Wealthcare Advisory Partners LLC Makes New $240,000 Investment in Credo Technology Group Holding Ltd. $CRDO

Wealthcare Advisory Partners LLC bought a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 2nd quarter, HoldingsChannel reports. The fund bought 2,594 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Operose Advisors LLC grew its position in Credo Technology Group by 69.2% in the 1st 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. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $27,000. Harbour Investments Inc. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $29,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $31,000. Institutional investors own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 112,580 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total value of $15,558,556.00. Following the transaction, the chief financial officer owned 458,678 shares in the company, valued at approximately $63,389,299.60. This represents a 19.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $107.12, for a total transaction of $5,891,600.00. Following the completion of the transaction, the chief technology officer owned 7,108,961 shares in the company, valued at approximately $761,511,902.32. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 997,181 shares of company stock worth $131,069,480 in the last 90 days. 11.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CRDO has been the subject of a number of research analyst reports. Roth Capital reaffirmed a “buy” rating and issued a $170.00 price target on shares of Credo Technology Group in a research note on Tuesday, September 30th. Susquehanna upped their price target on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research note on Thursday, September 4th. Stifel Nicolaus set a $160.00 price target on shares of Credo Technology Group in a research note on Wednesday, October 1st. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Finally, TD Cowen initiated coverage on shares of Credo Technology Group in a research note on Wednesday, October 1st. They issued a “buy” rating and a $170.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $128.55.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $138.83 on Friday. The firm has a market cap of $24.02 billion, a PE ratio of 207.21 and a beta of 2.60. The firm’s 50 day moving average price is $136.63 and its two-hundred day moving average price is $91.42. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $176.70.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data 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 company 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%. The firm’s quarterly revenue was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Credo Technology Group Company 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.