BNP Paribas Financial Markets Sells 334,140 Shares of Credo Technology Group Holding Ltd. $CRDO

BNP Paribas Financial Markets decreased its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 832,490 shares of the company’s stock after selling 334,140 shares during the quarter. BNP Paribas Financial Markets’ holdings in Credo Technology Group were worth $119,787,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CRDO. Bank of America Corp DE raised its position in Credo Technology Group by 161.5% in the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after purchasing an additional 1,406,752 shares during the last quarter. Rafferty Asset Management LLC bought a new position in Credo Technology Group in the 3rd quarter valued at $183,553,000. Alliancebernstein L.P. raised its position in shares of Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after acquiring an additional 1,218,504 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Credo Technology Group by 18.3% during the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock worth $1,121,118,000 after acquiring an additional 1,190,522 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Credo Technology Group by 2,537.7% during the third quarter. Marshall Wace LLP now owns 1,150,000 shares of the company’s stock worth $167,452,000 after acquiring an additional 1,106,401 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $236.03 on Monday. Credo Technology Group Holding Ltd. has a 12 month low of $59.21 and a 12 month high of $240.81. The business has a fifty day simple moving average of $158.17 and a 200 day simple moving average of $144.80. The stock has a market cap of $43.54 billion, a PE ratio of 131.13 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 201.5% compared to the same quarter last year. Analysts expect that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Joseph Brennan sold 6,149 shares of Credo Technology Group stock in a transaction on Sunday, April 5th. The stock was sold at an average price of $101.45, for a total transaction of $623,816.05. Following the completion of the sale, the chief executive officer directly owned 222,311 shares of the company’s stock, valued at $22,553,450.95. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Laufman sold 10,000 shares of Credo Technology Group stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total value of $1,644,100.00. Following the sale, the insider directly owned 198,609 shares of the company’s stock, valued at approximately $32,653,305.69. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 386,608 shares of company stock valued at $50,371,351 in the last three months. 11.84% of the stock is currently owned by company insiders.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CRDO shares. The Goldman Sachs Group boosted their target price on Credo Technology Group from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Roth Mkm dropped their target price on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Craig Hallum restated a “buy” rating and set a $200.00 target price on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Susquehanna dropped their target price on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $210.65.

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.