Credo Technology Group Holding Ltd. $CRDO Stake Raised by SummitTX Capital L.P.

SummitTX Capital L.P. increased its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 112.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,816 shares of the company’s stock after buying an additional 3,614 shares during the quarter. SummitTX Capital L.P.’s holdings in Credo Technology Group were worth $640,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRDO. Mirae Asset Global Investments Co. Ltd. lifted its position in Credo Technology Group by 9.4% during the fourth 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 during the period. FengHe Fund Management Pte. Ltd. grew its position in shares of Credo Technology Group by 5.7% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock worth $23,349,000 after buying an additional 8,769 shares during the period. M&T Bank Corp increased its stake in shares of Credo Technology Group by 428.8% in the 4th 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. Teacher Retirement System of Texas increased its stake in shares of Credo Technology Group by 486.2% in the 4th quarter. Teacher Retirement System of Texas now owns 239,721 shares of the company’s stock worth $34,493,000 after acquiring an additional 198,826 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in Credo Technology Group by 5.5% during the 4th quarter. TimesSquare Capital Management LLC now owns 264,181 shares of the company’s stock valued at $38,013,000 after acquiring an additional 13,881 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 7,580 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the sale, the chief financial officer directly owned 504,708 shares of the company’s stock, valued at $124,097,603.04. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $205.54, for a total value of $5,652,350.00. Following the completion of the transaction, the chief technology officer directly owned 5,799,870 shares of the company’s stock, valued at approximately $1,192,105,279.80. This trade represents a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 302,162 shares of company stock worth $72,810,546. Insiders own 11.84% of the company’s stock.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $201.08 on Friday. The stock has a market cap of $37.50 billion, a PE ratio of 81.08, a price-to-earnings-growth ratio of 0.81 and a beta of 3.20. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67. The firm has a fifty day moving average price of $236.83 and a 200-day moving average price of $171.59.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $250.00 target price on shares of Credo Technology Group in a report on Tuesday, June 2nd. Susquehanna increased their price objective on shares of Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a report on Friday, May 1st. They issued a “buy” rating and a $206.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Mizuho boosted their target price on shares of Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $266.17.

Credo Technology Group News Roundup

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

• Positive Sentiment: Zacks named CRDO a Rank #1 (Strong Buy) growth stock on July 30, reinforcing favorable analyst sentiment and potentially attracting growth-oriented investors. Best Growth Stocks to Buy for July 30th
• Positive Sentiment: Credo’s latest quarterly results remain a fundamental tailwind: revenue rose 157% year over year to $437 million, while earnings of $1.16 per share exceeded the $1.02 consensus estimate. Analysts currently maintain a consensus “Buy” rating with an average price target of $266.17.
• Positive Sentiment: A Seeking Alpha analysis said the recent CRDO sell-off may be overdone, citing the company’s exposure to artificial-intelligence infrastructure and long-term data-center connectivity growth. Credo Stock Sell-Off Looks Overblown
• Neutral Sentiment: CTO Chi Fung Cheng sold 27,500 shares for approximately $5.65 million at an average price of $205.54. The transaction was executed under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only 0.47%; he still owns roughly 5.8 million shares. SEC insider transaction filing
• Negative Sentiment: The latest sale follows a series of scheduled Cheng transactions, including another 27,500-share sale on July 21 for about $6.11 million and additional sales in June and July. Repeated insider selling is weighing on sentiment after CRDO’s substantial prior rally, even though the sales appear routine.
• Negative Sentiment: Technical pressure is also evident: the stock remains below its 50-day moving average, while its elevated valuation and high beta leave it vulnerable to profit-taking across AI and semiconductor shares.

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.