2,651 Shares in Credo Technology Group Holding Ltd. $CRDO Purchased by Naviter Wealth LLC

Naviter Wealth LLC purchased a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,651 shares of the company’s stock, valued at approximately $245,000.

A number of other large investors also recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in Credo Technology Group by 3.9% in the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock worth $380,000 after purchasing an additional 154 shares during the period. Signaturefd LLC increased its stake in Credo Technology Group by 32.4% during the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after buying an additional 172 shares in the last quarter. Larson Financial Group LLC increased its stake in Credo Technology Group by 21.5% during the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock worth $56,000 after buying an additional 245 shares in the last quarter. Operose Advisors LLC increased its stake in Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after buying an additional 252 shares in the last quarter. Finally, QTR Family Wealth LLC increased its stake in Credo Technology Group by 3.9% during the 2nd quarter. QTR Family Wealth LLC now owns 7,415 shares of the company’s stock worth $687,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Roth Capital reiterated a “buy” rating and set a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. Needham & Company LLC boosted their price objective on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Barclays reiterated an “overweight” rating and set a $165.00 price objective on shares of Credo Technology Group in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. Finally, William Blair assumed coverage on Credo Technology Group in a research note on Thursday, September 18th. They set an “outperform” rating for the company. Two 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 company’s stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of “Buy” and an average price target of $128.55.

Insiders Place Their Bets

In related news, CFO Daniel W. Fleming sold 112,580 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the transaction, the chief financial officer directly owned 458,678 shares in the company, valued at approximately $63,389,299.60. This represents a 19.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Joseph Brennan sold 150,000 shares of the 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 completion of the transaction, the chief executive officer owned 2,061,978 shares of the company’s stock, valued at $220,363,588.86. The trade was 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 942,181 shares of company stock valued at $125,650,330. 11.84% of the stock is currently owned by insiders.

Credo Technology Group Price Performance

CRDO stock opened at $129.75 on Wednesday. The business has a 50 day simple moving average of $137.72 and a 200-day simple moving average of $93.11. The firm has a market capitalization of $22.45 billion, a PE ratio of 193.66 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $176.70.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $223.07 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 273.6% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities 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.