Granahan Investment Management LLC Boosts Stake in Credo Technology Group Holding Ltd. $CRDO

Granahan Investment Management LLC raised its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 9.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 91,770 shares of the company’s stock after acquiring an additional 7,845 shares during the period. Granahan Investment Management LLC’s holdings in Credo Technology Group were worth $13,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC boosted its holdings in shares of Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. Acumen Wealth Advisors LLC purchased a new position in shares of Credo Technology Group in the 4th quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new position in shares of Credo Technology Group in the 4th quarter worth about $32,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Credo Technology Group in the 4th quarter worth about $36,000. Finally, Van ECK Associates Corp purchased a new stake in Credo Technology Group during the 4th quarter valued at about $37,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the sale, the chief financial officer owned 501,873 shares in the company, valued at approximately $125,207,276.04. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $259.53, for a total value of $7,137,075.00. Following the completion of the transaction, the chief technology officer directly owned 5,992,370 shares of the company’s stock, valued at $1,555,199,786.10. This represents a 0.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 389,384 shares of company stock worth $66,025,968. Insiders own 11.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRDO shares. Mizuho increased their target price on Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Roth Mkm increased their target price on Credo Technology Group from $200.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Needham & Company LLC increased their target price on Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a report on Monday, June 1st. Rosenblatt Securities increased their target price on Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Finally, Bank of America increased their target price on Credo Technology Group from $210.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.41.

Key Credo Technology Group News

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

• Positive Sentiment: Recent coverage remains upbeat on Credo’s growth story, pointing to strong AI connectivity demand, expanding optical product opportunities, and improving margins as reasons the stock has been bid higher. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Positive Sentiment: Analyst commentary also stayed constructive, including Mizuho reiterating an Outperform rating with a $290 target, reinforcing expectations that Credo can keep growing rapidly as AI networking spending expands. Mizuho Reiterates Outperform on Credo Technology Group Holding Ltd (CRDO)
• Positive Sentiment: Several articles framed Credo as a standout momentum stock and asked whether it can reach $300 by year-end, which adds to the bullish sentiment around the name. Can Credo Hit $300 By Year-End?
• Neutral Sentiment: CEO/CFO-related insider selling of 40,000 shares was disclosed, but it was done under a pre-arranged 10b5-1 plan and for tax withholding tied to equity vesting, making it less likely to be read as a negative signal on fundamentals. SEC Form 4 filing
• Negative Sentiment: After a huge rally, some commentary warned that CRDO’s valuation is getting stretched, so the stock could pull back if earnings growth, customer ramps, or margin expansion slow. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Credo Technology Group Stock Performance

NASDAQ CRDO opened at $239.18 on Wednesday. Credo Technology Group Holding Ltd. has a fifty-two week low of $77.79 and a fifty-two week high of $270.21. The stock has a 50 day simple moving average of $190.37 and a two-hundred day simple moving average of $152.06. The stock has a market cap of $44.12 billion, a P/E ratio of 96.44, a price-to-earnings-growth ratio of 1.36 and a beta of 3.22.

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

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.