Credo Technology Group Holding Ltd. $CRDO Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP trimmed its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 81.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,857 shares of the company’s stock after selling 151,716 shares during the quarter. Engineers Gate Manager LP’s holdings in Credo Technology Group were worth $9,479,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. City Center Advisors LLC increased its holdings in shares of Credo Technology Group by 2.1% during the 2nd quarter. City Center Advisors LLC now owns 2,595 shares of the company’s stock worth $706,000 after buying an additional 53 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Credo Technology Group by 8.0% in the second quarter. Versant Capital Management Inc now owns 755 shares of the company’s stock valued at $205,000 after acquiring an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Credo Technology Group by 16.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock valued at $80,000 after acquiring an additional 77 shares during the last quarter. QRG Capital Management Inc. grew its position in Credo Technology Group by 1.7% in the first quarter. QRG Capital Management Inc. now owns 5,402 shares of the company’s stock worth $507,000 after acquiring an additional 91 shares during the period. Finally, Bank of Nova Scotia grew its position in Credo Technology Group by 1.6% in the first quarter. Bank of Nova Scotia now owns 6,026 shares of the company’s stock worth $566,000 after acquiring an additional 92 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Trading Down 4.5%

CRDO stock opened at $160.31 on Friday. The company has a market capitalization of $30.13 billion, a PE ratio of 57.05, a P/E/G ratio of 0.67 and a beta of 3.22. 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 moving average price is $223.25 and its 200 day moving average price is $190.60.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The company had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $473.30 million. During the same period last year, the business posted $0.52 EPS. Credo Technology Group’s revenue for the quarter was up 114.7% on a year-over-year basis. Research analysts predict that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Yat Lam sold 50,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $213.33, for a total transaction of $10,666,500.00. Following the sale, the chief operating officer owned 300,000 shares of the company’s stock, valued at approximately $63,999,000. This represents a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Fleming sold 7,580 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the completion of the transaction, the chief financial officer directly owned 504,708 shares of the company’s stock, valued at approximately $124,097,603.04. The trade was a 1.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 313,074 shares of company stock worth $71,827,816 over the last three months. Company insiders own 9.06% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $250.00 target price on shares of Credo Technology Group in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their price objective on Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating for the company in a research report on Wednesday, September 2nd. Stifel Nicolaus raised their price objective on Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Wall Street Zen lowered shares of Credo Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. One research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.39.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: AI infrastructure demand remains a major growth driver. Analysts highlight strong demand for active electrical cables, Retimers and optical products, with management expecting approximately 85% fiscal 2027 revenue growth and more than $600 million in annual optical revenue. Credo Technology: A Compelling Buy For Forward-Looking Investors
• Positive Sentiment: Recent financial results continued to exceed expectations. Credo reported $479 million in quarterly revenue, up 114.7% year over year, while earnings of $1.20 per share topped the $1.17 consensus estimate. The results marked another consecutive earnings beat and a continuation of triple-digit growth. Credo Q1 2027 Earnings Call Transcript
• Positive Sentiment: Several analysts view the pullback as a buying opportunity. Bullish coverage points to Credo’s expanding connectivity portfolio, including optical DSPs, ZeroFlap Optics and silicon photonics, while some published price targets remain above $300. The Credo Selloff Could Be a Huge Buying Opportunity
• Neutral Sentiment: Management’s investor presentation provided additional visibility but no specific new catalyst was reported. Credo also presented at the Goldman Sachs Communacopia + Technology Conference. Short-interest data showed no meaningful change, with reported short interest remaining at zero. Credo Goldman Sachs Conference Transcript
• Negative Sentiment: Gross-margin compression is the key near-term concern. Investors are questioning whether Credo can scale its AI connectivity business without additional GAAP margin pressure. Working-capital expansion and the stock’s elevated valuation increase sensitivity to any disappointing outlook. Credo Reports 115% Revenue Growth but Lower GAAP Gross Margin
• Negative Sentiment: CTO Chi Fung Cheng sold 3,790 shares for approximately $644,300. The sale reduced his direct holdings by about 2.7%, although he retained 136,568 shares. The transaction may add pressure to sentiment, particularly following earlier sales. Chi Fung Cheng Sells Credo Shares

Credo Technology Group Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for the data infrastructure market. Its products are designed to help move data efficiently within and between networking, storage and computing systems, with applications in artificial intelligence, cloud computing, telecommunications and enterprise data centers.

The company’s portfolio includes serializer/deserializer (SerDes) integrated circuits, retimers, optical digital signal processors and active electrical cables.