FengHe Fund Management Pte. Ltd. Invests $63.01 Million in Credo Technology Group Holding Ltd. $CRDO

FengHe Fund Management Pte. Ltd. acquired a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 2nd quarter, HoldingsChannel reports. The firm acquired 680,555 shares of the company’s stock, valued at approximately $63,013,000. Credo Technology Group accounts for about 10.3% of FengHe Fund Management Pte. Ltd.’s holdings, making the stock its 3rd biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. QTR Family Wealth LLC raised its holdings in shares of Credo Technology Group by 3.9% in the second quarter. QTR Family Wealth LLC now owns 7,415 shares of the company’s stock valued at $687,000 after purchasing an additional 280 shares during the last quarter. Truist Financial Corp purchased a new stake in Credo Technology Group in the 2nd quarter valued at about $328,000. Janney Montgomery Scott LLC increased its stake in Credo Technology Group by 144.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 16,413 shares of the company’s stock valued at $1,520,000 after buying an additional 9,692 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in Credo Technology Group in the 2nd quarter valued at about $80,000. Finally, Wolff Wiese Magana LLC increased its position in shares of 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 acquiring an additional 300 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CRDO shares. Mizuho raised their target price on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Susquehanna raised their price target on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research note on Thursday, September 4th. Wall Street Zen upgraded shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday. Barclays raised their price target on shares of Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Finally, Roth Capital reissued a “buy” rating and issued a $170.00 price objective on shares of Credo Technology Group in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $128.55.

Credo Technology Group Stock Down 0.5%

Shares of NASDAQ CRDO opened at $144.91 on Thursday. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $176.70. The firm has a market capitalization of $25.07 billion, a P/E ratio of 216.28 and a beta of 2.60. The stock’s 50-day simple moving average is $131.38 and its two-hundred day simple moving average is $86.69.

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

Insider Buying and Selling

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the transaction, the chief executive officer directly owned 2,061,978 shares in the company, valued at $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the transaction, the chief technology officer directly owned 7,328,961 shares in the company, valued at approximately $673,824,674.34. This represents a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 798,915 shares of company stock worth $99,967,495 over the last quarter. Company insiders own 11.84% of the company’s stock.

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.