Teacher Retirement System of Texas Buys 198,826 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Teacher Retirement System of Texas boosted its Credo stake by 486.2%, acquiring 198,826 shares to hold 239,721 shares (about 0.13% of the company) valued at roughly $34.49 million.
• Credo is pursuing an AI‑connectivity push — including a proposed ~$750M acquisition of DustPhotonics and the OmniConnect/224G PAM4 SerDes IP rollout — which helped spark heavy momentum (the stock rose ~34% in a week) and increased visibility at TSMC events.
• Insider activity shows notable selling: the CEO sold 50,000 shares and the CTO 27,500, with insiders selling 401,499 shares (~$47.8M) in the last quarter and now owning 11.84% of the stock.

Teacher Retirement System of Texas raised its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 486.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 239,721 shares of the company's stock after acquiring an additional 198,826 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.13% of Credo Technology Group worth $34,493,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRDO. Bank of America Corp DE lifted its holdings in shares of Credo Technology Group by 161.5% during 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 acquiring an additional 1,406,752 shares during the period. Rafferty Asset Management LLC bought a new position in shares of Credo Technology Group during the third quarter valued at $183,553,000. Alliancebernstein L.P. lifted its holdings in shares of Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock valued at $283,778,000 after acquiring an additional 1,218,504 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Credo Technology Group by 18.3% during the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company's stock valued at $1,121,118,000 after acquiring 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 in the last quarter. 80.46% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO William Joseph Brennan sold 50,000 shares of the firm's stock in a transaction dated 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. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of the firm's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $127.37, for a total value of $3,502,675.00. Following the completion of the transaction, the chief technology officer owned 6,299,870 shares in the company, valued at approximately $802,414,441.90. This represents a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 401,499 shares of company stock worth $47,775,895. 11.84% of the stock is owned by company insiders.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Proposed DustPhotonics acquisition and OmniConnect platform push — Credo unveiled its OmniConnect “Weaver” solution and 224G PAM4 SerDes IP at TSMC and advanced a proposed ~$750M purchase of silicon‑photonics specialist DustPhotonics, signaling a move toward a vertically integrated AI connectivity stack; the report credits this combo for a sharp intraday jump. Credo (CRDO) Is Up 12.6% After DustPhotonics Deal And New AI Connectivity Platform Push
• Positive Sentiment: Bullish analysis: “AI comeback” thesis — A Seeking Alpha piece argues the DustPhotonics deal and optics exposure remove the main bear case, calling Credo a full‑stack connectivity play with runway if AEC and optics markets accelerate. Credo's AI Comeback Is Just Getting Started
• Positive Sentiment: TSMC symposium visibility — Credo is presenting next‑gen connectivity for AI infrastructure at TSMC’s 2026 Technology Symposium (North America and other events), increasing visibility with foundry/hyperscaler ecosystems. Credo to Highlight Next-Generation Connectivity Solutions for AI Infrastructure at TSMC 2026 Technology Symposium
• Positive Sentiment: Company media coverage of TSMC symposium — Additional reporting highlights Credo’s product showcases at TSMC, reinforcing the messaging around SerDes, optical integration and customer outreach. Credo to Highlight Next-Generation Connectivity Solutions for AI Infrastructure at TSMC 2026 Technology Symposium
• Positive Sentiment: Strong recent momentum — Zacks notes CRDO rose ~34% in one week, signaling heavy momentum interest that can amplify moves on catalyst news. Credo Technology Group Holding Ltd. (CRDO) Is Up 34.37% in One Week: What You Should Know
• Positive Sentiment: Analyst/sector recognition — Zacks also lists CRDO among top-ranked AI‑infrastructure names, which can attract institutional flows if AI data‑center spend stays strong. 5 Top-Ranked AI Infrastructure Bigwigs for Sparkling Returns in 2026
• Neutral Sentiment: Market commentary (Cramer) — A CNBC/Benzinga piece references “stocks that got away” in a broader segment; it’s not specific to Credo and is unlikely to be a direct price driver. Cramer Names 'The Stocks That Got Away' — SanDisk Is Number 1
• Neutral Sentiment: Competitive signals — Coverage of Astera Labs’ strong demand highlights broader AI‑connectivity competition; useful context but not direct Credo news. ALAB Rides on Strong Aries and Taurus Demand: A Sign for More Upside?

Credo Technology Group Stock Down 2.1%

Credo Technology Group stock opened at $185.54 on Friday. The business's 50-day simple moving average is $120.68 and its 200 day simple moving average is $138.33. The stock has a market cap of $34.22 billion, a price-to-earnings ratio of 103.08 and a beta of 2.72. Credo Technology Group Holding Ltd. has a 12-month low of $40.17 and a 12-month high of $213.80.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (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 quarterly revenue was up 201.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 earnings per share. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of research reports. Zacks Research lowered Credo Technology Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Weiss Ratings restated a "hold (c)" rating on shares of Credo Technology Group in a research note on Friday, March 27th. Needham & Company LLC restated a "buy" rating and issued a $220.00 target price on shares of Credo Technology Group in a research note on Wednesday, April 15th. Mizuho lowered their target price on Credo Technology Group from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, March 3rd. Finally, Jefferies Financial Group initiated coverage on Credo Technology Group in a research note on Monday, April 13th. They issued a "buy" rating and a $175.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $207.81.

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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