Hudock Inc. Buys 716 Shares of Credo Technology Group Holding Ltd. $CRDO

Hudock Inc. grew its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 11.5% during the second quarter, HoldingsChannel reports. The firm owned 6,919 shares of the company’s stock after buying an additional 716 shares during the quarter. Hudock Inc.’s holdings in Credo Technology Group were worth $641,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ethic Inc. boosted its holdings in shares of Credo Technology Group by 35.5% during the 2nd quarter. Ethic Inc. now owns 7,142 shares of the company’s stock valued at $668,000 after acquiring an additional 1,873 shares in the last quarter. Realta Investment Advisors acquired a new stake in Credo Technology Group during the second quarter worth approximately $300,000. Convergence Investment Partners LLC acquired a new position in Credo Technology Group during the 2nd quarter worth approximately $2,577,000. Farther Finance Advisors LLC boosted its holdings in Credo Technology Group by 850.6% in the second quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after acquiring an additional 3,700 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Credo Technology Group by 61.7% during the second quarter. US Bancorp DE now owns 6,422 shares of the company’s stock valued at $595,000 after acquiring an additional 2,451 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel W. Fleming sold 112,580 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the transaction, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at $63,389,299.60. The trade was a 19.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 973,161 shares of company stock valued at $149,011,579. Company insiders own 11.84% of the company’s stock.

Analyst Ratings Changes

CRDO has been the topic of several research reports. Wall Street Zen upgraded shares of Credo Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. TD Cowen initiated coverage on shares of Credo Technology Group in a report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 target price on the stock. Roth Capital reissued a “buy” rating and issued a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. William Blair began coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They issued an “outperform” rating for the company. Finally, Mizuho increased 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 research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average price target of $140.36.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $160.34 on Thursday. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $193.50. The business has a fifty day simple moving average of $154.31 and a two-hundred day simple moving average of $111.07. The company has a market capitalization of $27.74 billion, a P/E ratio of 239.31 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data 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). The firm had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The company’s revenue was up 273.6% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share 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.