Profund Advisors LLC Acquires New Shares in Credo Technology Group Holding Ltd. $CRDO

Profund Advisors LLC bought a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,603 shares of the company’s stock, valued at approximately $241,000.

A number of other large investors have also recently made changes to their positions in CRDO. Wolff Wiese Magana LLC lifted its position in Credo Technology Group by 200.0% during the second quarter. Wolff Wiese Magana LLC now owns 450 shares of the company’s stock valued at $42,000 after purchasing an additional 300 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in Credo Technology Group by 278.4% in the second quarter. Cullen Frost Bankers Inc. now owns 473 shares of the company’s stock valued at $44,000 after acquiring an additional 348 shares during the period. Operose Advisors LLC grew its stake in shares of Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Credo Technology Group during the 1st quarter valued at about $25,000. Finally, Signaturefd LLC lifted its stake in shares of Credo Technology Group by 32.4% in the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after purchasing an additional 172 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group Trading Up 1.8%

Shares of CRDO opened at $145.52 on Friday. The business’s 50 day moving average is $154.58 and its 200 day moving average is $112.48. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $193.50. The company has a market capitalization of $25.17 billion, a PE ratio of 217.19 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 (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 company had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $190.63 million. During the same period last year, the business earned $0.04 earnings per share. The company’s quarterly revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

CRDO has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of 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. Mizuho upped their price objective on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a report on Wednesday, October 1st. Needham & Company LLC boosted 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 upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. One investment 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 data from MarketBeat, Credo Technology Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.36.

Insiders Place Their Bets

In related news, Director Manpreet Khaira sold 5,000 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $149.67, for a total transaction of $748,350.00. Following the completion of the transaction, the director directly owned 58,574 shares of the company’s stock, valued at approximately $8,766,770.58. This represents a 7.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pantas Sutardja sold 1,875 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $189.35, for a total value of $355,031.25. Following the transaction, the director owned 5,893,909 shares of the company’s stock, valued at $1,116,011,669.15. This represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 973,161 shares of company stock worth $149,011,579. 11.84% of the stock is owned by corporate insiders.

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.