Primecap Management Co. CA Sells 163,450 Shares of Credo Technology Group Holding Ltd. $CRDO

Primecap Management Co. CA lowered its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 36.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 290,000 shares of the company’s stock after selling 163,450 shares during the period. Primecap Management Co. CA owned about 0.17% of Credo Technology Group worth $26,851,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Credo Technology Group by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,375,368 shares of the company’s stock worth $1,516,195,000 after buying an additional 430,445 shares during the last quarter. Geode Capital Management LLC raised its position in Credo Technology Group by 4.7% in the second quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock worth $334,740,000 after acquiring an additional 163,305 shares during the period. Swedbank AB boosted its stake in Credo Technology Group by 29.5% in the first quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock valued at $129,280,000 after acquiring an additional 733,811 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Credo Technology Group by 6.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,846,387 shares of the company’s stock valued at $74,151,000 after acquiring an additional 105,405 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Credo Technology Group by 63.0% during the 1st 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 during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Yat Tung Lam sold 80,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 920,000 shares in the company, valued at $132,047,600. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction dated 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 owned 6,998,961 shares in the company, valued at $1,147,689,624.78. This represents a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 973,161 shares of company stock worth $149,011,579 in the last three months. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Down 5.0%

CRDO stock opened at $134.73 on Friday. The stock has a 50-day simple moving average of $153.42 and a two-hundred day simple moving average of $114.65. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $193.50. The firm has a market capitalization of $23.31 billion, a PE ratio of 201.09 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results 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). 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 quarterly revenue was up 273.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Zacks Research lowered Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Susquehanna increased their price target on Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Barclays restated an “overweight” rating and issued a $165.00 price objective on shares of Credo Technology Group in a research note on Tuesday, October 7th. Mizuho upped their price objective 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. Finally, Roth Capital reiterated a “buy” rating and set a $170.00 target price on shares of Credo Technology Group in a research report on Tuesday, September 30th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.36.

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.