Credo Technology Group Holding Ltd. $CRDO Shares Sold by Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lowered its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 56.8% during the first quarter, HoldingsChannel.com reports. The firm owned 3,241 shares of the company’s stock after selling 4,259 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s holdings in Credo Technology Group were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRDO. Downshift Financial LLC acquired a new stake in shares of Credo Technology Group during the 1st quarter worth $188,000. Walser Wealth Management Company A Ltd Liability Co acquired a new position in Credo Technology Group in the first quarter valued at $226,000. Stephens Inc. AR boosted its holdings in Credo Technology Group by 26.1% in the first quarter. Stephens Inc. AR now owns 3,534 shares of the company’s stock valued at $332,000 after acquiring an additional 732 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Credo Technology Group by 21.9% during the first quarter. Stephens Investment Management Group LLC now owns 433,668 shares of the company’s stock valued at $40,708,000 after acquiring an additional 78,015 shares during the period. Finally, Astoria Portfolio Advisors LLC. purchased a new stake in Credo Technology Group during the first quarter valued at about $150,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Key Credo Technology Group News

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

• Positive Sentiment: CRDO was included on Zacks’ Rank #1 (Strong Buy) growth stocks list, which can boost investor confidence in the stock’s near-term outlook.
• Positive Sentiment: MarketBeat highlighted Credo as one of several quiet AI revenue accelerators, pointing to strong sales growth and solid Buy ratings that support the bullish case for the semiconductor supplier.
• Positive Sentiment: Seeking Alpha noted that Credo scored a major win from Nvidia’s delay, suggesting competitive timing could improve demand for Credo’s connectivity products.
• Positive Sentiment: Recent comparison pieces framing Credo against Marvell emphasized Credo’s triple-digit revenue growth and role in AI infrastructure, reinforcing a growth-stock narrative.
• Neutral Sentiment: Semiconductor stocks have been volatile, with intraday rallies and selloffs swinging with broader market weakness and geopolitics. These moves may be influencing CRDO alongside the rest of the chip sector.
• Negative Sentiment: One Seeking Alpha article argued that Credo’s next quarter may not be as strong, which could temper enthusiasm if investors worry that recent growth will slow.

Insider Buying and Selling

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $118.25, for a total transaction of $3,251,875.00. Following the sale, the chief technology officer owned 6,134,870 shares in the company, valued at $725,448,377.50. This represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $218.57, for a total value of $12,017,852.88. Following the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at approximately $80,286,662.39. This represents a 13.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 363,372 shares of company stock worth $76,926,125. Corporate insiders own 11.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRDO shares. Rosenblatt Securities raised their price objective on Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. TD Cowen increased their target price on shares of Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Stifel Nicolaus raised their price target on shares of Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a report on Monday, June 22nd. JPMorgan Chase & Co. lifted their price target on shares of Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Finally, Susquehanna boosted their price objective on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Credo Technology Group currently has an average rating of “Buy” and a consensus price target of $263.11.

Credo Technology Group Price Performance

CRDO opened at $258.69 on Thursday. The stock has a market capitalization of $48.24 billion, a PE ratio of 104.31, a P/E/G ratio of 1.13 and a beta of 3.20. The firm’s fifty day moving average price is $225.11 and its 200 day moving average price is $163.09. 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 announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.14. The company had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The firm’s revenue for the quarter was up 157.0% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

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.