National Pension Service Makes New Investment in Credo Technology Group Holding Ltd. $CRDO

National Pension Service purchased a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 269,813 shares of the company’s stock, valued at approximately $38,823,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRDO. Bank of America Corp DE boosted its holdings 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 worth $331,710,000 after buying an additional 1,406,752 shares in the last quarter. Rafferty Asset Management LLC bought a new position in shares of Credo Technology Group in the 3rd quarter worth $183,553,000. Alliancebernstein L.P. lifted its holdings in shares of Credo Technology Group by 66.0% in 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. JPMorgan Chase & Co. lifted its holdings in shares of 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. Finally, Marshall Wace LLP lifted its holdings in shares of Credo Technology Group by 2,537.7% in the 3rd quarter. Marshall Wace LLP now owns 1,150,000 shares of the company’s stock worth $167,452,000 after purchasing an additional 1,106,401 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRDO has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Credo Technology Group in a report on Monday, April 13th. They issued a “buy” rating and a $175.00 target price on the stock. Craig Hallum reiterated a “buy” rating and issued a $200.00 target price on shares of Credo Technology Group in a report on Tuesday, March 3rd. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. The Goldman Sachs Group increased their target price on Credo Technology Group from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $210.65.

Trending Headlines about Credo Technology Group

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?

Insider Buying and Selling

In related news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction on 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 directly owned 6,024,870 shares of the company’s stock, valued at approximately $1,078,391,481.30. This represents a 0.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of the stock in a transaction on Tuesday, April 14th. The shares were 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 of the company’s stock, valued at $66,192,273.14. The trade was a 1.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 386,608 shares of company stock valued at $50,371,351. 11.84% of the stock is owned by corporate insiders.

Credo Technology Group Stock Performance

NASDAQ CRDO opened at $236.03 on Monday. The firm has a market capitalization of $43.54 billion, a P/E ratio of 131.13 and a beta of 3.22. The business has a fifty day simple moving average of $158.17 and a 200 day simple moving average of $144.80. Credo Technology Group Holding Ltd. has a 12 month low of $59.21 and a 12 month high of $240.81.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The business had revenue of $407.01 million during the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.Credo Technology Group’s quarterly revenue was up 201.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. As a group, sell-side analysts predict that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current fiscal year.

Credo Technology Group 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.