74 and a 200-day moving average price of $154.84. The firm has a market cap of $56.41 billion, a price-to-earnings ratio of 121.98, a PEG ratio of 1.43 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 1 year low of $81.72 and a 1 year high of $308.67.

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

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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