Credo Technology Group Holding Ltd. $CRDO Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 30.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 431,076 shares of the company’s stock after selling 187,635 shares during the quarter. Panagora Asset Management Inc.’s holdings in Credo Technology Group were worth $39,913,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Credo Technology Group by 36.5% during the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock worth $602,662,000 after buying an additional 1,739,844 shares during the period. Nuveen LLC acquired a new stake in shares of Credo Technology Group during the 1st quarter valued at approximately $52,636,000. Swedbank AB boosted its stake in shares of Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock worth $129,280,000 after acquiring an additional 733,811 shares in the last quarter. Candriam S.C.A. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $29,258,000. Finally, FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Credo Technology Group in the 2nd quarter worth approximately $63,013,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the subject of several research reports. Roth Capital reaffirmed a “buy” rating on shares of Credo Technology Group in a report on Tuesday. Stifel Nicolaus set a $160.00 price target on Credo Technology Group in a research report on Wednesday, October 1st. William Blair assumed coverage on Credo Technology Group in a research note on Thursday, September 18th. They set an “outperform” rating for the company. JPMorgan Chase & Co. started coverage on shares of Credo Technology Group in a research report on Friday, October 17th. They issued an “overweight” rating and a $165.00 price objective on the stock. Finally, Cowen restated a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. One equities 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.25.

Credo Technology Group Stock Down 3.6%

NASDAQ CRDO opened at $171.13 on Tuesday. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $193.50. The business has a fifty day moving average of $152.51 and a 200-day moving average of $120.73. The stock has a market cap of $29.61 billion, a price-to-earnings ratio of 255.42 and a beta of 2.63.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, December 1st. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.18. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $268.03 million during the quarter, compared to analysts’ expectations of $234.99 million. During the same quarter last year, the business posted $0.07 EPS. The firm’s quarterly revenue was up 272.1% compared to the same quarter last year. Credo Technology Group has set its Q3 2026 guidance at EPS. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $156.32, for a total value of $8,597,600.00. Following the completion of the transaction, the chief technology officer owned 6,668,961 shares of the company’s stock, valued at $1,042,491,983.52. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Pantas Sutardja sold 1,875 shares of the company’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 transaction of $355,031.25. Following the transaction, the director directly owned 5,893,909 shares in the company, valued at $1,116,011,669.15. The trade was a 0.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 973,161 shares of company stock valued at $149,011,579. Corporate insiders own 11.84% of the company’s stock.

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.