ProShare Advisors LLC Purchases 9,210 Shares of Credo Technology Group Holding Ltd. $CRDO

ProShare Advisors LLC boosted its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 30.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 39,276 shares of the company’s stock after purchasing an additional 9,210 shares during the period. ProShare Advisors LLC’s holdings in Credo Technology Group were worth $5,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRDO. JPMorgan Chase & Co. increased its stake in Credo Technology Group by 36.5% in the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock valued at $602,662,000 after acquiring an additional 1,739,844 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Credo Technology Group by 66.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after purchasing an additional 1,218,504 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Credo Technology Group in the 2nd quarter valued at $82,479,000. Invesco Ltd. raised its holdings in shares of Credo Technology Group by 160.7% during the 2nd quarter. Invesco Ltd. now owns 1,118,119 shares of the company’s stock worth $103,527,000 after buying an additional 689,202 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Credo Technology Group by 63.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after buying an additional 589,151 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $153.16, for a total value of $7,658,000.00. Following the transaction, the chief executive officer directly owned 1,892,502 shares of the company’s stock, valued at $289,855,606.32. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Yat Tung Lam sold 370,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $153.19, for a total value of $56,680,300.00. Following the completion of the sale, the chief operating officer owned 400,000 shares in the company, valued at $61,276,000. The trade was a 48.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 917,976 shares of company stock valued at $136,567,647. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group News Summary

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

• Positive Sentiment: Company raised near?term growth targets and guided materially higher revenue (management now projecting ~200%+ Y/Y growth and multi?year upside), a key driver of the recent rally. Credo Technology (CRDO) Climbs 9% as Firm Eyes ‘More-Than-Triple’ Revenue Growth in Next 2 Years
• Positive Sentiment: Independent research and sell?side support picked up — Needham issued a Buy rating, adding institutional validation for the growth story. Needham Buy Rating
• Positive Sentiment: Analysts and media continue to highlight Credo’s strong earnings?surprise history and the potential to beat upcoming estimates, supporting upside expectations. Zacks: Poised to Beat
• Positive Sentiment: Industry narratives (AI infrastructure demand) favor Credo’s connectivity products — mainstream outlets are naming Credo as an AI?infrastructure play. Fool: AI Infrastructure Picks
• Neutral Sentiment: Short?interest data published recently appears unreliable (reports showing 0 shares / NaN changes); no clear short squeeze signal can be inferred from those figures.
• Negative Sentiment: Some analysts warn the current rally may be partly priced in and that optical market dynamics could create headwinds later — a caution that can prompt profit?taking. Seeking Alpha: Optical Headwinds
• Negative Sentiment: After the recent surge, commentators flag limited immediate upside and the potential for a short?term pullback as investors lock in gains; valuation remains high (P/E and forward multiples elevated), raising sensitivity to any execution missteps. Zacks: Is Further Upside Left?

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRDO. JPMorgan Chase & Co. started coverage on Credo Technology Group in a research report on Friday, October 17th. They issued an “overweight” rating and a $165.00 target price on the stock. Wolfe Research set a $240.00 price target on shares of Credo Technology Group in a report on Tuesday, December 2nd. New Street Research set a $240.00 price objective on shares of Credo Technology Group in a research report on Tuesday, December 2nd. TD Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Finally, Barclays reaffirmed an “overweight” rating and set a $260.00 target price on shares of Credo Technology Group in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.69.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $121.78 on Friday. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $213.80. The firm has a market cap of $22.00 billion, a PE ratio of 106.83 and a beta of 2.65. The company has a 50 day simple moving average of $140.61 and a 200 day simple moving average of $142.68.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Monday, December 1st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.18. The firm had revenue of $268.03 million during the quarter, compared to the consensus estimate of $234.99 million. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The company’s revenue for the quarter was up 272.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share 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.