Alta Park Capital LP Makes New $9.77 Million Investment in Credo Technology Group Holding Ltd. $CRDO

Alta Park Capital LP bought a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 67,868 shares of the company’s stock, valued at approximately $9,766,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRDO. Amundi boosted its stake in Credo Technology Group by 28,478.2% during the 4th quarter. Amundi now owns 1,559,796 shares of the company’s stock worth $224,439,000 after purchasing an additional 1,554,338 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after acquiring an additional 1,406,752 shares during the period. Rafferty Asset Management LLC purchased a new position in shares of Credo Technology Group during the 3rd quarter worth $183,553,000. Alliancebernstein L.P. raised its holdings in shares of Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after acquiring an additional 1,218,504 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Credo Technology Group by 2,537.7% during the 3rd quarter. Marshall Wace LLP now owns 1,150,000 shares of the company’s stock worth $167,452,000 after acquiring an additional 1,106,401 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the sale, the chief financial officer directly owned 501,873 shares in the company, valued at $125,207,276.04. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Fariba Danesh sold 1,100 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $236.34, for a total transaction of $259,974.00. Following the sale, the director owned 7,017 shares in the company, valued at $1,658,397.78. This trade represents a 13.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 389,384 shares of company stock valued at $66,025,968. 11.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRDO has been the topic of several analyst reports. Rosenblatt Securities lifted their price target on Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Rothschild & Co Redburn initiated coverage on Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 price target on the stock. Roth Mkm lifted their price target on Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Needham & Company LLC lifted their price target on Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, June 1st. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $248.41.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $249.33 on Thursday. The firm has a market capitalization of $46.50 billion, a PE ratio of 100.54, a price-to-earnings-growth ratio of 1.26 and a beta of 3.22. The firm’s 50-day moving average is $193.31 and its two-hundred day moving average is $152.66. Credo Technology Group Holding Ltd. has a 1 year low of $80.60 and a 1 year high of $270.21.

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

More Credo Technology Group News

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

• Positive Sentiment: Credo’s blockbuster FY26 results and strong guidance continue to fuel bullish sentiment, with investors focused on rapid revenue growth, earnings beats, and momentum in AI connectivity. Credo Technology Group Holding (CRDO) Is Up 21.2% After Earnings Beat And DustPhotonics Deal – What’s Changed
• Positive Sentiment: Analysts and media coverage remain constructive, highlighting Credo’s exposure to AI infrastructure spending, optical networking growth, and improving margins, which supports the stock’s rally. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Positive Sentiment: Mizuho reiterated an Outperform rating and lifted its price target to $290, adding to the bullish analyst backdrop after the earnings report. Mizuho Reiterates Outperform on Credo Technology Group Holding Ltd (CRDO)
• Neutral Sentiment: CFO Daniel Fleming sold 40,000 shares under a pre-arranged 10b5-1 plan tied to tax withholding on vested equity awards, which is not usually viewed as a negative signal on fundamentals. SEC Form 4 filing
• Neutral Sentiment: Some recent commentary suggests the valuation is becoming stretched after a major run-up, so investors may be watching closely for continued execution in margins, customer ramps, and guidance. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

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.