Sierra Summit Advisors LLC Buys Shares of 3,113 Credo Technology Group Holding Ltd. $CRDO

Sierra Summit Advisors LLC purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,113 shares of the company’s stock, valued at approximately $448,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Credo Technology Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock valued at $2,386,449,000 after buying an additional 59,849 shares during the period. JPMorgan Chase & Co. raised its holdings in Credo Technology Group by 18.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock valued at $1,121,118,000 after buying an additional 1,190,522 shares during the period. Alliancebernstein L.P. raised its holdings in Credo Technology Group by 66.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after buying an additional 1,218,504 shares during the period. Bank of America Corp DE raised its holdings in Credo Technology Group by 161.5% in the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after buying an additional 1,406,752 shares during the period. Finally, Swedbank AB raised its holdings in Credo Technology Group by 47.1% in the 4th quarter. Swedbank AB now owns 2,062,779 shares of the company’s stock valued at $296,813,000 after buying an additional 660,679 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo surged after announcing a partnership with Rebellions to integrate its ZeroFlap cables into RebelPOD, a move aimed at improving efficiency in enterprise AI factories and supporting scalable inference deployments. Article Title
• Positive Sentiment: Zacks Research upgraded Credo from “hold” to “strong-buy,” adding to the bullish sentiment around the name. Article Title
• Positive Sentiment: Several new write-ups highlighted Credo as an attractive AI connectivity stock and one of the semiconductor names with the highest upside potential, with analysts pointing to growth from AEC adoption, new product families, and the company’s $750 million DustPhotonics deal. Article Title
• Positive Sentiment: Broader coverage also framed Credo as a leading beneficiary of the AI boom, which is helping keep momentum strong in the stock. Article Title
• Neutral Sentiment: Credo also announced upcoming investor conference presentations, which can help maintain visibility but does not by itself change the business outlook. Article Title
• Negative Sentiment: Some market commentary warned that the stock’s sharp reversal could be a caution sign, though that view is outweighed today by the stronger bullish AI and analyst-driven narrative. Article Title

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $193.39 on Friday. The firm has a market capitalization of $35.67 billion, a PE ratio of 107.44 and a beta of 3.17. The firm’s 50-day moving average is $144.76 and its two-hundred day moving average is $142.53. Credo Technology Group Holding Ltd. has a 1 year low of $59.00 and a 1 year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The business’s revenue for the quarter was up 201.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. Analysts expect that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daniel W. Fleming sold 7,580 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $152.63, for a total transaction of $1,156,935.40. Following the sale, the chief financial officer owned 433,678 shares of the company’s stock, valued at approximately $66,192,273.14. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $178.99, for a total value of $4,922,225.00. Following the sale, the chief technology officer directly owned 6,024,870 shares in the company, valued at $1,078,391,481.30. This represents a 0.45% 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 sold a total of 386,608 shares of company stock worth $50,371,351 over the last ninety days. Insiders own 11.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRDO. Rothschild & Co Redburn began coverage on shares of Credo Technology Group in a report on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective on the stock. Susquehanna cut their target price on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research report on Tuesday, March 3rd. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Credo Technology Group in a research report on Wednesday, April 15th. Stifel Nicolaus set a $200.00 target price on Credo Technology Group in a research report on Tuesday, March 3rd. Finally, Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Credo Technology Group presently has a consensus rating of “Buy” and an average price target of $207.71.

Credo Technology Group 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.