Commonwealth Equity Services LLC Raises Holdings in Credo Technology Group Holding Ltd. $CRDO

Commonwealth Equity Services LLC raised its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 51.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,546 shares of the company’s stock after acquiring an additional 18,881 shares during the period. Commonwealth Equity Services LLC’s holdings in Credo Technology Group were worth $8,088,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Credo Technology Group by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,375,368 shares of the company’s stock valued at $1,516,195,000 after purchasing an additional 430,445 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Credo Technology Group by 36.5% in the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock valued at $602,662,000 after buying an additional 1,739,844 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Credo Technology Group by 4.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock valued at $334,740,000 after buying an additional 163,305 shares during the period. Alliancebernstein L.P. lifted its position in Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after acquiring an additional 1,218,504 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Credo Technology Group by 63.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after acquiring an additional 589,151 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Credo Technology Group

In related news, COO Yat Tung Lam sold 370,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $153.19, for a total value of $56,680,300.00. Following the completion of the transaction, the chief operating officer owned 400,000 shares in the company, valued at $61,276,000. This represents a 48.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William Joseph Brennan sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $171.23, for a total transaction of $8,561,500.00. Following the transaction, the chief executive officer owned 1,942,502 shares in the company, valued at $332,614,617.46. This represents a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,088,276 shares of company stock valued at $167,068,167. 11.84% of the stock is currently owned by corporate insiders.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Positive momentum stories from retail/financial press that can attract buying interest — recent pieces highlight CRDO as a top momentum pick, increasing visibility among momentum traders and retail investors. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd. (CRDO) is a Great Choice
• Positive Sentiment: Additional bullish write-up from Zacks reinforcing the momentum narrative; such analyst/coverage pieces often boost short-term demand and can amplify moves after strong recent earnings. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd.
• Positive Sentiment: Follow-up coverage noting a recent price gain increases attention and may trigger additional buying from momentum/short-term traders. Credo Technology Group (NASDAQ:CRDO) Shares Up 6.2% – Should You Buy?
• Neutral Sentiment: Reported short-interest data shows effectively zero short interest (and an anomalous “NaN” change), suggesting little short-seller pressure to fuel squeezes — likely a data/reporting quirk rather than a market driver. (No link available.)
• Negative Sentiment: Insider selling by executives — CTO Chi Fung Cheng sold 30,000 shares (~$4.2M) (SEC Form 4 filed). Large insider sales by senior officers can weigh on sentiment even though insiders still hold large positions. CTO Form 4
• Negative Sentiment: Additional insider sales reported: multiple filings show the CFO sold roughly $597k and $547k, and the CEO sold roughly $1.41M and $1.32M in separate transactions — cumulative insider selling may temper gains. CFO Sells $597,412 CFO Sells $546,865 CEO Sells $1,411,873 CEO Sells $1,322,281

Credo Technology Group Stock Up 3.8%

Shares of CRDO stock opened at $156.07 on Tuesday. The company has a market cap of $28.19 billion, a P/E ratio of 136.90 and a beta of 2.66. The business has a 50 day moving average of $153.79 and a two-hundred day moving average of $137.61. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Monday, December 1st. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.18. The business had revenue of $268.03 million for the quarter, compared to analysts’ expectations of $234.99 million. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The company’s revenue for the quarter was up 272.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. Analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

CRDO has been the subject of a number of analyst reports. Stifel Nicolaus set a $160.00 price objective on shares of Credo Technology Group in a research report on Wednesday, October 1st. Roth Capital raised their price objective on Credo Technology Group from $170.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Monday, December 29th. JPMorgan Chase & Co. started coverage on Credo Technology Group in a research note on Friday, October 17th. They set an “overweight” rating and a $165.00 target price for the company. Finally, Wall Street Zen raised shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $217.08.

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.