Profund Advisors LLC Purchases 7,622 Shares of Credo Technology Group Holding Ltd. $CRDO

Profund Advisors LLC increased its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 292.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,225 shares of the company’s stock after purchasing an additional 7,622 shares during the period. Profund Advisors LLC’s holdings in Credo Technology Group were worth $1,489,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Credo Technology Group by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,375,368 shares of the company’s stock valued at $1,516,195,000 after acquiring an additional 430,445 shares during the period. JPMorgan Chase & Co. lifted its stake in Credo Technology Group by 36.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock valued at $602,662,000 after purchasing an additional 1,739,844 shares during the last quarter. Geode Capital Management LLC grew its holdings in Credo Technology Group by 4.7% during the second quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock worth $334,740,000 after purchasing an additional 163,305 shares during the period. Alliancebernstein L.P. increased its position in Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after buying an additional 1,218,504 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after buying an additional 589,151 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRDO. Mizuho boosted their target price on Credo Technology Group from $165.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Zacks Research downgraded shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Barclays restated an “overweight” rating and set a $260.00 target price on shares of Credo Technology Group in a research note on Thursday, January 15th. TD Cowen reiterated a “buy” rating on shares of Credo Technology Group in a research note on Tuesday, December 2nd. Finally, Susquehanna increased their price target on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.69.

Credo Technology Group Stock Performance

CRDO stock opened at $134.72 on Wednesday. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $213.80. The company has a market capitalization of $24.33 billion, a PE ratio of 118.18 and a beta of 2.65. The company’s 50-day simple moving average is $143.01 and its 200 day simple moving average is $142.92.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Monday, December 1st. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.18. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The business had revenue of $268.03 million during the quarter, compared to analysts’ expectations of $234.99 million. During the same quarter in the previous year, the company earned $0.07 EPS. The business’s revenue was up 272.1% on a year-over-year basis. On average, analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $127.37, for a total transaction of $3,502,675.00. Following the sale, the chief technology officer owned 6,299,870 shares of the company’s stock, valued at $802,414,441.90. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sylvia Acevedo sold 2,200 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $159.18, for a total value of $350,196.00. Following the transaction, the director owned 18,545 shares in the company, valued at approximately $2,951,993.10. This trade represents a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 917,976 shares of company stock valued at $136,567,647 in the last quarter. Company insiders own 11.84% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Company preliminary Q3 revenue guidance of $404M–$408M significantly beat prior guidance/consensus, and Credo scheduled a Q3 results call — this is the primary catalyst lifting the stock as it signals strong hyperscaler and AI networking demand. Business Wire: Credo Provides Preliminary Q3 Revenue Results
• Positive Sentiment: Analysts and media emphasize the beat: Zacks and Schaeffer highlight that the preliminary results and raised forecast point to surging hyperscaler/AI networking demand — supportive for forward revenue and margin outlook. Zacks: CRDO Up on Preliminary Q3 Revenue Beat
• Positive Sentiment: Schaeffer and other outlets note the stock is trading on the preliminary beat and raised outlook ahead of formal earnings, which can sustain momentum into the official release. Schaeffers: Chip Stock Extends Rebound
• Positive Sentiment: Needham reaffirmed its Buy rating and set a $220 price target (~material upside vs. current levels), providing fresh analyst support for the rally. Benzinga: Needham Reaffirms Buy
• Neutral Sentiment: Coverage previews and analysis (Seeking Alpha) discuss Credo’s transition from a “cable story” to broader AI networking exposure and valuation dynamics; these provide context but are not immediate catalysts. Seeking Alpha: Credo Earnings Preview
• Neutral Sentiment: Market headlines (Benzinga, Investing.com) flagged Credo among premarket movers and broader futures strength; useful for sentiment but secondary to company results. Benzinga: Why Is Credo Soaring?
• Negative Sentiment: Short?interest data in the feed appears to be a reporting glitch (zeros/NaN); if genuine increases in shorting emerge later, that could add volatility, but current data is inconclusive. (Entry reports short interest total = 0 with NaN changes.)

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.