Swedbank Reduces $155M in Credo Technology Group Holding Ltd ($CRDO)
Swedbank decreases its Credo Technology stake by 24.8%, selling 511,640 shares.
Key Points
- Swedbank trimmed its stake in Credo Technology by 24.8%, selling 511,640 shares to hold 1,551,139 shares valued at $469.3 million.
- Credo Technology, trading near $302.52 on Tuesday, has a market cap of $56.4 billion and a P/E ratio of 121.0.
- Analysts maintain a strong buy consensus with a mean price target of $256.30, as insiders sell shares in planned and unplanned transactions.
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Swedbank has reduced its holdings in Credo Technology Group Holding Ltd (NasdaqGS:CRDO) by 24.8%, according to its latest Form 13F filing with the SEC. The bank sold 511,640 shares, bringing its total stake down to 1,551,139 shares, valued at approximately $469.3 million, as of the reporting period ending April 29, 2026.
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What Changed in Swedbank's Credo Technology Position
Swedbank cut its stake in Credo Technology by 24.8%, selling off 511,640 shares. This reduction leaves the bank with 1,551,139 shares in total. The value of this position is now approximately $469.3 million, compared to its previous holding of 2,062,779 shares.
Other Institutional Activity in Credo Technology
Among other institutional investors, BlackRock, Inc. trimmed its holdings by 1,245,744 shares, ending with 19,819,402 shares worth about $1.86 billion. Vanguard Portfolio Management LLC opened a new position with 8,998,192 shares valued at roughly $844.7 million. Point72 Asset Management, L.P. increased its holdings by 1,916,943 shares, resulting in 7,479,599 shares valued at approximately $702.1 million. State Street Corp added 386,041 shares to reach a total of 4,872,361 shares, valued at around $457.4 million. Meanwhile, Geode Capital Management, LLC grew its position by 517,941 shares, holding a total of 4,379,982 shares worth about $412.3 million.
Credo Technology Group Holding Ltd Stock Up 30.0%
Shares of NasdaqGS:CRDO traded near $302.52 on Tuesday. Credo Technology Group boasts a market capitalization of about $56.4 billion, with a price-to-earnings ratio of 121.0 and a forward P/E of 34.2. The stock's beta is 3.229, indicating high volatility. It has a 52-week low of $81.72 and a high of $308.67. The company's 50-day moving average is $197.33, while the 200-day moving average is $153.60. Credo maintains a strong liquidity position with a current ratio of 10.153 and a quick ratio of 8.507, alongside a debt-to-equity ratio of 1.233.
$CRDO stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
In its recent earnings report, Credo Technology posted revenue of $1.34 billion, marking a 1.57% growth. The company achieved a net margin of 35.37% and a return on equity of 34.41%. Earnings per share stood at $2.50. The next earnings release is scheduled for September 2, 2026.
Insider Buying and Selling at Credo Technology Group Holding Ltd
Recent insider activity at Credo Technology includes several sales. On June 16, 2026, Chief Technology Officer Cheng Chi Fung sold 27,500 shares at an average price of $246.69 as part of a planned sale. President and CEO William Joseph Brennan disposed of 7,500 shares on June 15, 2026. Chief Legal Officer James Laufman sold 5,000 shares at $264.49 on June 11, 2026. On the same day, CFO Daniel Fleming sold 40,000 shares at $249.48 under a planned sale, and 11,805 shares at $237.68 in an unplanned transaction. COO Lam Yat Tung sold 6,360 shares at $237.68 on June 10, 2026.
Analysts Set New Price Targets
On June 22, 2026, Stifel maintained its buy rating for Credo Technology with a price target of $350. Evercore ISI Group initiated coverage with a buy rating and a target of $325. Earlier, on June 2, 2026, Roth Capital, Jefferies, TD Cowen, Susquehanna, JP Morgan, and Mizuho all maintained buy ratings with targets ranging from $235 to $300. Analysts' consensus remains strong buy with an average target price of $256.30, based on 18 opinions.
About Credo Technology Group Holding Ltd
Credo Technology Group Holding Ltd, headquartered in Grand Cayman, Cayman Islands, provides high-speed connectivity solutions for Ethernet and PCIe applications. The company offers products such as ZeroFlap cables, OmniConnect memory solutions, and a range of retimers and DSPs for optical and copper Ethernet. Founded in 2008, Credo serves markets in the United States, Taiwan, Mainland China, Hong Kong, and other international locations.
Bottom Line
Swedbank's decision to reduce its stake in Credo Technology Group reflects a significant portfolio adjustment. Investors follow these moves closely as 13F filings provide insights into institutional strategies, though they are backward-looking. Credo Technology remains a company of interest due to its strong market position and analyst support.
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