Credo Technology Group Holding Ltd. $CRDO Stock: Triumph Capital Management Increases Position

Triumph Capital Management lifted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 151.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,185 shares of the company’s stock after acquiring an additional 4,323 shares during the period. Triumph Capital Management’s holdings in Credo Technology Group were worth $1,400,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CRDO. Bank of America Corp DE raised its stake in Credo Technology Group by 13.7% during the 2nd quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock valued at $593,603,000 after purchasing an additional 262,479 shares during the period. Corient Private Wealth LLC lifted its holdings in Credo Technology Group by 239,024.5% in the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after purchasing an additional 3,597,318 shares in the last quarter. Atreides Management LP boosted its stake in Credo Technology Group by 3.5% in the 2nd quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock worth $307,109,000 after purchasing an additional 38,052 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Credo Technology Group by 192.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock worth $98,290,000 after purchasing an additional 688,596 shares during the period. Finally, Value Aligned Research Advisors LLC purchased a new stake in Credo Technology Group during the 2nd quarter valued at approximately $91,919,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo launched its 1.6T ZeroFlap Active Light Cable for AI data centers. The optical interconnect is designed to reduce power consumption, improve reliability and extend connectivity reach, potentially expanding Credo’s addressable market as hyperscalers build larger AI clusters. Commercial shipments are expected around 2027. Credo Expands AI Connectivity Portfolio With 1.6T ZeroFlap ALC
• Positive Sentiment: The company launched an Open Compute Project workstream to standardize Short-Reach Micro-Emitter Optics. If specifications gain industry approval and adoption, the initiative could support future optical sales and help diversify Credo’s customer base. Credo Launches SRMO Standardization
• Positive Sentiment: Recent growth remains substantial. Credo’s latest quarterly revenue increased 114.7% year over year to $479 million, exceeding expectations, while EPS also beat consensus estimates. Analysts and bullish commentary point to AI connectivity demand and a projected fiscal 2027 revenue increase of more than 85%. Credo Revenue Outlook
• Neutral Sentiment: Credo is also expanding beyond cables through its OmniConnect Weaver memory technology, demonstrated with AMD’s Versal AI Edge platform. The opportunity could broaden its market, but the technology and optical products have not yet shipped at scale, leaving execution and commercialization risks. Credo Breaks the Memory Wall
• Negative Sentiment: The stock’s decline appears linked primarily to profit-taking across volatile AI infrastructure shares, with peer Astera Labs also weakening. Credo still trades at a valuation that assumes sustained execution, and roughly two major customers account for a significant portion of revenue. Does the Drop in Credo Stock Change Anything?
• Negative Sentiment: Several insiders sold shares, including CTO Chi Cheng, Director Pantas Sutardja and CFO Daniel Fleming. Each transaction was conducted under a pre-arranged Rule 10b5-1 plan, and the sellers retained substantial holdings, reducing the signal’s significance; nevertheless, the cluster of sales may weigh modestly on sentiment.

Credo Technology Group Stock Down 9.6%

Credo Technology Group stock traded down $19.08 during midday trading on Wednesday, reaching $179.23. 12,429,623 shares of the stock traded hands, compared to its average volume of 7,584,630. The stock has a market cap of $33.69 billion, a P/E ratio of 63.78, a PEG ratio of 0.80 and a beta of 3.25. The stock’s fifty day moving average is $207.99 and its 200-day moving average is $203.90. Credo Technology Group Holding Ltd. has a 12 month low of $86.49 and a 12 month high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The business had revenue of $479.00 million for the quarter, compared to the consensus estimate of $473.30 million. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. The company’s revenue was up 114.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities analysts predict that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, September 2nd. Evercore set a $292.00 target price on shares of Credo Technology Group in a research report on Wednesday, September 2nd. TD Cowen raised their target price on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Weiss Ratings downgraded shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, Barclays lifted their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Credo Technology Group presently has an average rating of “Moderate Buy” and an average price target of $262.67.

Insider Buying and Selling

In related news, COO Yat Lam sold 55,441 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $213.02, for a total value of $11,810,041.82. Following the sale, the chief operating officer owned 2,529,169 shares in the company, valued at approximately $538,763,580.38. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $193.12, for a total transaction of $5,310,800.00. Following the sale, the chief technology officer directly owned 5,689,897 shares in the company, valued at approximately $1,098,832,908.64. The trade was a 0.48% 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 a total of 468,786 shares of company stock valued at $95,025,003 over the last quarter. Corporate insiders own 9.06% of the company’s stock.

About Credo Technology Group

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.