Vestcor Inc Takes Position in Credo Technology Group Holding Ltd. $CRDO

Vestcor Inc bought a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,168 shares of the company’s stock, valued at approximately $456,000.

Other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC lifted its stake in Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Credo Technology Group during the 4th quarter worth about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC grew its stake in shares of Credo Technology Group by 133.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 257 shares of the company’s stock worth $38,000 after purchasing an additional 147 shares during the period. Finally, Quarry LP grew its stake in shares of Credo Technology Group by 642.5% during the 3rd quarter. Quarry LP now owns 297 shares of the company’s stock worth $43,000 after purchasing an additional 257 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Price Performance

NASDAQ CRDO opened at $234.32 on Wednesday. Credo Technology Group Holding Ltd. has a 1-year low of $66.75 and a 1-year high of $252.70. The company has a market cap of $43.22 billion, a P/E ratio of 94.48, a P/E/G ratio of 1.44 and a beta of 3.22. The stock has a 50-day moving average of $174.95 and a two-hundred day moving average of $148.44.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 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 during the quarter, compared to the consensus estimate of $431.80 million. During the same period in the previous year, the company posted $0.20 earnings per share. The business’s revenue for the quarter was up 157.0% on a year-over-year basis. On average, analysts anticipate that Credo Technology Group Holding Ltd. will post 3.93 EPS for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other news, CEO William Joseph Brennan sold 54,984 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the sale, the chief executive officer owned 367,327 shares in the company, valued at $80,286,662.39. This represents a 13.02% 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, 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 value of $1,156,935.40. Following the transaction, the chief financial officer directly owned 433,678 shares in the company, valued at $66,192,273.14. This represents a 1.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 348,284 shares of company stock valued at $51,616,969. Corporate insiders own 11.84% of the company’s stock.

Trending Headlines about Credo Technology Group

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.

Analysts Set New Price Targets

CRDO has been the topic of a number of recent analyst reports. Susquehanna increased their target price on Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a research report on Tuesday, June 2nd. 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 research report on Tuesday, June 2nd. Mizuho raised their price objective on Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Jefferies Financial Group raised their price objective on Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Craig Hallum reiterated a “buy” rating and set a $200.00 price target on shares of Credo Technology Group in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.