Penserra Capital Management LLC Makes New Investment in Credo Technology Group Holding Ltd. $CRDO

Penserra Capital Management LLC bought a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the second quarter, Holdings Channel reports. The fund bought 180,887 shares of the company’s stock, valued at approximately $16,748,000.

Several other institutional investors and hedge funds have also modified their holdings of CRDO. Nisa Investment Advisors LLC increased its position in Credo Technology Group by 3.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company’s stock worth $341,000 after acquiring an additional 126 shares during the period. Blue Trust Inc. boosted 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 valued at $380,000 after purchasing an additional 154 shares during the period. Signaturefd LLC grew its position in shares of 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 purchasing an additional 172 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Credo Technology Group by 21.5% during the first 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. Finally, Operose Advisors LLC raised its position in shares of Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after buying an additional 252 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total value of $11,482,400.00. Following the sale, the chief operating officer owned 920,000 shares in the company, valued at $132,047,600. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $163.98, for a total transaction of $9,018,900.00. Following the sale, the chief technology officer directly owned 6,998,961 shares in the company, valued at approximately $1,147,689,624.78. The trade was a 0.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 973,161 shares of company stock valued at $149,011,579 in the last quarter. Insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Up 0.5%

Shares of CRDO stock opened at $163.61 on Friday. The business has a fifty day simple moving average of $151.97 and a 200 day simple moving average of $108.53. The company has a market cap of $28.30 billion, a P/E ratio of 244.19 and a beta of 2.62. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $193.50.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Wednesday, September 3rd. The company reported $0.34 EPS 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 business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the firm posted $0.04 EPS. The firm’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRDO has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday, October 8th. Zacks Research lowered Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC boosted their price target on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. assumed coverage on shares of Credo Technology Group in a research note on Friday, October 17th. They set an “overweight” rating and a $165.00 price objective on the stock. Finally, Mizuho raised their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.36.

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.