Danica Pension Livsforsikringsaktieselskab Takes Position in Credo Technology Group Holding Ltd. $CRDO

Danica Pension Livsforsikringsaktieselskab bought a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 1st quarter, Holdings Channel reports. The firm bought 471,946 shares of the company’s stock, valued at approximately $44,302,000. Credo Technology Group makes up approximately 0.8% of Danica Pension Livsforsikringsaktieselskab’s portfolio, making the stock its 28th largest holding.

A number of other institutional investors have also added to or reduced their stakes in CRDO. Crewe Advisors LLC raised its position in Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. Reflection Asset Management bought a new position in shares of Credo Technology Group in the 4th quarter valued at about $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Credo Technology Group during the 4th quarter worth about $25,000. Flagship Harbor Advisors LLC acquired a new position in shares of Credo Technology Group during the 4th quarter worth about $32,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Credo Technology Group during the 1st quarter worth about $33,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Trading Up 5.6%

Shares of CRDO opened at $223.87 on Wednesday. Credo Technology Group Holding Ltd. has a 12 month low of $86.49 and a 12 month high of $308.67. The firm’s 50 day moving average is $232.65 and its 200-day moving average is $168.33. The stock has a market capitalization of $41.75 billion, a PE ratio of 90.27, a P/E/G ratio of 0.97 and a beta of 3.20.

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

Insider Buying and Selling

In related news, Director Fariba Danesh sold 1,100 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $236.34, for a total value of $259,974.00. Following the transaction, the director owned 7,017 shares in the company, valued at approximately $1,658,397.78. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sylvia Acevedo sold 2,208 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $211.00, for a total value of $465,888.00. Following the completion of the transaction, the director directly owned 16,337 shares of the company’s stock, valued at approximately $3,447,107. This trade represents a 11.91% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 302,162 shares of company stock valued at $70,897,646. 11.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Jefferies Financial Group upped their price objective on Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Barclays upped their price objective on Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Needham & Company LLC raised their price objective on Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $266.17.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Analysts and market commentators continue to highlight Credo’s exposure to AI infrastructure, especially its active electrical cables and SerDes retimers used to connect GPU racks in hyperscale data centers. Price Prediction: Credo Stock Will Trade at This Price in 2027
• Positive Sentiment: Investor letters and commentary point to Credo benefiting from increasing connectivity demand, reinforcing the idea that the company is well positioned in AI networking and optical infrastructure. Credo Technology Gains from Increasing Connectivity Challenge
• Positive Sentiment: Several recent articles frame CRDO as a semiconductor supply-chain stock worth buying on the dip, citing demand for AI chip testing, packaging, and high-speed connectivity as potential support for a recovery. 4 AI Semiconductor Supply-Chain Stocks to Buy on the Recent Dip
• Neutral Sentiment: One recent write-up noted the stock’s sharp short-term pullback, but also argued that the sell-off may be an opportunity if Credo can sustain its revenue growth and AI networking momentum. Price Prediction: Credo Stock Will Trade at This Price in 2027
• Negative Sentiment: Broader semiconductor coverage suggests that strong AI-related gains across the sector may leave limited upside near term, which could temper enthusiasm if valuation remains rich. Barclays upgrades Lumentum, cuts Allegro, Penguin before chip earnings

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.