Victory Capital Management Inc. Has $35.16 Million Stock Position in Credo Technology Group Holding Ltd. $CRDO

Victory Capital Management Inc. lessened its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 63.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 241,437 shares of the company’s stock after selling 414,594 shares during the quarter. Victory Capital Management Inc. owned approximately 0.14% of Credo Technology Group worth $35,156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Credo Technology Group by 36.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock worth $602,662,000 after acquiring an additional 1,739,844 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in Credo Technology Group during the 3rd quarter valued at $183,553,000. Alliancebernstein L.P. lifted its holdings in Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after purchasing an additional 1,218,504 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Credo Technology Group during the second quarter worth $82,479,000. Finally, Invesco Ltd. increased its holdings in shares of Credo Technology Group by 160.7% in the second quarter. Invesco Ltd. now owns 1,118,119 shares of the company’s stock valued at $103,527,000 after purchasing an additional 689,202 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

More Credo Technology Group News

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

• Positive Sentiment: Big Q3 beat — Credo reported a blowout quarter with revenue up ~201% year-over-year, a solid EPS beat and strong margins, giving a fundamental growth story that supports higher valuations. Earnings/Reaction
• Positive Sentiment: M&A and partnerships broaden AI/data-center exposure — the CoMira acquisition and a TensorWave tie-up expand Credo’s connectivity IP and go-to-market for advanced AI racks, strengthening the company’s growth runway. CoMira Deal
• Positive Sentiment: Industry tailwinds and vendor positioning — Broadcom’s public tilt toward copper-based connectivity helped lift Credo, since its products align with that trend. Broadcom Signal
• Positive Sentiment: Analyst support and rising estimates — JPMorgan maintained an Overweight view and several outlets note upward revisions to earnings estimates and sizable average price-target upside, which can underpin medium-term upside. JPMorgan Note
• Neutral Sentiment: Short-interest reporting looks unreliable — recent short-interest posts show zero shares/NaN changes and a 0.0 days-to-cover metric, which likely reflects a data/reporting issue rather than meaningful short activity. (Internal short-interest entries)
• Negative Sentiment: Analyst downgrades and lowered expectations — multiple firms (including Rosenblatt, Susquehanna, Mizuho and others) have trimmed forecasts or expressed caution; those moves triggered a sharp gap down and a prior one-day ~15% sell-off. Downgrade/Share Drop
• Negative Sentiment: Post-earnings volatility and risk callouts — several pieces highlight that while results were strong, valuation sensitivity and execution risks could keep the stock choppy in the near term. Volatility Discussion

Insider Activity

In related news, CFO Daniel W. Fleming sold 3,902 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $140.15, for a total value of $546,865.30. Following the completion of the transaction, the chief financial officer owned 446,178 shares of the company’s stock, valued at $62,531,846.70. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sylvia Acevedo sold 2,200 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $159.18, for a total transaction of $350,196.00. Following the sale, the director owned 18,545 shares in the company, valued at $2,951,993.10. The trade was a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 861,101 shares of company stock worth $126,611,953. 11.84% of the stock is owned by insiders.

Credo Technology Group Stock Down 4.3%

Shares of NASDAQ:CRDO opened at $109.83 on Monday. The company’s 50 day moving average price is $129.70 and its two-hundred day moving average price is $143.41. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $213.80. The firm has a market cap of $20.26 billion, a PE ratio of 61.02 and a beta of 2.67.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The firm’s quarterly revenue was up 201.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. On average, research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Credo Technology Group in a research note on Tuesday, March 3rd. The Goldman Sachs Group set a $165.00 price target on shares of Credo Technology Group and gave the company a “buy” rating in a research note on Thursday, February 19th. Mizuho cut their price objective on shares of Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Finally, KGI Securities upgraded Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 target price on the stock in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $206.33.

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.