Sumitomo Mitsui Trust Group Inc. Buys 300,935 Shares of Credo Technology Group Holding Ltd. $CRDO

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 3,194.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 310,355 shares of the company’s stock after purchasing an additional 300,935 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Credo Technology Group were worth $44,657,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRDO. Bank of America Corp DE boosted its position in 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 valued at $331,710,000 after purchasing an additional 1,406,752 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in Credo Technology Group during the third quarter valued at about $183,553,000. Alliancebernstein L.P. boosted 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 purchasing an additional 1,218,504 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Credo Technology Group by 18.3% in the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock worth $1,121,118,000 after acquiring an additional 1,190,522 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Credo Technology Group by 2,537.7% during the third quarter. Marshall Wace LLP now owns 1,150,000 shares of the company’s stock worth $167,452,000 after acquiring an additional 1,106,401 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Stock Up 5.5%

Credo Technology Group stock opened at $168.35 on Thursday. Credo Technology Group Holding Ltd. has a 52 week low of $33.04 and a 52 week high of $213.80. The company has a market capitalization of $31.05 billion, a price-to-earnings ratio of 93.53 and a beta of 2.72. The stock has a 50-day moving average price of $113.99 and a 200 day moving average price of $137.04.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue was up 201.5% compared to the same quarter last year. Research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Transactions at Credo Technology Group

In related news, COO Yat Tung Lam sold 3,180 shares of Credo Technology Group stock in a transaction dated Sunday, April 5th. The stock was sold at an average price of $101.45, for a total transaction of $322,611.00. Following the completion of the sale, the chief operating officer owned 2,610,329 shares of the company’s stock, valued at $264,817,877.05. The trade was a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Joseph Brennan sold 6,149 shares of Credo Technology Group stock in a transaction dated Sunday, April 5th. The stock was sold at an average price of $101.45, for a total value of $623,816.05. Following the sale, the chief executive officer directly owned 222,311 shares of the company’s stock, valued at $22,553,450.95. This trade represents a 2.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 386,419 shares of company stock worth $44,731,310. 11.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Mizuho dropped their price target on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Zacks Research lowered Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday. Barclays restated an “overweight” rating and set a $260.00 price target on shares of Credo Technology Group in a research note on Thursday, January 15th. Susquehanna dropped their price target on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research note on Tuesday, March 3rd. Finally, Rosenblatt Securities boosted their price target on Credo Technology Group from $125.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $207.50.

Credo Technology Group News Roundup

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

• Positive Sentiment: Major acquisition — Credo agreed to buy DustPhotonics (reported ~\$750M‑\$875M), adding silicon‑photonic optical transceiver tech that deepens its AI/data‑center exposure and could broaden revenue mix. Read More.
• Positive Sentiment: Broker support — Needham reaffirmed a Buy with a $220 target (large upside vs. recent levels), and Jefferies initiated/boosted coverage—both moves lend institutional credibility to the M&A/growth story. Read More.
• Positive Sentiment: Heavy call‑option buying — Unusually large call flows were reported, signaling speculative and hedged bullish positioning that can amplify intraday rallies. Read More.
• Neutral Sentiment: GHG disclosure — Credo published its FY2025 Greenhouse Gas report, increasing transparency on operational emissions (ESG item that supports longer‑term investor due diligence). Read More.
• Neutral Sentiment: M&A details forthcoming — Management hosted an M&A call/transcript is available; investors will be watching guidance on integration, expected synergies, timing and financing. Read More.
• Neutral Sentiment: Sector tailwinds — Broad Nasdaq/AI‑infrastructure strength has helped semiconductor/connectivity names like Credo alongside company‑specific news. Read More.
• Negative Sentiment: Insider selling — CTO Chi Fung Cheng executed Rule 10b5‑1 sales (recently disclosed), which some investors view as a modest near‑term liquidity event to monitor. Read More.
• Negative Sentiment: Analyst caution — Zacks trimmed its stance (from strong‑buy to hold), reflecting concerns that rapid gains and estimate revisions could limit near‑term upside for some investors. Read More.

About Credo Technology Group

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.