Strs Ohio Boosts Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Strs Ohio increased its stake in Credo Technology Group by 16.6% in the first quarter, buying an additional 4,700 shares and bringing its total holdings to 33,000 shares worth about $3.1 million.
• Insider selling picked up, with Director Fariba Danesh and CFO Daniel W. Fleming both selling shares in June; the company said Fleming’s sale was tied to tax withholding under a pre-arranged trading plan.
• Credo reported strong quarterly results, posting earnings and revenue above estimates, with revenue jumping 157% year over year; analysts remain broadly bullish, with a consensus rating of “Buy” and an average target price of $263.11.

Strs Ohio boosted its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 16.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,000 shares of the company's stock after purchasing an additional 4,700 shares during the quarter. Strs Ohio's holdings in Credo Technology Group were worth $3,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRDO. Crewe Advisors LLC grew its holdings in shares of Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after buying an additional 106 shares in the last quarter. Reflection Asset Management purchased a new position in shares of Credo Technology Group during the fourth quarter valued at approximately $25,000. Acumen Wealth Advisors LLC purchased a new position in shares of Credo Technology Group during the fourth quarter valued at approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in Credo Technology Group during the fourth quarter worth approximately $32,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Credo Technology Group in the 4th quarter worth approximately $36,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Credo Technology Group

In related news, Director Fariba Danesh sold 1,100 shares of Credo Technology Group stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $236.34, for a total value of $259,974.00. Following the transaction, the director owned 7,017 shares in the company, valued at approximately $1,658,397.78. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel W. Fleming sold 40,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following 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 position. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders sold 363,372 shares of company stock worth $76,926,125. 11.84% of the stock is currently owned by company insiders.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Analysts and market commentary highlighted Credo’s retimer business as hitting an inflection point, with growing demand for 100G and 200G per lane solutions tied to AI networking needs and new design wins. CRDO's Retimer Business Hits Its Stride: Further Gains Ahead?
• Positive Sentiment: Credo was also included in a bullish AI hardware theme, with coverage suggesting investors can look beyond Nvidia to names benefiting from broader chip-supply-chain demand. Forget NVIDIA: Buy These 4 AI Hardware Stocks for Bigger Gains
• Positive Sentiment: Separate commentary noted Credo as one of the standout gainers in semiconductor stocks, indicating momentum in the broader chip sector is helping sentiment. Credo Leads Rebound For Semiconductor Stocks
• Positive Sentiment: Another article argued Credo remains attractive due to its strong AI-stock positioning and backing from large institutional holders such as BlackRock, while noting a higher price target from Bank of America. What Makes Credo Technology Group (CRDO) Appear So Attractive
• Neutral Sentiment: Recent comparison pieces versus Marvell Technology and a Zacks featured-highlights article add visibility, but they are more commentary than direct catalysts. Credo Technology Group vs. Marvell Technology: Which Technology Stock Is a Better Buy in 2026? Zacks.com featured highlights include Micron Technology, Credo Technology and TD SYNNEX

Credo Technology Group Price Performance

CRDO stock traded down $27.27 on Tuesday, hitting $238.28. 1,254,375 shares of the company were exchanged, compared to its average volume of 7,812,566. Credo Technology Group Holding Ltd. has a twelve month low of $86.49 and a twelve month high of $308.67. The business's fifty day moving average is $222.52 and its two-hundred day moving average is $161.46. The stock has a market capitalization of $44.43 billion, a price-to-earnings ratio of 96.39, a price-to-earnings-growth ratio of 1.11 and a beta of 3.20.

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

Wall Street Analyst Weigh In

CRDO has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on Credo Technology Group from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, June 2nd. TD Cowen lifted their price objective on Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Evercore initiated coverage on Credo Technology Group in a research report on Monday, June 22nd. They issued an "outperform" rating and a $325.00 price objective for the company. Rothschild & Co Redburn started coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a "buy" rating and a $206.00 target price for the company. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $250.00 target price on shares of Credo Technology Group in a research report on Tuesday, June 2nd. 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $263.11.

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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