Credo Technology Group Holding Ltd. $CRDO Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. trimmed its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 24.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,334 shares of the company’s stock after selling 26,444 shares during the period. Thornburg Investment Management Inc.’s holdings in Credo Technology Group were worth $7,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Operose Advisors LLC raised its position in Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after purchasing an additional 252 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $25,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Credo Technology Group in the 2nd quarter worth approximately $27,000. Harbour Investments Inc. acquired a new position in shares of Credo Technology Group in the 1st quarter worth approximately $29,000. Finally, Virtus Advisers LLC bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $31,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Zacks Research cut Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Mizuho upped their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a research report on Wednesday, October 1st. TD Cowen started coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 price target on the stock. Finally, Needham & Company LLC upped their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.36.

Insiders Place Their Bets

In other news, CEO William Joseph Brennan sold 18,016 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $171.23, for a total transaction of $3,084,879.68. Following the completion of the sale, the chief executive officer owned 319,907 shares in the company, valued at $54,777,675.61. The trade was a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Manpreet Khaira sold 5,000 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $149.67, for a total value of $748,350.00. Following the sale, the director directly owned 58,574 shares of the company’s stock, valued at $8,766,770.58. This represents a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 973,161 shares of company stock valued at $149,011,579 over the last quarter. Company insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Up 2.2%

Shares of NASDAQ CRDO opened at $154.18 on Wednesday. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $193.50. The firm’s 50-day simple moving average is $152.38 and its 200 day simple moving average is $117.61. The company has a market cap of $26.67 billion, a price-to-earnings ratio of 230.12 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last posted 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). 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 during the quarter, compared to analyst estimates of $190.63 million. During the same quarter in the previous year, the business posted $0.04 EPS. The company’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities analysts expect 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.