Candriam S.C.A. Has $38.78 Million Position in Credo Technology Group Holding Ltd. $CRDO

Candriam S.C.A. lessened its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 42.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 418,771 shares of the company’s stock after selling 309,754 shares during the period. Candriam S.C.A. owned about 0.24% of Credo Technology Group worth $38,776,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRDO. Nuveen LLC acquired a new stake in shares of Credo Technology Group during the 1st quarter valued at about $52,636,000. Swedbank AB raised its holdings in shares of Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock valued at $129,280,000 after purchasing an additional 733,811 shares in the last quarter. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Credo Technology Group in the 2nd quarter valued at $63,013,000. Westfield Capital Management Co. LP acquired a new stake in shares of Credo Technology Group in the 1st quarter valued at $24,329,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after purchasing an additional 589,151 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRDO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on Credo Technology Group in a research note on Friday, October 17th. They issued an “overweight” rating and a $165.00 price objective on the stock. William Blair assumed coverage on Credo Technology Group in a report on Thursday, September 18th. They issued an “outperform” rating for the company. Needham & Company LLC increased their price target on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Wall Street Zen raised shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus target price of $140.36.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $160.34 on Thursday. The company has a market cap of $27.74 billion, a PE ratio of 239.31 and a beta of 2.62. The firm has a fifty day moving average price of $154.31 and a two-hundred day moving average price of $111.07. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $193.50.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm 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%.The firm’s quarterly revenue was up 273.6% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $163.98, for a total value of $9,018,900.00. Following the completion of the transaction, the chief technology officer directly owned 6,998,961 shares of the company’s stock, valued at $1,147,689,624.78. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Yat Tung Lam sold 80,000 shares of Credo Technology Group stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total transaction 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 represents a 8.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 973,161 shares of company stock worth $149,011,579. 11.84% of the stock is owned by corporate insiders.

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.