Fjarde AP Fonden Fourth Swedish National Pension Fund Has $6.18 Million Position in Credo Technology Group Holding Ltd. $CRDO

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 93.1% in the first quarter, HoldingsChannel reports. The firm owned 65,850 shares of the company’s stock after purchasing an additional 31,750 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Credo Technology Group were worth $6,181,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Credo Technology Group by 16.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock worth $80,000 after buying an additional 77 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in Credo Technology Group by 2.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company’s stock valued at $741,000 after buying an additional 100 shares during the last quarter. Spirepoint Private Client LLC increased its holdings in Credo Technology Group by 6.6% during the 4th quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company’s stock valued at $243,000 after purchasing an additional 105 shares during the period. Crewe Advisors LLC increased its stake in shares of Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after buying an additional 106 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Credo Technology Group by 14.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 861 shares of the company’s stock worth $125,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds 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: 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

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $241.91 on Monday. The stock has a market cap of $45.11 billion, a price-to-earnings ratio of 97.54, a PEG ratio of 1.11 and a beta of 3.20. The company has a 50 day simple moving average of $220.92 and a two-hundred day simple moving average of $160.57. Credo Technology Group Holding Ltd. has a 12 month low of $86.49 and a 12 month high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last posted its 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 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 analyst estimates of $431.80 million. During the same period last year, the company earned $0.20 earnings per share. Credo Technology Group’s revenue for the quarter was up 157.0% compared to the same quarter last year. Analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Insider Transactions at Credo Technology Group

In other news, Director Sylvia Acevedo sold 2,208 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $211.00, for a total value of $465,888.00. Following the transaction, the director directly owned 16,337 shares of the company’s stock, valued at approximately $3,447,107. This trade represents a 11.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Fariba Danesh sold 1,100 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $236.34, for a total value of $259,974.00. Following the transaction, the director directly owned 7,017 shares in the company, valued at $1,658,397.78. This trade represents a 13.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 363,372 shares of company stock worth $76,926,125 in the last ninety days. Company insiders own 11.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Rothschild & Co Redburn started coverage on shares of Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 target price for the company. Bank of America upped their price objective on Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Susquehanna boosted their target price on shares of Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a research note on Tuesday, June 2nd. Evercore started coverage on shares of Credo Technology Group in a report on Monday, June 22nd. They set an “outperform” rating and a $325.00 target price on the stock. Finally, Roth Mkm increased their price target on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $263.11.

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.