Lisanti Capital Growth LLC Cuts Holdings in Credo Technology Group Holding Ltd. $CRDO

Lisanti Capital Growth LLC reduced its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 24.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,576 shares of the company’s stock after selling 9,795 shares during the period. Lisanti Capital Growth LLC’s holdings in Credo Technology Group were worth $4,400,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Credo Technology Group by 9.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock worth $39,004,000 after buying an additional 23,332 shares during the period. Optimize Financial Inc purchased a new position in Credo Technology Group in the third quarter valued at about $1,431,000. Estate Counselors LLC purchased a new position in Credo Technology Group in the third quarter valued at about $2,548,000. M&T Bank Corp raised its position in Credo Technology Group by 428.8% in the fourth quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock valued at $1,932,000 after purchasing an additional 10,888 shares during the period. Finally, FengHe Fund Management Pte. Ltd. raised its position in Credo Technology Group by 5.7% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock valued at $23,349,000 after purchasing an additional 8,769 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Stock Up 12.9%

Shares of Credo Technology Group stock opened at $218.41 on Friday. The firm has a market cap of $40.29 billion, a P/E ratio of 121.34 and a beta of 3.17. Credo Technology Group Holding Ltd. has a fifty-two week low of $59.00 and a fifty-two week high of $218.95. The business has a 50-day moving average price of $146.81 and a 200 day moving average price of $143.06.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.29. The firm had revenue of $407.01 million during the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.Credo Technology Group’s quarterly revenue was up 201.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo was highlighted as an AI infrastructure winner alongside Nvidia, Innodata and Qualcomm, keeping investor focus on its exposure to edge computing and data growth. Zacks Investment Ideas feature highlights: Nvidia, Innodata, Credo Technology and Qualcomm
• Positive Sentiment: Zacks framed CRDO as one of the better alternative AI stocks to Nvidia, suggesting more upside as investors look beyond the mega-cap leader. Has Nvidia Become Too Big? 3 Alternative AI Stocks
• Positive Sentiment: Credo jumped after announcing an AI Factory partnership with Rebellions to integrate ZeroFlap cables into RebelPOD, which could strengthen its position in scalable AI data center builds. AI Factory Partnership With Rebellions Sends Credo’s Shares Up 8%
• Positive Sentiment: Several outlets described Credo as a “Bull of the Day” and a top semiconductor stock with high upside potential, adding to the upbeat sentiment around the shares. Bull of the Day: Credo Technology Group (CRDO)
• Neutral Sentiment: One article compared CRDO with Coherent as an AI connectivity stock, but the piece was more of an industry comparison than a fresh catalyst. CRDO vs. COHR: Which AI Connectivity Stock Is the Better Buy?
• Negative Sentiment: Broader market coverage noted Nvidia weakness and mixed trading in AI names, which could have tempered enthusiasm even as Credo outperformed. Stock Market Today: Dow Up, Nvidia Sinks 2% While Intuit Craters; These AI Companies Thrive (Live Coverage)

Insider Transactions at Credo Technology Group

In related news, insider James Laufman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total value of $1,644,100.00. Following the completion of the sale, the insider directly owned 198,609 shares of the company’s stock, valued at $32,653,305.69. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $178.99, for a total value of $4,922,225.00. Following the completion of the sale, the chief technology officer directly owned 6,024,870 shares of the company’s stock, valued at approximately $1,078,391,481.30. 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. Insiders sold 386,608 shares of company stock valued at $50,371,351 in the last three months. Corporate insiders own 11.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CRDO. Jefferies Financial Group began coverage on Credo Technology Group in a research report on Monday, April 13th. They issued a “buy” rating and a $175.00 price objective on the stock. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Mizuho dropped their target price on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Roth Mkm dropped their target price on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Weiss Ratings lowered Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Two 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, Credo Technology Group has a consensus rating of “Buy” and an average price target of $207.71.

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.