Empowered Funds LLC Sells 12,869 Shares of Credo Technology Group Holding Ltd. $CRDO

Empowered Funds LLC reduced its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 47.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,096 shares of the company’s stock after selling 12,869 shares during the period. Empowered Funds LLC’s holdings in Credo Technology Group were worth $3,833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. M&T Bank Corp boosted its stake 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 valued at $1,932,000 after buying an additional 10,888 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Credo Technology Group by 2.2% in the first quarter. California State Teachers Retirement System now owns 240,886 shares of the company’s stock worth $22,612,000 after acquiring an additional 5,113 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of Credo Technology Group by 5.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 264,181 shares of the company’s stock worth $38,013,000 after acquiring an additional 13,881 shares during the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $469,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Credo Technology Group by 154.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,468 shares of the company’s stock valued at $4,672,000 after purchasing an additional 19,708 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group Price Performance

Shares of CRDO opened at $206.63 on Wednesday. The business has a 50-day moving average of $235.81 and a 200-day moving average of $188.53. The company has a market capitalization of $38.83 billion, a price-to-earnings ratio of 83.32, a price-to-earnings-growth ratio of 1.02 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. The business had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $473.30 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The firm’s revenue was up 114.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 4.89 EPS 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 reported fiscal Q1 earnings of $1.20 per share, above the $1.17 consensus estimate, while revenue of $479 million exceeded expectations of $473.3 million. Revenue increased 114.7% year over year, and EPS more than doubled from $0.52 in the prior-year quarter. Credo Technology Group Q1 Earnings and Revenues Beat Estimates
• Positive Sentiment: Fiscal Q2 revenue guidance of $525 million to $535 million is above the $513.8 million analyst consensus, reinforcing expectations for continued demand from AI infrastructure and high-speed connectivity customers. Credo Technology Group Earnings Report
• Positive Sentiment: Credo joined the Open CPX MSA organization, supporting interoperable near-package and co-packaged optical interconnects for AI infrastructure. The initiative could broaden the company’s technology ecosystem over time. Credo Joins Open CPX MSA Organization
• Neutral Sentiment: Analysts’ consensus price target implies substantial potential upside, and recent earnings-estimate revisions have been favorable; however, price targets are not reliable indicators by themselves. Wall Street Analysts on Credo Technology
• Negative Sentiment: Investors appeared more concerned about margin pressure than the earnings beat, contributing to the stock’s decline in after-hours and subsequent trading. Credo Shares Fall as Margin Pressure Overshadows Earnings Beat
• Negative Sentiment: CRDO’s valuation leaves little room for disappointment: the stock has gained more than 12-fold over three years and trades at roughly 90 times earnings. Concerns about hyperscaler concentration, optical margins and whether AI growth is already priced in are amplifying volatility. Is Credo Technology Priced for Perfection?

Insider Activity

In other news, COO Yat Tung Lam sold 55,441 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $213.02, for a total transaction of $11,810,041.82. Following the completion of the sale, the chief operating officer directly owned 2,529,169 shares in the company, valued at $538,763,580.38. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $243.06, for a total transaction of $6,684,150.00. Following the sale, the chief technology officer owned 5,882,370 shares of the company’s stock, valued at approximately $1,429,768,852.20. This trade represents a 0.47% 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 have sold a total of 435,076 shares of company stock worth $101,043,506 over the last quarter. Company insiders own 9.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CRDO shares. Jefferies Financial Group lifted their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Barclays increased their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Mizuho boosted their target price on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Wall Street Zen cut shares of Credo Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Roth Capital increased their price target on Credo Technology Group from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Credo Technology Group currently has an average rating of “Moderate Buy” and an average price target of $268.39.

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.