Venture Visionary Partners LLC Invests $4 Million in Credo Technology Group Holding Ltd. $CRDO

Venture Visionary Partners LLC acquired a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,778 shares of the company’s stock, valued at approximately $3,997,000.

A number of other hedge funds have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Credo Technology Group by 16.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock worth $80,000 after acquiring an additional 77 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in Credo Technology Group by 0.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company’s stock valued at $2,298,000 after buying an additional 91 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in Credo Technology Group by 2.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company’s stock valued at $741,000 after buying an additional 100 shares during the last quarter. Spirepoint Private Client LLC raised its holdings in Credo Technology Group by 6.6% during the 4th quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company’s stock valued at $243,000 after buying an additional 105 shares during the last quarter. Finally, Crewe Advisors LLC raised its holdings in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after buying an additional 106 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo’s latest results and guidance remain the main catalyst, with the company reporting stronger-than-expected revenue and earnings and projecting continued growth next quarter. Credo Technology Group Holding (CRDO) Is Up 21.2% After Earnings Beat And DustPhotonics Deal – What’s Changed
• Positive Sentiment: Analyst coverage this morning was constructive, pointing to Credo’s exposure to the AI connectivity upgrade cycle and growing optical product opportunities, which supports the stock’s momentum. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Positive Sentiment: Additional reports called Credo a strong momentum stock and questioned whether it still deserves a buy rating after its sharp rally, underscoring investor enthusiasm for the name. Credo Technology Group Holding Ltd. (CRDO) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: CFO Daniel W. Fleming sold 40,000 shares under a pre-arranged 10b5-1 plan, but the sale was tied to tax withholding on vested equity awards, which makes it less concerning as a signal about fundamentals. SEC Form 4 filing
• Negative Sentiment: After a large run-up, some coverage noted that valuation is getting rich, so the stock may be vulnerable if earnings growth, margins, or customer ramps disappoint. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Analysts Set New Price Targets

CRDO has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. 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. Needham & Company LLC upped their price target on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a report on Monday, June 1st. The Goldman Sachs Group reiterated a “buy” rating and set a $250.00 price target on shares of Credo Technology Group in a report on Tuesday, June 2nd. Finally, Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned 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 price target of $248.41.

Credo Technology Group Trading Up 3.4%

Shares of NASDAQ CRDO opened at $259.41 on Tuesday. Credo Technology Group Holding Ltd. has a 12 month low of $75.50 and a 12 month high of $270.21. The firm has a market capitalization of $47.85 billion, a PE ratio of 104.60, a price-to-earnings-growth ratio of 1.32 and a beta of 3.22. The firm has a fifty day simple moving average of $187.62 and a two-hundred day simple moving average of $151.53.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The business had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same period in the prior year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 157.0% on a year-over-year basis. On average, sell-side analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Insiders Place Their Bets

In other Credo Technology Group news, CEO William Joseph Brennan sold 54,984 shares of the company’s stock in a transaction 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 approximately $80,286,662.39. This represents a 13.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel W. Fleming sold 40,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the transaction, the chief financial officer owned 501,873 shares of the company’s stock, valued at $125,207,276.04. This trade represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 389,384 shares of company stock worth $66,025,968. 11.84% of the stock is currently owned by corporate insiders.

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.