Thoroughbred Financial Services LLC Grows Position in Credo Technology Group Holding Ltd. $CRDO

Thoroughbred Financial Services LLC grew its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 36.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,330 shares of the company’s stock after buying an additional 8,604 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Credo Technology Group were worth $2,993,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CRDO. Nuveen LLC purchased a new stake in shares of Credo Technology Group in the first quarter worth $52,636,000. Swedbank AB boosted its holdings in Credo Technology Group by 29.5% in the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock worth $129,280,000 after buying an additional 733,811 shares during the period. Candriam S.C.A. purchased a new stake in Credo Technology Group in the 1st quarter worth $29,258,000. FengHe Fund Management Pte. Ltd. bought a new stake in Credo Technology Group during the second quarter valued at about $63,013,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Credo Technology Group in the first quarter valued at about $24,329,000. Institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CRDO shares. JPMorgan Chase & Co. started coverage on Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 target price for the company. Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Mizuho lifted their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Wall Street Zen upgraded shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Finally, Barclays reiterated an “overweight” rating and issued a $165.00 price target on shares of Credo Technology Group in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.36.

Credo Technology Group Stock Up 1.8%

Shares of NASDAQ:CRDO opened at $145.52 on Friday. The firm has a fifty day simple moving average of $154.58 and a two-hundred day simple moving average of $112.00. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $193.50. The stock has a market capitalization of $25.17 billion, a P/E ratio of 217.19 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly 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). The company 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Yat Tung Lam sold 80,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $132,047,600. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $163.98, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 973,161 shares of company stock valued at $149,011,579 over the last three months. 11.84% of the stock is owned by company 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.