Quantbot Technologies LP Cuts Holdings in Credo Technology Group Holding Ltd. $CRDO

Quantbot Technologies LP lowered its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 95.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,058 shares of the company’s stock after selling 40,932 shares during the period. Quantbot Technologies LP’s holdings in Credo Technology Group were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. NewEdge Advisors LLC raised its holdings in Credo Technology Group by 128.4% in the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after acquiring an additional 3,972 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 worth $61,235,000 after acquiring an additional 589,151 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 acquiring an additional 7,107 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Credo Technology Group by 17.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 75,869 shares of the company’s stock valued at $7,025,000 after purchasing an additional 11,233 shares during the last quarter. Finally, Atria Investments Inc purchased a new stake in shares of Credo Technology Group in the 2nd quarter valued at approximately $239,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRDO. Roth Mkm decreased their price objective on shares of Credo Technology Group from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Stifel Nicolaus set a $200.00 target price on Credo Technology Group in a report on Tuesday, March 3rd. Craig Hallum restated a “buy” rating and issued a $200.00 price target on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Finally, Mizuho lowered their price objective on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $206.33.

Insider Transactions at Credo Technology Group

In related news, CEO William Joseph Brennan sold 18,016 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $127.69, for a total transaction of $2,300,463.04. Following the completion of the sale, the chief executive officer owned 252,625 shares in the company, valued at $32,257,686.25. This represents a 6.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $350,196.00. Following the transaction, the director directly owned 18,545 shares in the company, valued at $2,951,993.10. The trade was a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 861,101 shares of company stock worth $126,611,953 over the last 90 days. Company insiders own 11.84% of the company’s stock.

Key Credo Technology Group News

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

• Positive Sentiment: Huge Q3 beat and hypergrowth — Credo reported ~201.5% YoY revenue growth, an EPS beat and strong profitability metrics that validate rapid data?center demand and support long?term upside. Credo Technologies Hits Bottom: Now Is the Time to Buy
• Positive Sentiment: New ZeroFlap optics product could lift future margins and wins — Credo unveiled ZeroFlap optics aimed at much higher reliability and lower power for AI data centers, a product-market fit that could accelerate bookings if hyperscalers ramp. Can Accelerating ZeroFlap Optics Ramp Buoy Credo’s Growth Trajectory?
• Positive Sentiment: Industry momentum / peer catalysts — Broadcom’s Q1 strength has been cited as a tailwind for connectivity suppliers, with Credo named as a beneficiary of stronger hyperscaler capex. The Real Winner from Broadcom’s Q1 Earnings Is This 1 Lesser-Known Stock
• Neutral Sentiment: Institutional positioning and analyst coverage point to conviction but also mixed price targets — institutional accumulation is support, yet targets vary. Credo Technologies Hits Bottom: Now Is the Time to Buy
• Neutral Sentiment: Reported short?interest data appears inconsistent/garbled (zero shares / NaN increases); the print is unreliable and shouldn’t be taken as a clear bearish signal. (Data entries dated March 9–10.)
• Neutral Sentiment: Reference financials available for deeper due diligence (Barron’s company financial page). Credo Technology Group Holding Ltd. Financials
• Negative Sentiment: Near?term sentiment headwinds — the post?earnings period produced a sell?the?news reaction; management flagged some gross?margin compression and client concentration risks (three large hyperscaler customers), which can pressure the stock until further order visibility emerges. Credo Technologies Hits Bottom: Now Is the Time to Buy

Credo Technology Group Stock Down 3.1%

NASDAQ:CRDO opened at $112.33 on Wednesday. The company has a market capitalization of $20.72 billion, a PE ratio of 62.41 and a beta of 2.67. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $213.80. The stock’s 50 day moving average price is $128.47 and its 200 day moving average price is $143.44.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm’s revenue for the quarter was up 201.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. As a group, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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.