Credo Technology Group Holding Ltd. $CRDO Shares Acquired by Ethic Inc.

Ethic Inc. lifted its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 35.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,142 shares of the company’s stock after buying an additional 1,873 shares during the quarter. Ethic Inc.’s holdings in Credo Technology Group were worth $668,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Wolff Wiese Magana LLC increased its holdings in shares of Credo Technology Group by 200.0% during 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. grew its position in Credo Technology Group by 278.4% during 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 during the period. Operose Advisors LLC increased its holdings in Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after buying an additional 252 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Credo Technology Group in the first quarter worth about $25,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Credo Technology Group during the 1st quarter worth about $27,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $150.34, for a total value of $8,268,700.00. Following the transaction, the chief technology officer directly owned 6,723,961 shares in the company, valued at approximately $1,010,880,296.74. This represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel W. Fleming sold 112,580 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the sale, the chief financial officer directly owned 458,678 shares in the company, valued at approximately $63,389,299.60. The trade was a 19.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,021,589 shares of company stock worth $141,957,163. 11.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRDO. Mizuho upped their price target on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a research note on Wednesday, October 1st. Barclays reiterated an “overweight” rating and set a $165.00 target price on shares of Credo Technology Group in a research report on Tuesday, October 7th. TD Cowen started coverage on shares of Credo Technology Group in a report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 price target for the company. Finally, Susquehanna increased their price objective on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $140.36.

Credo Technology Group Stock Down 0.4%

Shares of NASDAQ CRDO opened at $154.96 on Tuesday. The stock has a market capitalization of $26.81 billion, a price-to-earnings ratio of 231.28 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $176.70. The firm has a 50-day simple moving average of $142.33 and a 200-day simple moving average of $100.18.

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

About Credo Technology Group

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.