Kornitzer Capital Management Inc. KS Acquires 17,500 Shares of Credo Technology Group Holding Ltd. $CRDO

Kornitzer Capital Management Inc. KS grew its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 55.0% in the 1st quarter, Holdings Channel reports. The fund owned 49,295 shares of the company’s stock after purchasing an additional 17,500 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Credo Technology Group were worth $4,627,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. 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 worth $25,000 after buying an additional 106 shares during the period. Reflection Asset Management acquired a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group during the fourth quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth $36,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $259.53, for a total transaction of $7,137,075.00. Following the transaction, the chief technology officer directly owned 5,992,370 shares in the company, valued at approximately $1,555,199,786.10. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 the company’s stock in a transaction 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 sale, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. This trade represents a 13.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 367,162 shares of company stock valued at $81,338,911 in the last 90 days. 11.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CRDO shares. JPMorgan Chase & Co. boosted their price objective on shares of Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Evercore initiated coverage on Credo Technology Group in a report on Monday, June 22nd. They set an “outperform” rating and a $325.00 target price for the company. Needham & Company LLC lifted their price target on Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Bank of America boosted their price target on Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Stifel Nicolaus upped their price objective on Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $263.11.

Key Credo Technology Group News

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

• Positive Sentiment: Recent commentary remains bullish on Credo’s role in AI data-center infrastructure, highlighting strong demand for its high-speed connectivity products, expanding margins, and rapid revenue growth. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Positive Sentiment: Another recent piece emphasized Credo’s exposure to AI “toll roads,” including its active electrical cables and 1.6T interconnects, which are reportedly used in major hyperscaler training clusters and point to continued long-term growth. Credo: Strong AI-Led Growth Proposition
• Neutral Sentiment: Short interest fell sharply in June, which may ease some bearish pressure, but a separate July update showed no meaningful short-interest data change. Credo Technologies Accelerates AI—Its Stock Price Will Follow
• Neutral Sentiment: CTO Chi Fung Cheng sold shares in recent days under a pre-arranged Rule 10b5-1 plan, which is generally viewed as routine, but repeated insider sales can still weigh on investor sentiment. Credo’s CTO Sold 31,290 Shares. His Remaining $1.6 Billion Stake Tells the Real Story
• Negative Sentiment: The stock also faced some headwinds from a broader chip-sector selloff, adding to near-term volatility in semiconductor names. Chip Stocks Join in Broad Selloff

Credo Technology Group Price Performance

NASDAQ:CRDO traded down $7.86 on Friday, hitting $257.79. 3,963,791 shares of the company’s stock were exchanged, compared to its average volume of 8,897,760. The firm has a 50-day moving average price of $228.75 and a 200-day moving average price of $164.56. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67. The company has a market cap of $48.07 billion, a P/E ratio of 103.95, a price-to-earnings-growth ratio of 1.18 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. During the same quarter last year, the company earned $0.20 EPS. Credo Technology Group’s revenue for the quarter was up 157.0% compared to the same quarter last year. On average, research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

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.