Northwestern Mutual Wealth Management Co. Grows Holdings in Credo Technology Group Holding Ltd. $CRDO

Northwestern Mutual Wealth Management Co. boosted its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 1,966.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,487 shares of the company’s stock after buying an additional 9,028 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Credo Technology Group were worth $2,580,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wedbush Securities Inc. purchased a new position in Credo Technology Group in the second quarter valued at about $494,000. Hollencrest Capital Management acquired a new position in shares of Credo Technology Group in the 2nd quarter valued at approximately $190,000. Toth Financial Advisory Corp purchased a new position in shares of Credo Technology Group during the 2nd quarter valued at approximately $1,164,000. Nissay Asset Management Corp Japan grew its position in shares of Credo Technology Group by 36.4% during the second quarter. Nissay Asset Management Corp Japan now owns 86,583 shares of the company’s stock worth $23,546,000 after buying an additional 23,124 shares in the last quarter. Finally, Navellier & Associates Inc. acquired a new stake in shares of Credo Technology Group during the second quarter worth approximately $509,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CFO Daniel Fleming sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the transaction, the chief financial officer owned 501,873 shares in the company, valued at approximately $125,207,276.04. This represents a 7.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Chi Cheng sold 27,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $259.53, for a total transaction of $7,137,075.00. Following the completion of the sale, the chief technology officer owned 5,992,370 shares in the company, valued at $1,555,199,786.10. The trade was a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 377,884 shares of company stock valued at $88,559,765 in the last ninety days. Company insiders own 9.06% of the company’s stock.

Key Stories Impacting Credo Technology Group

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo reported revenue of $479 million, up 115% year over year, while adjusted EPS of $1.20 exceeded the $1.17 consensus estimate. Management expects fiscal-year revenue growth of more than 85%, with optical revenue surpassing $600 million as a second growth engine develops. Why I Doubled Down On Credo
• Positive Sentiment: Bullish analysts argue that the market’s margin fears are overstated and that the optical business should scale meaningfully in the second half of fiscal 2027. DustPhotonics also expands Credo’s opportunities in silicon photonics, 800G, 1.6T and near-package optics. Credo And The Illusion Of Its Q1 Problems
• Positive Sentiment: Stifel Nicolaus reiterated a Buy view, while Rosenblatt raised its price target to $235, supporting the case that the recent valuation reset may have been excessive. Stifel Buy Rating
• Neutral Sentiment: Analysts remain divided. Bank of America lowered its price target to $275, while other analysts maintain bullish ratings, reflecting uncertainty over how quickly optical products will ramp and whether margins can stabilize. Bank of America Price Target
• Negative Sentiment: Bears point to shrinking gross margins, rising operating costs, approximately $88 million in quarterly stock-based compensation, insider selling and customer concentration exceeding 60% of revenue. They also question the durability of the optical outlook, competition from Marvell and the risk of slower hyperscaler capital spending after fiscal 2028. Credo: This Is Not A Buying Opportunity

Credo Technology Group Stock Up 3.9%

Shares of NASDAQ CRDO opened at $170.57 on Friday. The firm’s 50-day moving average price is $230.31 and its two-hundred day moving average price is $189.00. Credo Technology Group Holding Ltd. has a 52-week low of $86.49 and a 52-week high of $308.67. The stock has a market capitalization of $32.06 billion, a P/E ratio of 60.70, a P/E/G ratio of 0.67 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The company had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. During the same period in the prior year, the company earned $0.52 earnings per share. The business’s revenue was up 114.7% compared to the same quarter last year. As a group, equities research analysts expect that Credo Technology Group Holding Ltd. will post 4.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRDO has been the topic of several recent analyst reports. Roth Capital upped their price target on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Jefferies Financial Group raised their price objective on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. dropped their target price on shares of Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating for the company in a research report on Wednesday. Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Credo Technology Group in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $267.39.

About Credo Technology Group

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high?speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low?latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high?speed analog and mixed?signal devices designed to preserve signal integrity and extend reach over copper and optical links.