Handelsbanken Fonder AB Sells 143,730 Shares of Credo Technology Group Holding Ltd. $CRDO

Handelsbanken Fonder AB cut its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 51.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 133,970 shares of the company’s stock after selling 143,730 shares during the quarter. Handelsbanken Fonder AB’s holdings in Credo Technology Group were worth $36,433,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Corient Private Wealth LLC raised its holdings in Credo Technology Group by 239,024.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after buying an additional 3,597,318 shares during the period. Amundi boosted its holdings in shares of Credo Technology Group by 28,478.2% in the fourth quarter. Amundi now owns 1,559,796 shares of the company’s stock valued at $224,439,000 after buying an additional 1,554,338 shares during the period. Janus Henderson Group PLC increased its position in shares of Credo Technology Group by 841.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company’s stock worth $228,979,000 after acquiring an additional 1,422,391 shares in the last quarter. Bank of America Corp DE increased its position in shares of Credo Technology Group by 161.5% during the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after acquiring an additional 1,406,752 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after acquiring an additional 1,218,504 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Up 3.2%

Shares of CRDO opened at $247.69 on Wednesday. Credo Technology Group Holding Ltd. has a twelve month low of $86.49 and a twelve month high of $308.67. The stock has a market capitalization of $46.19 billion, a P/E ratio of 99.88, a P/E/G ratio of 1.10 and a beta of 3.23. The company has a 50 day moving average of $238.08 and a 200-day moving average of $176.08.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The business had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was up 157.0% on a year-over-year basis. On average, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

Key Credo Technology Group News

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

• Positive Sentiment: Credo will contribute its OmniConnect scale-in interconnect solution to the Open Compute Project, targeting the “memory wall” challenge in AI inference. Standardization could broaden adoption of Credo’s connectivity technology across AI data-center systems. Credo to Contribute OmniConnect Scale-In Interconnect Solution to the Open Compute Project
• Positive Sentiment: Analyst and industry commentary continues to highlight Credo as a beneficiary of accelerating AI infrastructure demand, including the expected ramp of AMD’s Helios rack-scale systems and broader spending on high-speed interconnects and optical components. AMD’s Helios Launch Could Create Winners Beyond AMD Stock
• Positive Sentiment: Recent investment commentary argues that AI expansion remains in its early stages and that Credo’s connectivity products could benefit from rising data-center bandwidth requirements. Additional coverage points to stronger demand and growing investor awareness of the company. Credo: Don’t Get Left Behind, AI Expansion Is Just Beginning
• Neutral Sentiment: Credo scheduled its fiscal first-quarter 2027 earnings conference call for September 1, covering the quarter ended August 1. The announcement itself contains no financial results, but the upcoming report may become the next major catalyst for the stock. Credo Schedules First Quarter Fiscal Year 2027 Financial Results Conference Call
• Neutral Sentiment: The newly launched Aura VettaFi Photonics Index ETF provides broader exposure to AI optics and photonics companies. This may improve sector visibility, but the report does not identify a direct investment or inclusion effect for Credo. New Aura VettaFi Photonics Index ETF Targets AI Optics Infrastructure
• Negative Sentiment: The reported short-interest data shows zero shares short and a zero-day short-interest ratio, with an invalid percentage change. Because the figures appear erroneous or incomplete, they provide no reliable bearish or bullish signal.

Analyst Ratings Changes

CRDO has been the topic of several research reports. Rothschild & Co Redburn began coverage on shares of Credo Technology Group in a research report on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective on the stock. Rosenblatt Securities increased their target price on Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Stifel Nicolaus lifted their price target on Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Barclays lifted their price target on 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, Zacks Research lowered Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and an average target price of $266.17.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,473 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $209.53, for a total transaction of $5,756,417.69. Following the sale, the chief technology officer directly owned 5,772,397 shares of the company’s stock, valued at $1,209,490,343.41. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Tung Lam sold 55,441 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $213.02, for a total transaction of $11,810,041.82. Following the sale, the chief operating officer directly owned 2,529,169 shares in the company, valued at $538,763,580.38. This trade represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 435,076 shares of company stock worth $101,043,506. Insiders own 11.84% of the company’s stock.

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.