Credo Technology Group Holding Ltd. $CRDO Shares Sold by FirstWave Capital Management LLC

FirstWave Capital Management LLC lessened its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 16.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 40,819 shares of the company’s stock after selling 7,843 shares during the quarter. Credo Technology Group accounts for approximately 4.9% of FirstWave Capital Management LLC’s portfolio, making the stock its 6th biggest position. FirstWave Capital Management LLC’s holdings in Credo Technology Group were worth $11,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CRDO. State Street Corp increased its stake in Credo Technology Group by 23.4% during the fourth quarter. State Street Corp now owns 4,486,320 shares of the company’s stock worth $645,537,000 after purchasing an additional 849,654 shares during the period. Geode Capital Management LLC boosted its stake in shares of Credo Technology Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock valued at $555,117,000 after purchasing an additional 184,676 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Credo Technology Group by 239,024.5% in the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after purchasing an additional 3,597,318 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after purchasing an additional 1,218,504 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after buying an additional 1,406,752 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Price Performance

Credo Technology Group stock opened at $170.57 on Friday. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67. The stock has a market cap of $32.06 billion, a PE ratio of 60.70, a P/E/G ratio of 0.67 and a beta of 3.22. The stock’s fifty day moving average is $230.31 and its two-hundred day moving average is $189.00.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. The business had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $473.30 million. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The business’s quarterly revenue was up 114.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. On average, research analysts expect that Credo Technology Group Holding Ltd. will post 4.93 earnings per share for the current fiscal year.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Credo reported revenue of $479 million, up 115% year over year, while adjusted EPS of $1.20 exceeded the $1.17 consensus estimate. Management expects fiscal-year revenue growth of more than 85%, with optical revenue surpassing $600 million as a second growth engine develops. Why I Doubled Down On Credo
• Positive Sentiment: Bullish analysts argue that the market’s margin fears are overstated and that the optical business should scale meaningfully in the second half of fiscal 2027. DustPhotonics also expands Credo’s opportunities in silicon photonics, 800G, 1.6T and near-package optics. Credo And The Illusion Of Its Q1 Problems
• Positive Sentiment: Stifel Nicolaus reiterated a Buy view, while Rosenblatt raised its price target to $235, supporting the case that the recent valuation reset may have been excessive. Stifel Buy Rating
• Neutral Sentiment: Analysts remain divided. Bank of America lowered its price target to $275, while other analysts maintain bullish ratings, reflecting uncertainty over how quickly optical products will ramp and whether margins can stabilize. Bank of America Price Target
• Negative Sentiment: Bears point to shrinking gross margins, rising operating costs, approximately $88 million in quarterly stock-based compensation, insider selling and customer concentration exceeding 60% of revenue. They also question the durability of the optical outlook, competition from Marvell and the risk of slower hyperscaler capital spending after fiscal 2028. Credo: This Is Not A Buying Opportunity

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Cowen boosted their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. reduced their price objective on Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating on the stock in a research note on Wednesday. Rosenblatt Securities lifted their target price on Credo Technology Group from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday. Mizuho boosted their target price on Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Barclays upped their price target on Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Credo Technology Group presently has an average rating of “Moderate Buy” and a consensus price target of $267.39.

Insider Buying and Selling

In other Credo Technology Group news, COO Yat Lam sold 55,441 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $213.02, for a total value of $11,810,041.82. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $124,097,603.04. The trade was a 1.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 377,884 shares of company stock worth $88,559,765 over the last 90 days. 9.06% of the stock is owned by insiders.

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.