Credo Technology Group (CRDO)

• Sector: Information Technology
• Industry: Semiconductors & Related Devices

Market Cap: 4.72B

About: Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. It has a geographic presence in Hong Kong, the United States, Mainland China, Taiwan, and the Rest of the World.

Employees: 500

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

1,028% more call options, than puts

Call options by funds: $43.7M | Put options by funds: $3.88M

155% more first-time investments, than exits

New positions opened: 56 | Existing positions closed: 22

90% more repeat investments, than reductions

Existing positions increased: 91 | Existing positions reduced: 48

20% more capital invested

Capital invested by funds: $2.11B [Q4 2023] → $2.53B (+$414M) [Q1 2024]

19% more funds holding

Funds holding: 175 [Q4 2023] → 209 (+34) [Q1 2024]

5.16% more ownership

Funds ownership: 67.95% [Q4 2023] → 73.11% (+5.16%) [Q1 2024]

50% less funds holding in top 10

Funds holding in top 10: 2 [Q4 2023] → 1 (-1) [Q1 2024]

Research analyst outlook

12 Wall Street Analysts provided 1 year price forecasts over the past 6 months

• Low target: $22 23% downside
• Avg. target: $30 4% upside
• High target: $40 40% upside

12 analyst ratings

• positive: 11 92%
• neutral: 0 0%
• negative: 1 8%

Stifel Tore Svanberg	26% upside $36	Buy Maintained	18 Jul 2024
TD Cowen Matt Ramsay	40% upside $40	Buy Maintained	15 Jul 2024
TD Cowen Matt Ramsay	22% upside $35	Buy Upgraded	25 Jun 2024
Barclays Thomas O'Malley	5% upside $30	Overweight Maintained	30 May 2024
B of A Securities Vivek Arya	23% downside $22	Underperform Reiterated	30 May 2024