Andar Capital Management HK Ltd Cuts Stock Holdings in Credo Technology Group Holding Ltd. $CRDO

Andar Capital Management HK Ltd cut its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 170,000 shares of the company’s stock after selling 4,000 shares during the quarter. Credo Technology Group makes up approximately 18.4% of Andar Capital Management HK Ltd’s holdings, making the stock its biggest holding. Andar Capital Management HK Ltd’s holdings in Credo Technology Group were worth $15,740,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of Credo Technology Group by 216.8% during the 1st quarter. Allworth Financial LP now owns 2,807 shares of the company’s stock worth $119,000 after purchasing an additional 1,921 shares during the last quarter. Xponance Inc. boosted its holdings in Credo Technology Group by 9.2% in the first quarter. Xponance Inc. now owns 11,165 shares of the company’s stock valued at $448,000 after purchasing an additional 937 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Credo Technology Group by 20.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 96,651 shares of the company’s stock worth $3,882,000 after purchasing an additional 16,664 shares in the last quarter. CWM LLC increased its holdings in Credo Technology Group by 109.5% in the first quarter. CWM LLC now owns 7,864 shares of the company’s stock valued at $316,000 after buying an additional 4,111 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Credo Technology Group in the first quarter valued at approximately $5,523,000. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRDO shares. TD Cowen assumed coverage on Credo Technology Group in a research note on Wednesday, October 1st. They set a “buy” rating and a $170.00 price objective for the company. Cowen reissued a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Roth Capital restated a “buy” rating and issued a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. Finally, Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.36.

Insider Activity

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $163.98, for a total value of $9,018,900.00. Following the transaction, the chief technology officer owned 6,998,961 shares in the company, valued at $1,147,689,624.78. The trade was a 0.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Yat Tung Lam sold 80,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 920,000 shares of the company’s stock, valued at $132,047,600. This represents a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 973,161 shares of company stock worth $149,011,579. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group Trading Down 6.9%

NASDAQ CRDO opened at $158.50 on Wednesday. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $193.50. The business’s 50-day moving average price is $153.60 and its 200 day moving average price is $110.72. The company has a market capitalization of $27.42 billion, a PE ratio of 236.57 and a beta of 2.62.

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). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $190.63 million. During the same period last year, the firm posted $0.04 EPS. Credo Technology Group’s revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts predict 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.