Victory Capital Management Inc. Sells 414,594 Shares of Credo Technology Group Holding Ltd. $CRDO

Victory Capital Management Inc. lessened its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 63.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 241,437 shares of the company’s stock after selling 414,594 shares during the quarter. Victory Capital Management Inc.’s holdings in Credo Technology Group were worth $35,156,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Credo Technology Group by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 16,525,380 shares of the company’s stock worth $2,406,261,000 after buying an additional 150,012 shares during the last quarter. JPMorgan Chase & Co. grew its position in Credo Technology Group by 18.3% in 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 last quarter. Geode Capital Management LLC raised its stake in Credo Technology Group by 4.7% during the second quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock worth $334,740,000 after acquiring an additional 163,305 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after acquiring an additional 1,218,504 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 worth $61,235,000 after acquiring an additional 589,151 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CRDO shares. Rosenblatt Securities decreased their price target on shares of Credo Technology Group from $170.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Bank of America boosted their target price on shares of Credo Technology Group from $165.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Stifel Nicolaus set a $200.00 price target on shares of Credo Technology Group in a report on Tuesday, March 3rd. New Street Research set a $240.00 price target on Credo Technology Group in a research note on Tuesday, December 2nd. Finally, Barclays reissued an “overweight” rating and set a $260.00 price objective on shares of Credo Technology Group in a report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $206.33.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Big Q3 beat — Credo reported a blowout quarter with revenue up ~201% year-over-year, a solid EPS beat and strong margins, giving a fundamental growth story that supports higher valuations. Earnings/Reaction
• Positive Sentiment: M&A and partnerships broaden AI/data-center exposure — the CoMira acquisition and a TensorWave tie-up expand Credo’s connectivity IP and go-to-market for advanced AI racks, strengthening the company’s growth runway. CoMira Deal
• Positive Sentiment: Industry tailwinds and vendor positioning — Broadcom’s public tilt toward copper-based connectivity helped lift Credo, since its products align with that trend. Broadcom Signal
• Positive Sentiment: Analyst support and rising estimates — JPMorgan maintained an Overweight view and several outlets note upward revisions to earnings estimates and sizable average price-target upside, which can underpin medium-term upside. JPMorgan Note
• Neutral Sentiment: Short-interest reporting looks unreliable — recent short-interest posts show zero shares/NaN changes and a 0.0 days-to-cover metric, which likely reflects a data/reporting issue rather than meaningful short activity. (Internal short-interest entries)
• Negative Sentiment: Analyst downgrades and lowered expectations — multiple firms (including Rosenblatt, Susquehanna, Mizuho and others) have trimmed forecasts or expressed caution; those moves triggered a sharp gap down and a prior one-day ~15% sell-off. Downgrade/Share Drop
• Negative Sentiment: Post-earnings volatility and risk callouts — several pieces highlight that while results were strong, valuation sensitivity and execution risks could keep the stock choppy in the near term. Volatility Discussion

Credo Technology Group Price Performance

Shares of CRDO opened at $109.83 on Monday. The business has a 50-day moving average of $129.70 and a 200-day moving average of $143.41. The company has a market capitalization of $20.26 billion, a price-to-earnings ratio of 61.02 and a beta of 2.67. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business had revenue of $407.01 million for the quarter, compared to analysts’ expectations of $385.94 million. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue was up 201.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Buying and Selling

In other news, CEO William Joseph Brennan sold 18,016 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $127.69, for a total transaction of $2,300,463.04. Following the completion of the sale, the chief executive officer directly owned 252,625 shares in the company, valued at $32,257,686.25. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sylvia Acevedo sold 2,200 shares of Credo Technology Group stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $159.18, for a total transaction of $350,196.00. Following the transaction, the director directly owned 18,545 shares of the company’s stock, valued at $2,951,993.10. This represents a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 861,101 shares of company stock worth $126,611,953. Corporate insiders own 11.84% of the company’s stock.

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.