Prime Capital Investment Advisors LLC Acquires Shares of 5,163 Credo Technology Group Holding Ltd. $CRDO

Prime Capital Investment Advisors LLC acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,163 shares of the company’s stock, valued at approximately $478,000.

Other hedge funds also recently bought and sold shares of the company. Operose Advisors LLC grew its holdings in shares of Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after purchasing an additional 252 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Credo Technology Group in the 1st quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Credo Technology Group in the 1st quarter worth about $27,000. Harbour Investments Inc. bought a new position in Credo Technology Group in the 1st quarter worth about $29,000. Finally, Virtus Advisers LLC bought a new position in Credo Technology Group in the 1st quarter worth about $31,000. Institutional investors own 80.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lip Bu Tan sold 20,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $175.12, for a total value of $3,502,400.00. Following the completion of the sale, the director directly owned 422,180 shares in the company, valued at $73,932,161.60. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Joseph Brennan sold 9,476 shares of Credo Technology Group stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $140.06, for a total transaction of $1,327,208.56. Following the completion of the sale, the chief executive officer owned 347,399 shares of the company’s stock, valued at $48,656,703.94. This trade represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 997,181 shares of company stock valued at $131,069,480. 11.84% of the stock is currently owned by corporate insiders.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $138.83 on Friday. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $176.70. The stock has a market capitalization of $24.02 billion, a P/E ratio of 207.21 and a beta of 2.60. The company’s 50-day simple moving average is $136.63 and its 200-day simple moving average is $91.42.

Credo Technology Group (NASDAQ:CRDO) last announced its 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 during 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%. Credo Technology Group’s revenue was up 273.6% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cowen reissued a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. TD Cowen initiated coverage on Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 price target on the stock. Barclays reissued an “overweight” rating and set a $165.00 price target on shares of Credo Technology Group in a research report on Tuesday. Susquehanna increased their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday. Two research 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. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $128.55.

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.