CloudAlpha Capital Management Limited Hong Kong Purchases 276,683 Shares of Credo Technology Group Holding Ltd. $CRDO

CloudAlpha Capital Management Limited Hong Kong grew its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 238.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 392,623 shares of the company’s stock after purchasing an additional 276,683 shares during the quarter. Credo Technology Group makes up 1.9% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 11th largest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in Credo Technology Group were worth $36,353,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CRDO. Nuveen LLC bought a new stake in Credo Technology Group in the 1st quarter worth approximately $52,636,000. Swedbank AB increased its stake in Credo Technology Group by 29.5% in the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock worth $129,280,000 after purchasing an additional 733,811 shares during the period. Candriam S.C.A. purchased a new position in Credo Technology Group in the 1st quarter worth approximately $29,258,000. FengHe Fund Management Pte. Ltd. purchased a new position in shares of Credo Technology Group during the second quarter valued at approximately $63,013,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Credo Technology Group during the first quarter valued at approximately $24,329,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 112,580 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the completion of the transaction, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at approximately $63,389,299.60. This represents a 19.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $163.98, for a total value of $9,018,900.00. Following the transaction, the chief technology officer directly owned 6,998,961 shares of the company’s stock, valued at approximately $1,147,689,624.78. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 971,286 shares of company stock valued at $148,656,548. Insiders own 11.84% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of several research analyst reports. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. TD Cowen initiated coverage on Credo Technology Group in a report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 target price on the stock. Barclays reaffirmed an “overweight” rating and set a $165.00 price target on shares of Credo Technology Group in a report on Tuesday, October 7th. William Blair assumed coverage on Credo Technology Group in a report on Thursday, September 18th. They set an “outperform” rating on the stock. Finally, Mizuho upped their price objective on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $140.36.

Credo Technology Group Stock Down 9.1%

NASDAQ CRDO opened at $164.23 on Wednesday. The firm has a market cap of $28.41 billion, a price-to-earnings ratio of 245.12 and a beta of 2.62. The business has a 50-day moving average price of $149.53 and a 200-day moving average price of $106.28. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $193.50.

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

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.