Credo Technology Group Holding Ltd. $CRDO Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 42.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,832 shares of the company’s stock after selling 35,072 shares during the period. Magnetar Financial LLC’s holdings in Credo Technology Group were worth $6,965,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CRDO. JPMorgan Chase & Co. raised its holdings in shares of Credo Technology Group by 36.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock worth $602,662,000 after purchasing an additional 1,739,844 shares during the period. Rafferty Asset Management LLC purchased a new stake in shares of Credo Technology Group during the 3rd quarter worth about $183,553,000. Alliancebernstein L.P. increased its position in 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 purchasing an additional 1,218,504 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in Credo Technology Group during the 2nd quarter worth approximately $82,479,000. Finally, Barclays PLC raised its holdings in Credo Technology Group by 181.0% in the third quarter. Barclays PLC now owns 1,082,081 shares of the company’s stock valued at $157,562,000 after buying an additional 696,983 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $153.16, for a total value of $7,658,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,892,502 shares of the company’s stock, valued at approximately $289,855,606.32. The trade was a 2.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Yat Tung Lam sold 370,000 shares of Credo Technology Group 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 transaction, the chief operating officer owned 400,000 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 861,101 shares of company stock worth $126,611,953. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Down 3.1%

NASDAQ CRDO opened at $112.33 on Wednesday. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $213.80. The business has a 50 day moving average price of $128.47 and a two-hundred day moving average price 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 (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The firm’s revenue for the quarter was up 201.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. Sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

CRDO has been the topic of a number of recent research reports. Roth Mkm reduced their price target on shares of Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Craig Hallum reissued a “buy” rating and issued a $200.00 target price on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Barclays restated an “overweight” rating and set a $260.00 target price on shares of Credo Technology Group in a report on Thursday, January 15th. New Street Research set a $240.00 price target on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Finally, Rosenblatt Securities lowered their price target on Credo Technology Group from $170.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $206.33.

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.