Lord Abbett & CO. LLC Purchases 38,192 Shares of Credo Technology Group Holding Ltd. $CRDO

Lord Abbett & CO. LLC boosted its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 832,188 shares of the company’s stock after purchasing an additional 38,192 shares during the period. Lord Abbett & CO. LLC’s holdings in Credo Technology Group were worth $119,744,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Credo Technology Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock worth $2,386,449,000 after purchasing an additional 59,849 shares in the last quarter. JPMorgan Chase & Co. grew its position in Credo Technology Group by 18.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock worth $1,121,118,000 after purchasing an additional 1,190,522 shares in the last quarter. Geode Capital Management LLC grew its position in Credo Technology Group by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock worth $555,117,000 after purchasing an additional 184,676 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after acquiring an additional 1,218,504 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after acquiring an additional 1,406,752 shares during the period. 80.46% of the stock is owned by institutional investors.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, expanding its optical connectivity and silicon photonics portfolio for AI and cloud networking demand. The deal supports higher-speed products and could help drive growth as optical revenue ramps in coming fiscal years. Credo Technology (CRDO) Completes Acquisition of DustPhotonics to Expand Optical Connectivity Portfolio
• Positive Sentiment: Several articles highlighted Credo as a top-ranked or bullish AI-related stock, citing strong growth prospects, rising estimates, and favorable technical momentum. 3 Top Ranked Stocks Investors Can Buy Right Now
• Positive Sentiment: Analyst commentary remains constructive after earnings, with price target increases and expectations for continued strong revenue and earnings growth tied to AI infrastructure spending. Mizuho Raises PT on Credo Technology (CRDO) After FQ4 2026 Earnings
• Neutral Sentiment: Insider sales by Director Fariba Danesh and CTO Chi Fung Cheng may have added some caution, but the CTO sale was described as part of a pre-arranged plan to cover tax withholding on equity awards, limiting the bearish signal. Credo Technology Group (NASDAQ:CRDO) Director Fariba Danesh Sells 1,100 Shares
• Neutral Sentiment: Some coverage pointed to customer concentration risk, though management is working to diversify revenue beyond a few large hyperscale customers. Credo’s Diversification Push: Can It Cut Customer Concentration Risk?
• Negative Sentiment: A Seeking Alpha downgrade to “Hold” suggests some investors think the stock may already reflect much of the near-term upside, especially after its strong run and rich valuation. Credo: Don’t Chase This Winner Over The Cliff – Downgrade To Hold

Credo Technology Group Trading Down 5.3%

Shares of CRDO stock opened at $250.81 on Friday. The stock has a market capitalization of $46.26 billion, a P/E ratio of 101.13, a PEG ratio of 1.39 and a beta of 3.22. The firm’s 50 day moving average is $184.46 and its 200 day moving average is $150.79. Credo Technology Group Holding Ltd. has a 12 month low of $72.03 and a 12 month high of $270.21.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The company had revenue of $437.00 million for the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. Credo Technology Group’s revenue was up 157.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. On average, equities analysts predict that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Insider Activity at Credo Technology Group

In related news, Director Sylvia Acevedo sold 2,208 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $211.00, for a total transaction of $465,888.00. Following the sale, the director directly owned 16,337 shares in the company, valued at approximately $3,447,107. This represents a 11.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Fariba Danesh sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $236.34, for a total transaction of $259,974.00. Following the sale, the director owned 7,017 shares in the company, valued at $1,658,397.78. The trade was a 13.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 376,884 shares of company stock worth $59,014,018 in the last ninety days. Insiders own 11.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRDO. Craig Hallum reissued a “buy” rating and set a $200.00 target price on shares of Credo Technology Group in a research report on Tuesday, March 3rd. TD Cowen increased their target price on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $250.00 target price on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Mizuho increased their target price on shares of Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Needham & Company LLC increased their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.41.

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.