Banque Cantonale Vaudoise Acquires 5,680 Shares of Credo Technology Group Holding Ltd. $CRDO

Banque Cantonale Vaudoise boosted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 27.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,136 shares of the company’s stock after buying an additional 5,680 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Credo Technology Group were worth $2,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Corient Private Wealth LLC lifted its holdings in shares of Credo Technology Group by 239,024.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after buying an additional 3,597,318 shares during the period. Amundi boosted its stake in shares of Credo Technology Group by 28,478.2% in the 4th quarter. Amundi now owns 1,559,796 shares of the company’s stock worth $224,439,000 after buying an additional 1,554,338 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Credo Technology Group by 841.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company’s stock worth $228,979,000 after acquiring an additional 1,422,391 shares during the period. Bank of America Corp DE grew its holdings in shares of Credo Technology Group by 161.5% in the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after acquiring an additional 1,406,752 shares during the period. Finally, Rafferty Asset Management LLC purchased a new stake in Credo Technology Group during the third quarter valued at $183,553,000. Institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Stifel Nicolaus upped their price target on shares of Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Monday. Roth Mkm increased their price objective on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Bank of America raised their price objective on shares of Credo Technology Group from $252.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday. Two equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $263.11.

Insider Activity

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible 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, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. This represents a 13.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 416,884 shares of company stock valued at $77,492,368 in the last ninety days. Corporate insiders own 11.84% of the company’s stock.

More Credo Technology Group News

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

• Positive Sentiment: Evercore ISI initiated coverage on Credo Technology Group with an Outperform rating and a $325 price target, arguing the company is well positioned to benefit from expanding optical AI connectivity demand in data centers.
• Positive Sentiment: Zacks added CRDO to its Rank #1 (Strong Buy) growth stocks list, reinforcing the view that the company’s earnings and revenue momentum remain strong.
• Positive Sentiment: Recent investor commentary highlighted Credo’s strong fundamentals, including its 1.6T connectivity ramp and rapid AI data-center growth, following quarterly revenue growth of 157% year over year.
• Neutral Sentiment: 24/7 Wall St. published a price prediction piece on Credo, saying the stock has already rallied sharply this year and may now be trading near fair value.
• Negative Sentiment: Chief Technology Officer Chi Fung Cheng sold 27,500 shares worth about $7.45 million under a pre-arranged trading plan, which can weigh on sentiment even though it was not an open-market discretionary sale.
• Negative Sentiment: Seeking Alpha published a bearish downgrade on CRDO, adding a note of caution after the stock’s strong run.

Credo Technology Group Stock Performance

NASDAQ CRDO opened at $268.03 on Friday. The company has a market capitalization of $49.98 billion, a PE ratio of 108.08, a price-to-earnings-growth ratio of 1.23 and a beta of 3.22. The business’s fifty day moving average is $211.63 and its 200 day moving average is $156.69. Credo Technology Group Holding Ltd. has a fifty-two week low of $84.25 and a fifty-two week high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.14. The business had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.Credo Technology Group’s revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS 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.