OPTIMAS CAPITAL Ltd Makes New $1.93 Million Investment in Credo Technology Group Holding Ltd. $CRDO

OPTIMAS CAPITAL Ltd purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,900 shares of the company’s stock, valued at approximately $1,928,000. Credo Technology Group makes up 2.6% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 12th largest holding.

Several other large investors have also added to or reduced their stakes in CRDO. GAMMA Investing LLC increased its position in Credo Technology Group by 2.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,986 shares of the company’s stock valued at $387,000 after purchasing an additional 51 shares during the period. City Center Advisors LLC lifted its position in shares of Credo Technology Group by 2.1% in the 2nd quarter. City Center Advisors LLC now owns 2,595 shares of the company’s stock worth $706,000 after purchasing an additional 53 shares during the period. Versant Capital Management Inc lifted its position in shares of Credo Technology Group by 8.0% in the 2nd quarter. Versant Capital Management Inc now owns 755 shares of the company’s stock worth $205,000 after purchasing an additional 56 shares during the period. Prentice Wealth Management LLC boosted its stake in shares of Credo Technology Group by 7.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 1,038 shares of the company’s stock valued at $202,000 after purchasing an additional 72 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Credo Technology Group by 28.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 337 shares of the company’s stock valued at $71,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

More Credo Technology Group News

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

• Positive Sentiment: A Seeking Alpha contributor upgraded Credo, arguing that the recent sell-off has gone far enough—potentially signaling that the lower share price has improved the risk-reward profile. Credo: The Sell-Off Has Done Its Job (Rating Upgrade)
• Positive Sentiment: Credo and Oracle secured Open Compute Project approval for two optical telemetry standards, supporting Credo’s role in developing connectivity and reliability for next-generation AI data centers. Credo and Oracle Drive AI Optical Innovation
• Neutral Sentiment: Coverage notes that Credo and other AI-hardware companies have delivered strong results, but cautions that supply bottlenecks and customer concentration could limit further gains. The AI Boom Is Creating a New Set of Winners
• Negative Sentiment: A broader tech-sector decline drove a steep drop in CRDO, as investors reassessed AI-related stocks. Separate coverage tied the sell-off to fears that political changes could pose a downside risk to AI spending; that concern, however, has not appeared in Credo’s guidance or analyst estimates. Tech selloff sends Credo Technology down Credo Sinks as Political Fears Weigh on AI Stocks

Insider Buying and Selling

In related news, CEO William Brennan sold 16,672 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $151.88, for a total transaction of $2,532,143.36. Following the sale, the chief executive officer owned 1,600,830 shares of the company’s stock, valued at $243,134,060.40. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $193.93, for a total transaction of $5,333,075.00. Following the completion of the sale, the chief technology officer owned 5,662,397 shares in the company, valued at approximately $1,098,108,650.21. This trade represents a 0.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 352,538 shares of company stock worth $67,200,077 in the last three months. 9.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 2nd. Weiss Ratings lowered shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Evercore set a $292.00 price objective on Credo Technology Group in a research report on Wednesday, September 2nd. Finally, TD Cowen upped their target price on Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. One 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’s stock. According to data from MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

Credo Technology Group Trading Up 7.3%

CRDO traded up $8.18 during trading on Friday, reaching $120.51. The stock had a trading volume of 9,638,654 shares, compared to its average volume of 8,559,310. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of 42.89, a P/E/G ratio of 0.56 and a beta of 3.29. The stock’s 50 day moving average is $178.67 and its two-hundred day moving average is $180.29. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business posted $0.52 EPS. The company’s quarterly revenue was up 114.7% on a year-over-year basis. On average, equities research analysts predict that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

About Credo Technology Group

Credo Technology Group designs and supplies high-speed connectivity solutions for data infrastructure, including data centers and networking systems. Its products help move data between processors, servers, switches and other equipment used in demanding, high-bandwidth environments.

The company’s offerings include active electrical cables, semiconductor and optical digital signal processing products, retimers, and other connectivity components. These solutions are used in applications such as cloud computing and artificial intelligence infrastructure.

Credo is headquartered in San Jose, California, and serves customers in the global data infrastructure market.