Axiom Investors LLC DE Lowers Holdings in Credo Technology Group Holding Ltd. $CRDO

Axiom Investors LLC DE decreased its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,200 shares of the company’s stock after selling 37,450 shares during the quarter. Axiom Investors LLC DE’s holdings in Credo Technology Group were worth $15,425,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in shares of 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 worth $331,710,000 after purchasing an additional 1,406,752 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Credo Technology Group during the third quarter valued at approximately $183,553,000. Alliancebernstein L.P. raised its holdings 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 purchasing an additional 1,218,504 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 1,190,522 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Credo Technology Group by 2,537.7% in the 3rd quarter. Marshall Wace LLP now owns 1,150,000 shares of the company’s stock worth $167,452,000 after purchasing an additional 1,106,401 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Key Credo Technology Group News

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

• Positive Sentiment: Traders bought more call options than usual, signaling bullish expectations for further upside in Credo Technology Group.
• Positive Sentiment: Recent commentary noted that CRDO has surged about 78% in three months, reflecting strong AI-driven demand and continued investor enthusiasm for the stock. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Another analysis said Credo remains one of the standout semiconductor names, outperforming the broader industry, sector, and the S&P 500 over the last quarter. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Neutral Sentiment: A market wrap-up article mentioned Credo as one of the stocks advancing during Tuesday’s session, but the main driver was broader market volatility rather than company-specific news. Stock Market Today: Nasdaq Ends Off Steeper Loss, Dow Rises After Downturn; Credo Technology Advances
• Neutral Sentiment: Insider selling by the CEO and a director may be weighing on sentiment somewhat, but these sales were relatively routine and do not necessarily signal a change in fundamentals.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $178.99, for a total transaction of $4,922,225.00. Following the completion of the sale, the chief technology officer owned 6,024,870 shares of the company’s stock, valued at approximately $1,078,391,481.30. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $218.57, for a total value of $12,017,852.88. Following the sale, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. This represents a 13.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 348,284 shares of company stock valued at $51,616,969 in the last ninety days. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group Price Performance

Shares of CRDO opened at $234.32 on Wednesday. Credo Technology Group Holding Ltd. has a one year low of $66.75 and a one year high of $252.70. The firm has a market capitalization of $43.22 billion, a P/E ratio of 94.48, a PEG ratio of 1.44 and a beta of 3.22. The business has a fifty day moving average of $174.95 and a 200 day moving average of $148.44.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data 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 36.99% and a net margin of 35.37%.The company had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Credo Technology Group’s revenue was up 157.0% compared to the same quarter last year. Analysts expect that Credo Technology Group Holding Ltd. will post 3.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. TD Cowen lifted their price objective on Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Stifel Nicolaus set a $250.00 price objective on Credo Technology Group in a report on Wednesday, May 27th. Rothschild & Co Redburn assumed coverage on Credo Technology Group in a report on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective for the company. Finally, Susquehanna lifted their price objective on Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a report on Tuesday, June 2nd. One investment analyst has 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.41.

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.