Candriam S.C.A. Sells 309,754 Shares of Credo Technology Group Holding Ltd. $CRDO

Candriam S.C.A. trimmed its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 42.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 418,771 shares of the company’s stock after selling 309,754 shares during the period. Candriam S.C.A.’s holdings in Credo Technology Group were worth $38,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in shares of Credo Technology Group by 200.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 450 shares of the company’s stock valued at $42,000 after purchasing an additional 300 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in Credo Technology Group by 278.4% in the second quarter. Cullen Frost Bankers Inc. now owns 473 shares of the company’s stock valued at $44,000 after buying an additional 348 shares in the last quarter. Operose Advisors LLC grew its stake in Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after buying an additional 252 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Credo Technology Group during the first quarter worth approximately $25,000. Finally, Signaturefd LLC raised its stake in shares of Credo Technology Group by 32.4% in the second quarter. Signaturefd LLC now owns 703 shares of the company’s stock valued at $65,000 after acquiring an additional 172 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Performance

Shares of Credo Technology Group stock opened at $160.34 on Thursday. The firm has a fifty day moving average of $154.31 and a two-hundred day moving average of $111.07. The stock has a market capitalization of $27.74 billion, a price-to-earnings ratio of 239.31 and a beta of 2.62. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $193.50.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm’s revenue for the quarter was up 273.6% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Manpreet Khaira sold 5,000 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $149.67, for a total value of $748,350.00. Following the sale, the director directly owned 58,574 shares in the company, valued at $8,766,770.58. This trade represents a 7.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Joseph Brennan sold 18,016 shares of Credo Technology Group stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $171.23, for a total transaction of $3,084,879.68. Following the transaction, the chief executive officer directly owned 319,907 shares in the company, valued at $54,777,675.61. The trade was a 5.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 973,161 shares of company stock worth $149,011,579 over the last quarter. Insiders own 11.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRDO shares. Cowen restated a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Susquehanna increased their price objective on shares of Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Zacks Research downgraded shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Mizuho upped their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Credo Technology Group in a research note on Friday, October 17th. They set an “overweight” rating and a $165.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.36.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.