Credo Technology Group Holding Ltd. $CRDO Stake Lowered by Bosun Asset Management LLC

Bosun Asset Management LLC cut its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 39.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,790 shares of the company’s stock after selling 6,910 shares during the quarter. Bosun Asset Management LLC’s holdings in Credo Technology Group were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CRDO. Nuveen LLC acquired a new position in Credo Technology Group in the 1st quarter worth about $52,636,000. Polar Capital Holdings Plc lifted its holdings in shares of Credo Technology Group by 382.1% during the 4th quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company’s stock valued at $97,527,000 after buying an additional 1,150,084 shares during the last quarter. Candriam S.C.A. bought a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $29,258,000. Bank of America Corp DE increased its holdings in Credo Technology Group by 281.7% in the fourth quarter. Bank of America Corp DE now owns 391,446 shares of the company’s stock worth $26,309,000 after buying an additional 606,850 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Credo Technology Group during the first quarter valued at approximately $24,329,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $78.77, for a total value of $4,332,350.00. Following the transaction, the chief technology officer directly owned 7,493,961 shares of the company’s stock, valued at $590,299,307.97. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Joseph Brennan sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $16,030,500.00. Following the transaction, the chief executive officer owned 2,061,978 shares of the company’s stock, valued at approximately $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,136,152 shares of company stock worth $102,714,411. Company insiders own 11.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CRDO shares. Cowen reiterated a “buy” rating on shares of Credo Technology Group in a research note on Tuesday, June 3rd. Roth Capital set a $95.00 price target on shares of Credo Technology Group and gave the company a “buy” rating in a report on Friday, June 13th. Needham & Company LLC upped their price objective on shares of Credo Technology Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Susquehanna increased their target price on shares of Credo Technology Group from $90.00 to $115.00 and gave the stock a “positive” rating in a research report on Tuesday, July 22nd. Finally, Mizuho raised their target price on Credo Technology Group from $112.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $92.64.

Credo Technology Group Trading Up 0.4%

NASDAQ CRDO opened at $124.77 on Thursday. The company has a fifty day simple moving average of $107.66 and a 200 day simple moving average of $72.98. The company has a market cap of $21.58 billion, a P/E ratio of 462.11, a P/E/G ratio of 2.21 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 1 year low of $24.08 and a 1 year high of $134.35.

Credo Technology Group (NASDAQ:CRDO) last announced its 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). The firm 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 8.77% and a net margin of 11.95%.The business’s revenue was up 273.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal 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.