California Public Employees Retirement System Grows Stock Position in Credo Technology Group Holding Ltd. $CRDO

California Public Employees Retirement System lifted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 3.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 281,481 shares of the company’s stock after purchasing an additional 10,302 shares during the period. California Public Employees Retirement System’s holdings in Credo Technology Group were worth $26,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Crewe Advisors LLC raised its position in Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares during the period. Reflection Asset Management purchased a new stake in shares of Credo Technology Group in the 4th quarter worth $25,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Credo Technology Group in the 4th quarter worth $25,000. Flagship Harbor Advisors LLC bought a new position in Credo Technology Group in the 4th quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Credo Technology Group in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Transactions at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 3,790 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $258.71, for a total value of $980,510.90. Following the sale, the chief technology officer directly owned 140,358 shares in the company, valued at approximately $36,312,018.18. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total value of $1,863,770.40. Following the transaction, the chief financial officer directly owned 504,708 shares of the company’s stock, valued at approximately $124,097,603.04. The trade was a 1.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 302,162 shares of company stock valued at $70,897,646. 11.84% of the stock is owned by company insiders.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $228.27 on Thursday. The firm has a fifty day moving average price of $233.42 and a 200 day moving average price of $168.92. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67. The firm has a market cap of $42.57 billion, a price-to-earnings ratio of 92.04, a P/E/G ratio of 1.02 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The company had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. Credo Technology Group’s revenue for the quarter was up 157.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS. As a group, research analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Several recent write-ups highlight Credo as a leading AI connectivity play, benefiting from hyperscalers’ need for higher-speed connections in data centers and positioning the company as a “backbone” supplier for AI infrastructure. Article Title
• Positive Sentiment: Articles citing fund commentary suggest Credo’s Q2 strength is being driven by rising connectivity demand, which is reinforcing the market’s view that the company can keep growing rapidly as AI spending expands. Article Title
• Positive Sentiment: Recent coverage also points to a bullish thesis upgrade and price-target discussion, implying that some investors see the recent pullback as a buying opportunity rather than a trend reversal. Article Title
• Neutral Sentiment: One comparison piece versus Marvell argues that Credo and Marvell both benefit from AI connectivity demand, but their growth, margin, and outlook profiles differ, which keeps investor debate focused on relative valuation and execution. Article Title
• Negative Sentiment: Some commentary warns that CRDO has been highly volatile, including a sharp weekly sell-off and concerns that the stock may have already priced in much of the AI optimism, which could limit near-term upside. Article Title

Wall Street Analyst Weigh In

Several analysts have issued reports on CRDO shares. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Roth Capital lifted their price objective on Credo Technology Group from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Needham & Company LLC increased their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Stifel Nicolaus raised their target price on shares of Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Rosenblatt Securities lifted their price target on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Two research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $266.17.

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.