3,168 Shares in Credo Technology Group Holding Ltd. $CRDO Purchased by Vestcor Inc

Vestcor Inc bought a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the fourth quarter, HoldingsChannel reports. The fund bought 3,168 shares of the company’s stock, valued at approximately $456,000.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Credo Technology Group by 9.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after buying an additional 23,332 shares in the last quarter. M&T Bank Corp grew its stake in shares of Credo Technology Group by 428.8% in the fourth quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock valued at $1,932,000 after buying an additional 10,888 shares in the last quarter. FengHe Fund Management Pte. Ltd. grew its stake in shares of Credo Technology Group by 5.7% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock valued at $23,349,000 after buying an additional 8,769 shares in the last quarter. TD Asset Management Inc acquired a new stake in shares of Credo Technology Group in the third quarter valued at about $17,454,000. Finally, Second Line Capital LLC acquired a new stake in Credo Technology Group during the 3rd quarter valued at approximately $4,283,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Key Credo Technology Group News

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

• Positive Sentiment: Traders bought more call options than usual, signaling bullish expectations for further upside in Credo Technology Group.
• Positive Sentiment: Recent commentary noted that CRDO has surged about 78% in three months, reflecting strong AI-driven demand and continued investor enthusiasm for the stock. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Another analysis said Credo remains one of the standout semiconductor names, outperforming the broader industry, sector, and the S&P 500 over the last quarter. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Neutral Sentiment: A market wrap-up article mentioned Credo as one of the stocks advancing during Tuesday’s session, but the main driver was broader market volatility rather than company-specific news. Stock Market Today: Nasdaq Ends Off Steeper Loss, Dow Rises After Downturn; Credo Technology Advances
• Neutral Sentiment: Insider selling by the CEO and a director may be weighing on sentiment somewhat, but these sales were relatively routine and do not necessarily signal a change in fundamentals.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $234.32 on Wednesday. The stock has a market cap of $43.22 billion, a PE ratio of 94.48, a price-to-earnings-growth ratio of 1.44 and a beta of 3.22. The business’s fifty day moving average is $174.95 and its 200-day moving average is $148.44. Credo Technology Group Holding Ltd. has a 1 year low of $66.75 and a 1 year high of $252.70.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $431.80 million. During the same period in the previous year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 157.0% on a year-over-year basis. Equities research analysts predict that Credo Technology Group Holding Ltd. will post 3.93 earnings per share for the current year.

Insider Transactions at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $103.19, for a total value of $2,837,725.00. Following the transaction, the chief technology officer directly owned 6,162,370 shares of the company’s stock, valued at approximately $635,894,960.30. This trade represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $218.57, for a total value of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. The trade was a 13.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 348,284 shares of company stock worth $51,616,969. 11.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CRDO has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Weiss Ratings raised Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Rothschild & Co Redburn began coverage on Credo Technology Group in a research note on Friday, May 1st. They set a “buy” rating and a $206.00 target price on the stock. Rosenblatt Securities lifted their target price on Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. Finally, Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.41.

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.