Primecap Management Co. CA Sells 163,450 Shares of Credo Technology Group Holding Ltd. $CRDO

Primecap Management Co. CA reduced its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 36.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 290,000 shares of the company’s stock after selling 163,450 shares during the period. Primecap Management Co. CA’s holdings in Credo Technology Group were worth $26,851,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRDO. Realta Investment Advisors bought a new position in shares of Credo Technology Group during the 2nd quarter valued at about $300,000. Ethic Inc. grew its position in Credo Technology Group by 35.5% during the second quarter. Ethic Inc. now owns 7,142 shares of the company’s stock valued at $668,000 after acquiring an additional 1,873 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Credo Technology Group during the second quarter worth approximately $382,000. Convergence Investment Partners LLC purchased a new position in shares of Credo Technology Group during the second quarter worth approximately $2,577,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Credo Technology Group by 850.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In related news, COO Yat Tung Lam sold 80,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the completion of the sale, the chief operating officer owned 920,000 shares of the company’s stock, valued at $132,047,600. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal 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 on Monday, September 15th. The shares were sold at an average price of $163.98, for a total transaction of $9,018,900.00. Following the transaction, the chief technology officer directly owned 6,998,961 shares in the company, valued at approximately $1,147,689,624.78. The trade was a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 973,161 shares of company stock worth $149,011,579 over the last quarter. 11.84% of the stock is owned by corporate insiders.

Credo Technology Group Price Performance

NASDAQ CRDO opened at $134.73 on Friday. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $193.50. The stock has a market capitalization of $23.31 billion, a PE ratio of 201.09 and a beta of 2.62. The business’s 50-day moving average is $153.42 and its 200 day moving average is $114.65.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $223.07 million for the quarter, compared to the consensus estimate 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 for the quarter was up 273.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on CRDO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. TD Cowen initiated coverage on Credo Technology Group in a research note on Wednesday, October 1st. They set a “buy” rating and a $170.00 price objective on the stock. Barclays reiterated an “overweight” rating and issued a $165.00 price objective on shares of Credo Technology Group in a report on Tuesday, October 7th. Roth Capital restated a “buy” rating and set a $170.00 target price on shares of Credo Technology Group in a report on Tuesday, September 30th. Finally, Zacks Research cut Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus price target of $140.36.

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.