Capital Research Global Investors Has $321.69 Million Stake in Credo Technology Group Holding Ltd. $CRDO

Capital Research Global Investors trimmed its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 41.0% during the third quarter, Holdings Channel reports. The firm owned 2,209,239 shares of the company’s stock after selling 1,537,071 shares during the quarter. Capital Research Global Investors’ holdings in Credo Technology Group were worth $321,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CRDO. JPMorgan Chase & Co. grew its position in Credo Technology Group by 36.5% during 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. Rafferty Asset Management LLC bought a new position in shares of Credo Technology Group in the 3rd quarter worth approximately $183,553,000. Alliancebernstein L.P. lifted its position in Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after buying an additional 1,218,504 shares during the period. 1832 Asset Management L.P. bought a new stake in Credo Technology Group during the second quarter worth about $82,479,000. Finally, Barclays PLC boosted its position in shares of Credo Technology Group by 181.0% in the 3rd quarter. Barclays PLC now owns 1,082,081 shares of the company’s stock worth $157,562,000 after purchasing an additional 696,983 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CRDO has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Credo Technology Group from $165.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Craig Hallum restated a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Wolfe Research set a $240.00 target price on shares of Credo Technology Group in a research note on Tuesday, December 2nd. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Finally, Stifel Nicolaus set a $200.00 price target on Credo Technology Group in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $206.33.

Key Headlines Impacting Credo Technology Group

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

Insider Buying and Selling

In other news, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $127.37, for a total transaction of $3,502,675.00. Following the completion of the sale, the chief technology officer owned 6,299,870 shares of the company’s stock, valued at $802,414,441.90. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Joseph Brennan sold 18,016 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 252,625 shares in the company, valued at $32,257,686.25. This represents a 6.66% 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 in the last 90 days. 11.84% of the stock is owned by insiders.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $112.33 on Wednesday. The stock has a 50-day moving average of $128.47 and a two-hundred day moving average of $143.44. The stock has a market cap of $20.72 billion, a PE ratio of 62.41 and a beta of 2.67. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.29. The firm 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 company’s revenue for the quarter was up 201.5% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. As a group, sell-side analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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.