19,545 Shares in Credo Technology Group Holding Ltd. $CRDO Bought by Stephens Inc. AR

Stephens Inc. AR purchased a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 19,545 shares of the company’s stock, valued at approximately $1,810,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Credo Technology Group by 3.9% during the second quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock worth $380,000 after buying an additional 154 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Credo Technology Group by 32.4% during the second quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after buying an additional 172 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Credo Technology Group by 21.5% during the first quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock worth $56,000 after buying an additional 245 shares in the last quarter. Operose Advisors LLC grew its holdings in shares of 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 in the last quarter. Finally, QTR Family Wealth LLC grew its holdings in shares of Credo Technology Group by 3.9% during the second quarter. QTR Family Wealth LLC now owns 7,415 shares of the company’s stock worth $687,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Trading Up 10.0%

Shares of CRDO stock opened at $150.97 on Friday. The company’s 50-day moving average price is $140.83 and its 200-day moving average price is $97.74. The stock has a market cap of $26.12 billion, a price-to-earnings ratio of 225.33 and a beta of 2.60. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $176.70.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on CRDO. Needham & Company LLC upped their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Susquehanna upped their target price on shares of Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday. TD Cowen began coverage on shares of Credo Technology Group in a report on Wednesday, October 1st. They set a “buy” rating and a $170.00 target price for the company. William Blair started coverage on shares of Credo Technology Group in a report on Thursday, September 18th. They set an “outperform” rating for the company. Finally, Stifel Nicolaus set a $160.00 price target on shares of Credo Technology Group in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $140.36.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 80,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total value of $11,482,400.00. Following the transaction, the chief operating officer owned 920,000 shares of the company’s stock, valued at $132,047,600. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $163.98, for a total transaction of $9,018,900.00. Following the sale, the chief technology officer owned 6,998,961 shares in the company, valued at $1,147,689,624.78. This trade represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,006,589 shares of company stock worth $138,151,863. 11.84% of the stock is owned by corporate insiders.

Credo Technology Group 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.