Credo Technology Group Holding Ltd. $CRDO Shares Bought by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC lifted its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 4.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 418,991 shares of the company’s stock after acquiring an additional 19,685 shares during the period. Credo Technology Group accounts for 1.9% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 19th biggest holding. Zevenbergen Capital Investments LLC owned about 0.22% of Credo Technology Group worth $81,615,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CRDO. Corient Private Wealth LLC raised its holdings in shares of Credo Technology Group by 239,024.5% during the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after buying an additional 3,597,318 shares during the last quarter. Atreides Management LP bought a new position in Credo Technology Group in the 1st quarter worth approximately $102,434,000. The Manufacturers Life Insurance Company increased its position in Credo Technology Group by 192.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock valued at $98,290,000 after acquiring an additional 688,596 shares during the period. H&H International Investment LLC increased its position in Credo Technology Group by 431.6% in the 1st quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock valued at $70,515,000 after acquiring an additional 609,900 shares during the period. Finally, Scge Management L.P. bought a new stake in Credo Technology Group during the 4th quarter valued at $82,017,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CRDO. TD Cowen increased their price target on Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Bank of America reduced their price objective on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, September 2nd. Evercore set a $292.00 target price on shares of Credo Technology Group in a research report on Wednesday, September 2nd. Barclays raised their target price on shares of Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, Rosenblatt Securities boosted their price target on shares of Credo Technology Group from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Credo Technology Group currently has a consensus rating of “Moderate Buy” and an average price target of $262.67.

Credo Technology Group Trading Down 3.7%

CRDO stock traded down $8.15 during trading hours on Thursday, hitting $211.86. 9,541,467 shares of the stock traded hands, compared to its average volume of 7,543,982. The stock has a 50-day simple moving average of $208.72 and a 200 day simple moving average of $200.98. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67. The company has a market cap of $39.82 billion, a P/E ratio of 75.40, a P/E/G ratio of 0.88 and a beta of 3.25.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The firm had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $473.30 million. During the same period in the previous year, the business earned $0.52 earnings per share. Credo Technology Group’s revenue for the quarter was up 114.7% compared to the same quarter last year. Analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s retimer business is gaining momentum, supported by strong AI infrastructure demand, record revenue and new product adoption. Retimers help maintain signal quality in high-speed data-center connections, positioning the portfolio as an important growth engine. CRDO’s Retimer Business Gains Steam: Can the Momentum Continue?
• Positive Sentiment: Credo joined the Open Co-Packaged Interface Multi-Source Agreement, a consortium focused on interoperable near-package and co-packaged optics. The move could expand Credo’s role in next-generation AI networking and create additional long-term growth opportunities. Credo Technology Joins the Co-Packaged Optics Race
• Positive Sentiment: An investor analysis argues that the market may be underestimating Credo’s optical-connectivity opportunity, framing the recent weakness as a potential buying opportunity. Credo: The Market Is Wrong About Optics
• Neutral Sentiment: Analysts remain broadly constructive, with a “Moderate Buy” consensus and an average price target of $262.67, although several firms recently reduced their targets. Credo’s prior quarter showed 114.7% year-over-year revenue growth and earnings above estimates.
• Negative Sentiment: CTO Chi Cheng sold 27,500 shares for approximately $6.1 million. The transaction was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding, and represented only 0.49% of his holdings, reducing its significance but still adding near-term selling pressure. Credo CTO Sells $6.1 Million in Stock
• Negative Sentiment: Credo trades at a high earnings multiple, leaving the stock sensitive to profit-taking or any concerns that AI-driven growth and its optics expansion may not justify current expectations.

Insider Activity at Credo Technology Group

In related news, COO Yat Lam sold 55,441 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $213.02, for a total transaction of $11,810,041.82. Following the completion of the sale, the chief operating officer directly owned 2,529,169 shares in the company, valued at approximately $538,763,580.38. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $193.12, for a total transaction of $5,310,800.00. Following the completion of the transaction, the chief technology officer owned 5,689,897 shares in the company, valued at approximately $1,098,832,908.64. This trade represents a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 428,376 shares of company stock worth $87,012,128 in the last ninety days. Corporate insiders own 9.06% of the company’s stock.

Credo Technology Group Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.