Credo Technology Group Holding Ltd. $CRDO Stock Position Cut by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,066 shares of the company’s stock after selling 641 shares during the quarter. ProShare Advisors LLC’s holdings in Credo Technology Group were worth $2,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC raised its holdings in Credo Technology Group by 20.8% during the first 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 position in shares of Credo Technology Group by 109.5% during the 1st quarter. CWM LLC now owns 7,864 shares of the company’s stock valued at $316,000 after purchasing an additional 4,111 shares during the period. Sigma Planning Corp bought a new stake in shares of Credo Technology Group in the 1st quarter worth $247,000. Larson Financial Group LLC lifted its holdings in shares of Credo Technology Group by 21.5% in the first quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock valued at $56,000 after buying an additional 245 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Credo Technology Group in the first quarter valued at $735,000. 80.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. 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. Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a report on Wednesday, October 1st. William Blair started coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They set an “outperform” rating for the company. Susquehanna lifted their price target on shares of Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. One 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.36.

Insider Buying and Selling

In other Credo Technology Group news, COO Yat Tung Lam sold 80,000 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the transaction, the chief operating officer directly owned 920,000 shares of the company’s stock, valued at $132,047,600. The trade was a 8.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Daniel W. Fleming sold 112,580 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the sale, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at $63,389,299.60. This represents a 19.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 973,161 shares of company stock valued at $149,011,579. Insiders own 11.84% of the company’s stock.

Credo Technology Group Trading Up 1.8%

CRDO opened at $145.52 on Friday. The stock has a market cap of $25.17 billion, a price-to-earnings ratio of 217.19 and a beta of 2.62. The stock has a fifty day moving average price of $154.58 and a 200 day moving average price of $112.48. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $193.50.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm’s revenue for the quarter was up 273.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

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.