Credo Technology Group Holding Ltd. $CRDO Holdings Increased by Candriam S.C.A.

Candriam S.C.A. grew its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 340,739 shares of the company’s stock after purchasing an additional 13,680 shares during the quarter. Candriam S.C.A.’s holdings in Credo Technology Group were worth $66,615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Atreides Management LP acquired a new stake in shares of Credo Technology Group during the first quarter worth $102,434,000. The Manufacturers Life Insurance Company lifted its stake in Credo Technology Group by 192.1% in the first quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock valued at $98,290,000 after buying an additional 688,596 shares during the period. H&H International Investment LLC boosted its holdings in Credo Technology Group by 431.6% during the first quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock worth $70,515,000 after buying an additional 609,900 shares during the last quarter. Oaktree Capital Management LP bought a new position in Credo Technology Group during the first quarter worth about $50,596,000. Finally, Pictet Asset Management Holding SA grew its position in shares of Credo Technology Group by 222.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 740,487 shares of the company’s stock worth $144,170,000 after buying an additional 510,905 shares during the period. 80.46% of the stock is currently owned by institutional investors.

More Credo Technology Group News

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

• Positive Sentiment: A Seeking Alpha contributor upgraded Credo, arguing that the recent sell-off has gone far enough—potentially signaling that the lower share price has improved the risk-reward profile. Credo: The Sell-Off Has Done Its Job (Rating Upgrade)
• Positive Sentiment: Credo and Oracle secured Open Compute Project approval for two optical telemetry standards, supporting Credo’s role in developing connectivity and reliability for next-generation AI data centers. Credo and Oracle Drive AI Optical Innovation
• Neutral Sentiment: Coverage notes that Credo and other AI-hardware companies have delivered strong results, but cautions that supply bottlenecks and customer concentration could limit further gains. The AI Boom Is Creating a New Set of Winners
• Negative Sentiment: A broader tech-sector decline drove a steep drop in CRDO, as investors reassessed AI-related stocks. Separate coverage tied the sell-off to fears that political changes could pose a downside risk to AI spending; that concern, however, has not appeared in Credo’s guidance or analyst estimates. Tech selloff sends Credo Technology down Credo Sinks as Political Fears Weigh on AI Stocks

Insider Activity

In related news, CTO Chi Cheng sold 27,500 shares of the firm’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $193.93, for a total transaction of $5,333,075.00. Following the sale, the chief technology officer directly owned 5,662,397 shares in the company, valued at $1,098,108,650.21. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 50,000 shares of the business’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $206.30, for a total transaction of $10,315,000.00. Following the completion of the sale, the chief operating officer directly owned 2,479,169 shares in the company, valued at $511,452,564.70. This represents a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 352,538 shares of company stock worth $67,200,077 over the last quarter. 9.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRDO has been the subject of a number of recent analyst reports. Evercore set a $292.00 price target on Credo Technology Group in a research note on Wednesday, September 2nd. Mizuho reduced their price objective on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, September 21st. Weiss Ratings cut shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Bank of America lowered their target price on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, September 2nd. Finally, Barclays increased their target price on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $262.67.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $120.51 on Friday. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67. The stock has a market capitalization of $22.65 billion, a PE ratio of 42.89, a price-to-earnings-growth ratio of 0.48 and a beta of 3.29. The business’s 50-day simple moving average is $178.67 and its 200-day simple moving average is $180.29.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $473.30 million. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. Credo Technology Group’s revenue for the quarter was up 114.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS. On average, research analysts expect that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

Credo Technology Group Company Profile

Credo Technology Group designs and supplies high-speed connectivity solutions for data infrastructure, including data centers and networking systems. Its products help move data between processors, servers, switches and other equipment used in demanding, high-bandwidth environments.

The company’s offerings include active electrical cables, semiconductor and optical digital signal processing products, retimers, and other connectivity components. These solutions are used in applications such as cloud computing and artificial intelligence infrastructure.

Credo is headquartered in San Jose, California, and serves customers in the global data infrastructure market.