Credo Technology Group Holding Ltd. $CRDO Stock: Triumph Capital Management Raises Position

Triumph Capital Management boosted its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 151.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,185 shares of the company’s stock after buying an additional 4,323 shares during the quarter. Triumph Capital Management’s holdings in Credo Technology Group were worth $1,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRDO. Bank of America Corp DE lifted its holdings in shares of Credo Technology Group by 13.7% in the 2nd quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock worth $593,603,000 after acquiring an additional 262,479 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of 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 purchasing an additional 3,597,318 shares during the period. Atreides Management LP grew its holdings in Credo Technology Group by 3.5% during the 2nd quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock valued at $307,109,000 after purchasing an additional 38,052 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Credo Technology Group by 192.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock valued at $98,290,000 after purchasing an additional 688,596 shares during the last quarter. Finally, Value Aligned Research Advisors LLC bought a new position in Credo Technology Group during the 2nd quarter valued at about $91,919,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Trading Down 9.6%

Shares of CRDO traded down $19.08 during trading hours on Wednesday, reaching $179.23. 12,429,623 shares of the company traded hands, compared to its average volume of 7,584,630. The stock’s fifty day moving average price is $207.99 and its 200 day moving average price is $203.90. The firm has a market cap of $33.69 billion, a price-to-earnings ratio of 63.78, a PEG ratio of 0.80 and a beta of 3.25. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The company had revenue of $479.00 million for the quarter, compared to the consensus estimate of $473.30 million. During the same quarter last year, the firm posted $0.52 EPS. The firm’s revenue was up 114.7% compared to the same quarter last year. On average, research analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo launched its 1.6T ZeroFlap Active Light Cable for AI data centers. The optical interconnect is designed to reduce power consumption, improve reliability and extend connectivity reach, potentially expanding Credo’s addressable market as hyperscalers build larger AI clusters. Commercial shipments are expected around 2027. Credo Expands AI Connectivity Portfolio With 1.6T ZeroFlap ALC
• Positive Sentiment: The company launched an Open Compute Project workstream to standardize Short-Reach Micro-Emitter Optics. If specifications gain industry approval and adoption, the initiative could support future optical sales and help diversify Credo’s customer base. Credo Launches SRMO Standardization
• Positive Sentiment: Recent growth remains substantial. Credo’s latest quarterly revenue increased 114.7% year over year to $479 million, exceeding expectations, while EPS also beat consensus estimates. Analysts and bullish commentary point to AI connectivity demand and a projected fiscal 2027 revenue increase of more than 85%. Credo Revenue Outlook
• Neutral Sentiment: Credo is also expanding beyond cables through its OmniConnect Weaver memory technology, demonstrated with AMD’s Versal AI Edge platform. The opportunity could broaden its market, but the technology and optical products have not yet shipped at scale, leaving execution and commercialization risks. Credo Breaks the Memory Wall
• Negative Sentiment: The stock’s decline appears linked primarily to profit-taking across volatile AI infrastructure shares, with peer Astera Labs also weakening. Credo still trades at a valuation that assumes sustained execution, and roughly two major customers account for a significant portion of revenue. Does the Drop in Credo Stock Change Anything?
• Negative Sentiment: Several insiders sold shares, including CTO Chi Cheng, Director Pantas Sutardja and CFO Daniel Fleming. Each transaction was conducted under a pre-arranged Rule 10b5-1 plan, and the sellers retained substantial holdings, reducing the signal’s significance; nevertheless, the cluster of sales may weigh modestly on sentiment.

Analysts Set New Price Targets

Several analysts have issued reports on CRDO shares. Zacks Research downgraded shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Barclays boosted their target price on Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Susquehanna upped their target price on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. TD Cowen increased their price target on Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Finally, Evercore set a $292.00 price target on Credo Technology Group in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Credo Technology Group presently has an average rating of “Moderate Buy” and an average target price of $262.67.

Insider Transactions at Credo Technology Group

In other news, CTO Chi Cheng sold 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $193.12, for a total transaction of $5,310,800.00. Following the transaction, the chief technology officer directly owned 5,689,897 shares of the company’s stock, valued at approximately $1,098,832,908.64. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 55,441 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 2,529,169 shares in the company, valued at approximately $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. Insiders sold a total of 468,786 shares of company stock worth $95,025,003 over the last 90 days. Insiders own 9.06% of the company’s stock.

Credo Technology Group Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.