Apollon Wealth Management LLC Decreases Stake in Credo Technology Group Holding Ltd. $CRDO

Apollon Wealth Management LLC cut its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 35.7% in the 1st quarter, Holdings Channel reports. The fund owned 4,548 shares of the company’s stock after selling 2,530 shares during the period. Apollon Wealth Management LLC’s holdings in Credo Technology Group were worth $427,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. NewEdge Advisors LLC increased its position in shares of Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock worth $284,000 after acquiring an additional 3,972 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Credo Technology Group by 63.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after purchasing an additional 589,151 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Credo Technology Group by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock worth $12,480,000 after purchasing an additional 7,107 shares during the last quarter. CW Advisors LLC acquired a new position in shares of Credo Technology Group in the 2nd quarter valued at approximately $288,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Credo Technology Group by 198.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after purchasing an additional 333 shares in the last quarter. 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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho raised 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. Rothschild & Co Redburn started coverage on shares of Credo Technology Group in a report on Friday, May 1st. They issued a “buy” rating and a $206.00 price target on the stock. Evercore initiated coverage on shares of Credo Technology Group in a research note on Monday, June 22nd. They set an “outperform” rating and a $325.00 price objective on the stock. Rosenblatt Securities raised their price objective on shares of Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Finally, TD Cowen boosted their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Credo Technology Group currently has an average rating of “Buy” and a consensus price target of $263.11.

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $241.91 on Monday. Credo Technology Group Holding Ltd. has a twelve month low of $86.49 and a twelve month high of $308.67. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 97.54, a price-to-earnings-growth ratio of 1.11 and a beta of 3.20. The business has a 50 day simple moving average of $220.92 and a 200-day simple moving average of $160.57.

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

Insider Activity

In related news, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $118.25, for a total value of $3,251,875.00. Following the sale, the chief technology officer owned 6,134,870 shares of the company’s stock, valued at approximately $725,448,377.50. This trade represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the sale, the chief executive officer owned 367,327 shares in the company, valued at approximately $80,286,662.39. This represents a 13.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 363,372 shares of company stock valued at $76,926,125. Company insiders own 11.84% of the company’s stock.

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.