Connors Investor Services Inc. Sells 8,818 Shares of Credo Technology Group Holding Ltd. $CRDO

Connors Investor Services Inc. cut its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 23.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,401 shares of the company’s stock after selling 8,818 shares during the quarter. Connors Investor Services Inc.’s holdings in Credo Technology Group were worth $2,722,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of Credo Technology Group by 3.9% during the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock valued at $380,000 after acquiring an additional 154 shares during the period. Signaturefd LLC boosted its stake in Credo Technology Group by 32.4% in the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after purchasing an additional 172 shares during the period. Larson Financial Group LLC boosted its stake in Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock worth $56,000 after purchasing an additional 245 shares during the period. Operose Advisors LLC boosted its stake 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 period. Finally, QTR Family Wealth LLC boosted its stake in Credo Technology Group by 3.9% in the 2nd quarter. QTR Family Wealth LLC now owns 7,415 shares of the company’s stock worth $687,000 after purchasing an additional 280 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRDO has been the subject of several recent analyst reports. Susquehanna upped their price target on Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday. Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Stifel Nicolaus set a $160.00 price target on Credo Technology Group in a research note on Wednesday, October 1st. Mizuho upped their price target on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note 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 stock a “buy” rating in a research note on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $140.36.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $137.20 on Thursday. The stock’s fifty day moving average is $140.16 and its 200 day moving average is $96.95. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $176.70. The firm has a market capitalization of $23.74 billion, a PE ratio of 204.78 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly 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 net margin of 20.85% and a return on equity of 19.02%. The company had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $190.63 million. During the same quarter in the previous year, the company posted $0.04 EPS. The business’s quarterly revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Activity at Credo Technology Group

In related news, Director Manpreet Khaira sold 5,000 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $149.67, for a total transaction of $748,350.00. Following the sale, the director owned 58,574 shares in the company, valued at approximately $8,766,770.58. This represents a 7.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William Joseph Brennan sold 9,476 shares of the stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $140.06, for a total value of $1,327,208.56. Following the sale, the chief executive officer owned 347,399 shares in the company, valued at $48,656,703.94. The trade was a 2.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,006,589 shares of company stock worth $138,151,863 in the last ninety days. Corporate insiders own 11.84% of the company’s stock.

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.