Legal & General Group Plc Purchases 324,569 Shares of Credo Technology Group Holding Ltd. $CRDO

Legal & General Group Plc boosted its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 191.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 494,383 shares of the company’s stock after purchasing an additional 324,569 shares during the quarter. Legal & General Group Plc’s holdings in Credo Technology Group were worth $71,137,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Prospera Financial Services Inc raised its holdings in Credo Technology Group by 87.6% in the fourth quarter. Prospera Financial Services Inc now owns 3,681 shares of the company’s stock worth $530,000 after purchasing an additional 1,719 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in Credo Technology Group by 33.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,783 shares of the company’s stock worth $400,000 after purchasing an additional 702 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Credo Technology Group by 5,358.7% in the fourth quarter. Global Retirement Partners LLC now owns 4,094 shares of the company’s stock worth $589,000 after purchasing an additional 4,019 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in Credo Technology Group in the fourth quarter worth $448,000. Finally, IFP Advisors Inc raised its holdings in Credo Technology Group by 15.9% in the fourth quarter. IFP Advisors Inc now owns 6,684 shares of the company’s stock worth $962,000 after purchasing an additional 919 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRDO shares. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Susquehanna reduced their price target on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a report on Tuesday, March 3rd. Stifel Nicolaus set a $250.00 price target on Credo Technology Group in a report on Wednesday. Craig Hallum restated a “buy” rating and set a $200.00 price target on shares of Credo Technology Group in a report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Credo Technology Group presently has an average rating of “Buy” and an average target price of $210.65.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $236.03 on Friday. Credo Technology Group Holding Ltd. has a 1-year low of $59.21 and a 1-year high of $240.81. The business has a fifty day moving average price of $158.17 and a 200-day moving average price of $144.98. The company has a market capitalization of $43.54 billion, a PE ratio of 131.13 and a beta of 3.17.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company earned $0.25 earnings per share. The company’s revenue was up 201.5% on a year-over-year basis. On average, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daniel W. Fleming sold 7,580 shares of Credo Technology Group stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $152.63, for a total value of $1,156,935.40. Following the completion of the sale, the chief financial officer directly owned 433,678 shares in the company, valued at approximately $66,192,273.14. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $178.99, for a total value of $4,922,225.00. Following the completion of the sale, the chief technology officer owned 6,024,870 shares of the company’s stock, valued at $1,078,391,481.30. The trade was a 0.45% 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. Insiders have sold a total of 386,608 shares of company stock valued at $50,371,351 over the last quarter. Corporate insiders own 11.84% of the company’s stock.

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.