Credo Technology Group Holding Ltd. $CRDO Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC grew its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,763 shares of the company’s stock after acquiring an additional 7,611 shares during the period. Fred Alger Management LLC owned about 0.08% of Credo Technology Group worth $21,693,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Credo Technology Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock valued at $2,386,449,000 after acquiring an additional 59,849 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 valued at $1,121,118,000 after acquiring an additional 1,190,522 shares in the last quarter. State Street Corp grew its stake in shares of Credo Technology Group by 23.4% during the fourth quarter. State Street Corp now owns 4,486,320 shares of the company’s stock valued at $645,537,000 after acquiring an additional 849,654 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Credo Technology Group by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock valued at $555,117,000 after acquiring an additional 184,676 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake 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 valued at $283,778,000 after acquiring an additional 1,218,504 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $239.18 on Wednesday. Credo Technology Group Holding Ltd. has a one year low of $77.79 and a one year high of $270.21. The company’s 50-day simple moving average is $190.37 and its 200-day simple moving average is $152.06. The stock has a market capitalization of $44.12 billion, a price-to-earnings ratio of 96.44, a PEG ratio of 1.36 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The business had revenue of $437.00 million for the quarter, compared to analysts’ expectations of $431.80 million. During the same quarter last year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 157.0% compared to the same quarter last year. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Credo Technology Group News Summary

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

• Positive Sentiment: Recent coverage remains upbeat on Credo’s growth story, pointing to strong AI connectivity demand, expanding optical product opportunities, and improving margins as reasons the stock has been bid higher. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Positive Sentiment: Analyst commentary also stayed constructive, including Mizuho reiterating an Outperform rating with a $290 target, reinforcing expectations that Credo can keep growing rapidly as AI networking spending expands. Mizuho Reiterates Outperform on Credo Technology Group Holding Ltd (CRDO)
• Positive Sentiment: Several articles framed Credo as a standout momentum stock and asked whether it can reach $300 by year-end, which adds to the bullish sentiment around the name. Can Credo Hit $300 By Year-End?
• Neutral Sentiment: CEO/CFO-related insider selling of 40,000 shares was disclosed, but it was done under a pre-arranged 10b5-1 plan and for tax withholding tied to equity vesting, making it less likely to be read as a negative signal on fundamentals. SEC Form 4 filing
• Negative Sentiment: After a huge rally, some commentary warned that CRDO’s valuation is getting stretched, so the stock could pull back if earnings growth, customer ramps, or margin expansion slow. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the transaction, the chief financial officer owned 501,873 shares of the company’s stock, valued at $125,207,276.04. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $118.25, for a total transaction of $3,251,875.00. Following the completion of the transaction, the chief technology officer directly owned 6,134,870 shares in the company, valued at $725,448,377.50. This represents a 0.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 389,384 shares of company stock valued at $66,025,968 over the last quarter. Insiders own 11.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CRDO shares. Jefferies Financial Group raised their target price 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. Mizuho increased their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Susquehanna increased their price target on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research report on Tuesday, June 2nd. TD Cowen increased their price target on shares of Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Craig Hallum reaffirmed a “buy” rating and set a $200.00 price target on shares of Credo Technology Group in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $248.41.

Credo Technology Group Company 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.