Credo Technology Group Holding Ltd. $CRDO Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,822 shares of the company’s stock after purchasing an additional 2,831 shares during the quarter. IFM Investors Pty Ltd’s holdings in Credo Technology Group were worth $3,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Credo Technology Group by 9.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock worth $39,004,000 after acquiring an additional 23,332 shares during the period. M&T Bank Corp boosted its position in shares of Credo Technology Group by 428.8% during the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock valued at $1,932,000 after acquiring an additional 10,888 shares during the last quarter. FengHe Fund Management Pte. Ltd. grew its holdings in shares of Credo Technology Group by 5.7% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock valued at $23,349,000 after purchasing an additional 8,769 shares during the period. Second Line Capital LLC purchased a new stake in shares of Credo Technology Group in the third quarter valued at about $4,283,000. Finally, Nordea Investment Management AB acquired a new stake in Credo Technology Group during the fourth quarter worth about $2,084,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Key Credo Technology Group News

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo’s Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Analysts Set New Price Targets

A number of brokerages have commented on CRDO. The Goldman Sachs Group reaffirmed a “buy” rating and set a $250.00 target price on shares of Credo Technology Group in a research note 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 company a “buy” rating in a research note on Tuesday, June 2nd. Evercore initiated coverage on shares of Credo Technology Group in a report on Monday, June 22nd. They set an “outperform” rating and a $325.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $263.11.

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $241.91 on Friday. Credo Technology Group Holding Ltd. has a twelve month low of $86.49 and a twelve month high of $308.67. The stock has a fifty day simple moving average of $220.92 and a 200-day simple moving average of $160.44. The stock has a market capitalization of $45.11 billion, a PE ratio of 97.54, a PEG ratio of 1.11 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data 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. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The firm had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s quarterly revenue was up 157.0% compared to the same quarter last year. On average, equities analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the sale, the chief financial officer directly owned 501,873 shares in the company, valued at $125,207,276.04. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 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 sale, 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 390,872 shares of company stock valued at $79,763,850 in the last three months. 11.84% of the stock is owned by corporate insiders.

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.