Revisor Wealth Management LLC Increases Position in Credo Technology Group Holding Ltd. $CRDO

Revisor Wealth Management LLC grew its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 151.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,477 shares of the company’s stock after buying an additional 5,709 shares during the period. Revisor Wealth Management LLC’s holdings in Credo Technology Group were worth $890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRDO. NewEdge Advisors LLC boosted its holdings in Credo Technology Group by 128.4% during the 1st quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after acquiring an additional 3,972 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Credo Technology Group by 63.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after purchasing an additional 589,151 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Credo Technology Group by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock worth $12,480,000 after purchasing an additional 7,107 shares during the last quarter. CW Advisors LLC purchased a new stake in shares of Credo Technology Group during the second quarter valued at $288,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Credo Technology Group by 198.2% during the second quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after purchasing an additional 333 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $118.25, for a total transaction of $3,251,875.00. Following the transaction, the chief technology officer directly owned 6,134,870 shares in the company, valued at approximately $725,448,377.50. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 40,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the transaction, the chief financial officer directly owned 501,873 shares in the company, valued at approximately $125,207,276.04. The trade was a 7.38% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 390,872 shares of company stock valued at $79,763,850. Company insiders own 11.84% of the company’s stock.

Key Credo Technology Group News

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo’s Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Analyst Upgrades and Downgrades

Several research firms recently commented on CRDO. Evercore started coverage on shares of Credo Technology Group in a research note on Monday, June 22nd. They issued an “outperform” rating and a $325.00 price target on the stock. Bank of America boosted their price objective on shares of Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. TD Cowen upped 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 note on Tuesday, June 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $250.00 target price on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Finally, Rothschild & Co Redburn began coverage on shares of Credo Technology Group in a research report on Friday, May 1st. They set a “buy” rating and a $206.00 target price on the stock. Two 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 MarketBeat.com, Credo Technology Group presently has a consensus rating of “Buy” and an average target price of $263.11.

Credo Technology Group Stock Performance

CRDO opened at $241.91 on Friday. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 97.54, a PEG ratio of 1.11 and a beta of 3.20. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67. The business’s fifty day simple moving average is $220.92 and its 200-day simple moving average is $160.44.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The firm had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same period in the previous year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 157.0% on a year-over-year basis. On average, equities research analysts predict that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

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.