GK Wealth Management LLC Buys New Shares in Credo Technology Group Holding Ltd. $CRDO

GK Wealth Management LLC bought a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 1st quarter, HoldingsChannel reports. The firm bought 5,601 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. raised its position in shares of Credo Technology Group by 6.1% during the first quarter. Alliancebernstein L.P. now owns 1,846,387 shares of the company’s stock worth $74,151,000 after purchasing an additional 105,405 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Credo Technology Group by 63.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after purchasing an additional 589,151 shares during the period. Two Sigma Investments LP raised its position in shares of Credo Technology Group by 55.3% during the fourth quarter. Two Sigma Investments LP now owns 1,515,268 shares of the company’s stock worth $101,841,000 after purchasing an additional 539,766 shares during the period. Polar Capital Holdings Plc raised its position in shares of Credo Technology Group by 382.1% during the fourth quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company’s stock worth $97,527,000 after purchasing an additional 1,150,084 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Credo Technology Group during the first quarter worth $52,636,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRDO has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $155.00 target price on Credo Technology Group in a research report on Thursday, September 4th. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Barclays upped their price target on Credo Technology Group from $85.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Finally, Needham & Company LLC upped their price target on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $126.27.

Insiders Place Their Bets

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of the company’s stock in a transaction dated 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 directly owned 2,061,978 shares of the company’s stock, valued at $220,363,588.86. This represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lip Bu Tan sold 171,473 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $77.90, for a total value of $13,357,746.70. Following the completion of the transaction, the director directly owned 613,725 shares in the company, valued at approximately $47,809,177.50. The trade was a 21.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,037,444 shares of company stock valued at $100,235,647 in the last three months. Insiders own 11.84% of the company’s stock.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $163.96 on Thursday. Credo Technology Group Holding Ltd. has a fifty-two week low of $25.04 and a fifty-two week high of $164.06. The stock’s 50-day moving average is $113.21 and its two-hundred day moving average is $75.60. The firm has a market cap of $28.37 billion, a P/E ratio of 244.72 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last issued 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). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

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.