Legal & General Group Plc Grows Position in Credo Technology Group Holding Ltd. $CRDO

Legal & General Group Plc grew its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 191.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 494,383 shares of the company’s stock after purchasing an additional 324,569 shares during the quarter. Legal & General Group Plc owned approximately 0.27% of Credo Technology Group worth $71,137,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Prospera Financial Services Inc boosted its stake in shares of Credo Technology Group by 87.6% during the fourth quarter. Prospera Financial Services Inc now owns 3,681 shares of the company’s stock valued at $530,000 after purchasing an additional 1,719 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Credo Technology Group by 33.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,783 shares of the company’s stock valued at $400,000 after purchasing an additional 702 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Credo Technology Group by 5,358.7% during the fourth quarter. Global Retirement Partners LLC now owns 4,094 shares of the company’s stock valued at $589,000 after purchasing an additional 4,019 shares during the period. Sierra Summit Advisors LLC purchased a new stake in shares of Credo Technology Group during the fourth quarter valued at approximately $448,000. Finally, IFP Advisors Inc boosted its stake in shares of Credo Technology Group by 15.9% during the fourth quarter. IFP Advisors Inc now owns 6,684 shares of the company’s stock valued at $962,000 after purchasing an additional 919 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

Credo Technology Group Stock Up 6.2%

Shares of CRDO stock opened at $236.03 on Friday. The stock has a fifty day moving average of $158.17 and a 200 day moving average of $144.98. Credo Technology Group Holding Ltd. has a 52 week low of $59.21 and a 52 week high of $240.81. The firm has a market capitalization of $43.54 billion, a price-to-earnings ratio of 131.13 and a beta of 3.17.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $407.01 million during the quarter, compared to analyst estimates of $385.94 million. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue was up 201.5% on a year-over-year basis. Equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings raised Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Rosenblatt Securities increased their price objective on Credo Technology Group from $125.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Mizuho dropped their price objective 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. Susquehanna dropped their price objective on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research note on Tuesday, March 3rd. Finally, Stifel Nicolaus set a $250.00 price target on Credo Technology Group in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $210.65.

Insiders Place Their Bets

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $178.99, for a total value of $4,922,225.00. Following the completion of the transaction, the chief technology officer owned 6,024,870 shares in the company, valued at approximately $1,078,391,481.30. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $152.63, for a total value of $1,156,935.40. Following the completion of the transaction, the chief financial officer owned 433,678 shares of the company’s stock, valued at approximately $66,192,273.14. This trade represents a 1.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 386,608 shares of company stock worth $50,371,351. Insiders own 11.84% of the company’s stock.

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.