Sequoia Financial Advisors LLC Takes Position in Credo Technology Group Holding Ltd. $CRDO

Sequoia Financial Advisors LLC purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,330 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds have also made changes to their positions in CRDO. Operose Advisors LLC grew its stake in shares of Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after buying an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $29,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $31,000. Hedge funds and other 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 stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the sale, the chief financial officer directly owned 458,678 shares in the company, valued at $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 this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $150.34, for a total transaction of $8,268,700.00. Following the sale, the chief technology officer owned 6,723,961 shares in the company, valued at approximately $1,010,880,296.74. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,006,589 shares of company stock worth $138,151,863 over the last 90 days. 11.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRDO. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th. Roth Capital reaffirmed a “buy” rating and set a $170.00 price objective on shares of Credo Technology Group in a research report on Tuesday, September 30th. William Blair initiated coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They set an “outperform” rating for the company. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Finally, TD Cowen initiated coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $140.36.

Credo Technology Group Stock Up 10.0%

Credo Technology Group stock opened at $150.97 on Friday. The firm has a market cap of $26.12 billion, a PE ratio of 225.33 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $176.70. The company’s 50 day moving average is $140.83 and its two-hundred day moving average is $97.74.

Credo Technology Group (NASDAQ:CRDO) last released its 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 business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.Credo Technology Group’s quarterly revenue was up 273.6% compared to the same quarter last year. 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 anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share 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.