Credo Technology Group Holding Ltd. $CRDO Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG cut its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 21.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 126,149 shares of the company’s stock after selling 33,851 shares during the period. Raiffeisen Bank International AG’s holdings in Credo Technology Group were worth $18,282,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CRDO. Northwestern Mutual Wealth Management Co. grew its position in Credo Technology Group by 16.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock worth $80,000 after acquiring an additional 77 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Credo Technology Group by 0.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company’s stock worth $2,298,000 after buying an additional 91 shares during the period. Spirepoint Private Client LLC boosted its holdings in shares of Credo Technology Group by 6.6% during the 4th quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company’s stock worth $243,000 after buying an additional 105 shares during the period. Crewe Advisors LLC boosted its holdings in shares of Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after buying an additional 106 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Credo Technology Group by 14.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 861 shares of the company’s stock worth $125,000 after buying an additional 111 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRDO has been the subject of several recent analyst reports. Weiss Ratings raised shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Rosenblatt Securities upped their target price on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. TD Cowen upped their target price on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Susquehanna upped their target price on shares of Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC upped their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.41.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $264.76 on Friday. Credo Technology Group Holding Ltd. has a 52-week low of $70.78 and a 52-week high of $268.18. The stock has a market cap of $48.83 billion, a price-to-earnings ratio of 106.76, a P/E/G ratio of 1.25 and a beta of 3.22. The firm has a fifty day moving average of $181.36 and a 200-day moving average of $150.09.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The company had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The business’s revenue was up 157.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 EPS. On average, sell-side analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In related news, Director Fariba Danesh sold 1,100 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $236.34, for a total transaction of $259,974.00. Following the completion of the sale, the director owned 7,017 shares in the company, valued at $1,658,397.78. This trade represents a 13.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sylvia Acevedo sold 2,208 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $211.00, for a total transaction of $465,888.00. Following the sale, the director owned 16,337 shares of the company’s stock, valued at $3,447,107. This trade represents a 11.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 376,884 shares of company stock worth $59,014,018 over the last ninety days. Company insiders own 11.84% of the company’s stock.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, strengthening its optical connectivity portfolio and adding silicon photonics capabilities that could benefit demand for 800G, 1.6T, and 3.2T AI networking solutions. Credo Technology (CRDO) Completes Acquisition of DustPhotonics to Expand Optical Connectivity Portfolio
• Positive Sentiment: Multiple recent commentaries highlighted Credo as a top-ranked or bullish stock idea, reflecting continued investor enthusiasm around its AI infrastructure exposure. 3 Top Ranked Stocks Investors Can Buy Right Now
• Positive Sentiment: Analyst commentary after the latest earnings report pointed to strong revenue growth, earnings beats, and higher price targets, reinforcing the market’s optimistic view of CRDO’s growth trajectory. Can Credo Technology Group (CRDO) Run Higher on Rising Earnings Estimates?
• Neutral Sentiment: Insider selling by Director Fariba Danesh and CTO Chi Fung Cheng may create some caution, but the CTO sale was tied to tax withholding on vested equity awards and appears more routine than a fundamental warning sign. Credo Technology Group (NASDAQ:CRDO) Director Fariba Danesh Sells 1,100 Shares
• Neutral Sentiment: Some coverage noted ongoing customer concentration risk, although Credo is trying to diversify into NeoCloud and broader customer relationships over time. Credo’s Diversification Push: Can It Cut Customer Concentration Risk?

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.