Gulf International Bank UK Ltd Buys New Stake in Credo Technology Group Holding Ltd. $CRDO

Gulf International Bank UK Ltd purchased a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 4th quarter, Holdings Channel.com reports. The firm purchased 8,304 shares of the company’s stock, valued at approximately $1,195,000.

A number of other hedge funds also recently bought and sold shares of CRDO. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Credo Technology Group by 9.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after buying an additional 23,332 shares in the last quarter. Optimize Financial Inc purchased a new position in Credo Technology Group in the third quarter worth about $1,431,000. M&T Bank Corp grew its position in Credo Technology Group by 428.8% in the fourth quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock worth $1,932,000 after acquiring an additional 10,888 shares in the last quarter. FengHe Fund Management Pte. Ltd. increased its stake in Credo Technology Group by 5.7% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock worth $23,349,000 after acquiring an additional 8,769 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Credo Technology Group by 106.5% during the third quarter. New York State Common Retirement Fund now owns 146,134 shares of the company’s stock valued at $21,279,000 after purchasing an additional 75,369 shares during the period. Hedge funds and other 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 Upgrades and Downgrades

A number of brokerages have recently commented on CRDO. The Goldman Sachs Group lifted 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. Jefferies Financial Group started coverage on Credo Technology Group in a report on Monday, April 13th. They set a “buy” rating and a $175.00 price target on the stock. Susquehanna lowered their price target on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research report on Tuesday, March 3rd. Rothschild & Co Redburn started coverage on shares of Credo Technology Group in a research note on Friday, May 1st. They set a “buy” rating and a $206.00 price objective for the company. Finally, Craig Hallum reissued a “buy” rating and issued a $200.00 target price on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Two 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. Based on data from MarketBeat.com, Credo Technology Group presently has a consensus rating of “Buy” and a consensus price target of $210.65.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total value of $5,884,000.00. Following the completion of the sale, the chief executive officer directly owned 1,782,502 shares of the company’s stock, valued at $209,764,835.36. The trade was a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the completion of the transaction, the chief technology officer owned 6,272,370 shares in the company, valued at $737,630,712. This represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 386,608 shares of company stock worth $50,371,351. Company insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $236.03 on Friday. The stock has a 50 day moving average price of $158.17 and a 200 day moving average price of $144.98. Credo Technology Group Holding Ltd. has a 52-week low of $59.21 and a 52-week high of $240.81. The firm has a market capitalization of $43.54 billion, a P/E ratio of 131.13 and a beta of 3.17.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS 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 company had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. During the same quarter in the prior year, the company posted $0.25 EPS. Credo Technology Group’s quarterly revenue was up 201.5% on a year-over-year basis. As a group, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current 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.