Elemental Capital Partners LLC Invests $19.68 Million in Credo Technology Group Holding Ltd. $CRDO

Elemental Capital Partners LLC acquired a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 135,186 shares of the company’s stock, valued at approximately $19,684,000. Credo Technology Group comprises about 11.1% of Elemental Capital Partners LLC’s holdings, making the stock its 3rd largest holding.

Other large investors have also recently bought and sold shares of the company. California Public Employees Retirement System grew its position in Credo Technology Group by 17.2% in the 2nd quarter. California Public Employees Retirement System now owns 257,567 shares of the company’s stock valued at $23,848,000 after buying an additional 37,772 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Credo Technology Group by 34.6% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,400 shares of the company’s stock worth $4,135,000 after acquiring an additional 7,300 shares during the period. Thompson Davis & CO. Inc. bought a new position in shares of Credo Technology Group in the second quarter valued at approximately $382,000. Realta Investment Advisors acquired a new position in shares of Credo Technology Group during the second quarter valued at approximately $300,000. Finally, Ethic Inc. increased its stake in shares of Credo Technology Group by 35.5% during the second quarter. Ethic Inc. now owns 7,142 shares of the company’s stock valued at $668,000 after acquiring an additional 1,873 shares during the period. Institutional investors own 80.46% of the company’s stock.

More Credo Technology Group News

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

• Positive Sentiment: Positive momentum stories from retail/financial press that can attract buying interest — recent pieces highlight CRDO as a top momentum pick, increasing visibility among momentum traders and retail investors. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd. (CRDO) is a Great Choice
• Positive Sentiment: Additional bullish write-up from Zacks reinforcing the momentum narrative; such analyst/coverage pieces often boost short-term demand and can amplify moves after strong recent earnings. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd.
• Positive Sentiment: Follow-up coverage noting a recent price gain increases attention and may trigger additional buying from momentum/short-term traders. Credo Technology Group (NASDAQ:CRDO) Shares Up 6.2% – Should You Buy?
• Neutral Sentiment: Reported short-interest data shows effectively zero short interest (and an anomalous “NaN” change), suggesting little short-seller pressure to fuel squeezes — likely a data/reporting quirk rather than a market driver. (No link available.)
• Negative Sentiment: Insider selling by executives — CTO Chi Fung Cheng sold 30,000 shares (~$4.2M) (SEC Form 4 filed). Large insider sales by senior officers can weigh on sentiment even though insiders still hold large positions. CTO Form 4
• Negative Sentiment: Additional insider sales reported: multiple filings show the CFO sold roughly $597k and $547k, and the CEO sold roughly $1.41M and $1.32M in separate transactions — cumulative insider selling may temper gains. CFO Sells $597,412 CFO Sells $546,865 CEO Sells $1,411,873 CEO Sells $1,322,281

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Susquehanna upped their target price on Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus set a $160.00 price target on shares of Credo Technology Group in a research report on Wednesday, October 1st. KGI Securities raised shares of Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 price target for the company in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a research note on Monday, December 29th. Finally, Barclays increased their target price on shares of Credo Technology Group from $165.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $217.08.

Insiders Place Their Bets

In related news, insider James Laufman sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the transaction, the insider directly owned 214,905 shares of the company’s stock, valued at approximately $32,235,750. The trade was a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $139.93, for a total value of $4,197,900.00. Following the sale, the chief technology officer owned 6,387,370 shares of the company’s stock, valued at $893,784,684.10. The trade was a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,088,276 shares of company stock worth $167,068,167. 11.84% of the stock is currently owned by corporate insiders.

Credo Technology Group Price Performance

Shares of CRDO opened at $156.07 on Tuesday. The company has a 50-day moving average of $153.79 and a two-hundred day moving average of $137.61. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 136.90 and a beta of 2.66. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, December 1st. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.49 by $0.18. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The business had revenue of $268.03 million during the quarter, compared to the consensus estimate of $234.99 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The firm’s quarterly revenue was up 272.1% on a year-over-year basis. Analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

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.