Credo Technology Group Holding Ltd. $CRDO Shares Newly Purchased by Polaris Financial Partners

Polaris Financial Partners acquired a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,603 shares of the company’s stock, valued at approximately $681,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Credo Technology Group by 13.7% during the 2nd quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock valued at $593,603,000 after purchasing an additional 262,479 shares during the period. Corient Private Wealth LLC lifted its position in shares of Credo Technology Group by 239,024.5% in the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after purchasing an additional 3,597,318 shares during the period. Atreides Management LP boosted its stake in shares of Credo Technology Group by 3.5% in the 2nd quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock valued at $307,109,000 after purchasing an additional 38,052 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Credo Technology Group by 11.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,021,020 shares of the company’s stock worth $290,805,000 after buying an additional 203,462 shares during the period. Finally, Barclays PLC increased its position in shares of Credo Technology Group by 33.8% during the fourth quarter. Barclays PLC now owns 1,448,004 shares of the company’s stock worth $208,353,000 after buying an additional 365,923 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Mizuho dropped their target price on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, September 21st. Stifel Nicolaus raised their target price on Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Bank of America decreased their price target on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, September 2nd. TD Cowen boosted their price objective on Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Finally, Rosenblatt Securities increased their target price on shares of Credo Technology Group from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $264.89.

Credo Technology Group Stock Performance

NASDAQ CRDO traded up $8.47 during trading hours on Friday, hitting $218.64. The company had a trading volume of 10,649,608 shares, compared to its average volume of 7,535,151. The firm has a 50 day simple moving average of $207.10 and a 200 day simple moving average of $197.87. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67. The firm has a market capitalization of $41.09 billion, a price-to-earnings ratio of 77.81, a PEG ratio of 0.78 and a beta of 3.25.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. Credo Technology Group’s revenue was up 114.7% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. On average, research analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

Key Credo Technology Group News

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

• Positive Sentiment: Investors are increasingly focused on the next phase of AI spending: the networking, cabling and optical-connectivity components required to link large data-center clusters. Credo’s revenue recently rose 114.7% year over year to $479 million, while earnings exceeded analyst expectations. AI Spending Is Entering Its Next Phase
• Positive Sentiment: The weaker employment backdrop is helping growth-oriented technology shares, including Credo, because potentially lower interest rates can increase the value investors assign to future earnings. Why Credo Technology Stock Is Surging on an Unemployment Jump
• Positive Sentiment: Sell-side sentiment remains favorable, with Credo carrying a “Moderate Buy” consensus rating and an average price target of $264.89. Recent coverage also points to strong momentum after the latest earnings report. Credo Stock Rated Moderate Buy
• Neutral Sentiment: COO Yat Lam sold 50,000 shares for about $10.3 million, while CTO Chi Cheng sold 27,500 shares for approximately $5.3 million. Both transactions were made under pre-arranged Rule 10b5-1 plans; Lam’s sale covered tax withholding tied to equity vesting, and the executives retain substantial holdings. Credo Insider Sale Filing
• Negative Sentiment: Credo’s valuation remains demanding, with a P/E ratio near 78 and substantial volatility. Additional insider selling, including a recent CEO disposition, could weigh on sentiment if investors become concerned that expectations for AI-driven growth are already reflected in the stock. Credo CEO Sells Company Shares

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Cheng sold 27,500 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $205.54, for a total transaction of $5,652,350.00. Following the completion of the transaction, the chief technology officer directly owned 5,799,870 shares in the company, valued at $1,192,105,279.80. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 55,441 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $213.02, for a total transaction of $11,810,041.82. Following the completion of the transaction, the chief operating officer directly owned 2,529,169 shares in the company, valued at approximately $538,763,580.38. The trade was a 2.15% 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. Over the last three months, insiders sold 434,746 shares of company stock valued at $89,424,859. Insiders own 9.06% of the company’s stock.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.