Oaktree Capital Management LP Invests $50.60 Million in Credo Technology Group Holding Ltd. $CRDO

Oaktree Capital Management LP purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 539,000 shares of the company’s stock, valued at approximately $50,596,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC lifted its stake in Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Reflection Asset Management acquired a new stake in Credo Technology Group in the fourth quarter valued at about $25,000. Acumen Wealth Advisors LLC bought a new position in Credo Technology Group in the fourth quarter valued at about $25,000. Flagship Harbor Advisors LLC acquired a new position in Credo Technology Group during the fourth quarter worth about $32,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Credo Technology Group in the first quarter worth about $33,000. Institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the subject of several research reports. Rothschild & Co Redburn initiated coverage on Credo Technology Group in a research report on Friday, May 1st. They issued a “buy” rating and a $206.00 target price for the company. Bank of America lifted their target price on shares of Credo Technology Group from $252.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Needham & Company LLC raised their price target 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. Finally, TD Cowen lifted their price target on shares of Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $266.17.

Credo Technology Group Stock Down 7.7%

CRDO stock opened at $177.50 on Thursday. The firm has a market cap of $33.10 billion, a price-to-earnings ratio of 71.57, a PEG ratio of 0.88 and a beta of 3.20. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67. The company’s fifty day simple moving average is $236.68 and its 200 day simple moving average is $171.23.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The firm had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same period last year, the business posted $0.20 EPS. The business’s revenue was up 157.0% compared to the same quarter last year. Research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: A Seeking Alpha analysis argued that the CRDO sell-off looks overblown, pointing to the company’s strong AI-related growth prospects and suggesting the recent weakness may create an attractive entry point. Credo Stock Sell-Off Looks Overblown
• Positive Sentiment: Credo was included in Zacks’ Rank #1 (Strong Buy) growth-stock list, reinforcing favorable near-term analyst sentiment. Best Growth Stocks to Buy for July 28th
• Positive Sentiment: Analyst coverage remains supportive, with a broad “Buy” consensus and price targets above recent trading levels. The company’s latest reported quarter also showed 157% year-over-year revenue growth, earnings above expectations, and a 35.37% net margin.
• Neutral Sentiment: Credo’s chief technology officer, Chi Fung Cheng, sold 27,500 shares for approximately $5.65 million at an average price of $205.54 on July 27. The sale reduced his holdings by only 0.47%, and it was conducted under a pre-arranged Rule 10b5-1 plan. SEC insider transaction filing
• Negative Sentiment: The CTO has made several scheduled sales in recent months, including another 27,500-share transaction on July 21. While the transactions appear routine and he still owns roughly 5.8 million shares, repeated insider selling can weigh on sentiment, particularly after CRDO’s significant run-up.
• Negative Sentiment: MarketBeat characterized Credo among AI stocks undergoing a summer pullback. Investors may be locking in gains across the AI and semiconductor sector despite continued data-center spending and intact long-term growth catalysts. 5 AI Stocks Are Pulling Back

Insider Activity at Credo Technology Group

In other news, CFO Daniel W. Fleming sold 7,580 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the transaction, the chief financial officer owned 504,708 shares of the company’s stock, valued at $124,097,603.04. This represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction on Monday, July 27th. The shares were sold at an average price of $205.54, for a total transaction of $5,652,350.00. Following the completion of the sale, the chief technology officer directly owned 5,799,870 shares of the company’s stock, valued at approximately $1,192,105,279.80. The trade was a 0.47% 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. Insiders have sold 329,662 shares of company stock valued at $77,732,771 in the last ninety days. 11.84% of the stock is currently owned by insiders.

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.