TimesSquare Capital Management LLC Reduces Stock Holdings in Credo Technology Group Holding Ltd. $CRDO

TimesSquare Capital Management LLC cut its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 17.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 353,000 shares of the company’s stock after selling 73,900 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Credo Technology Group were worth $32,684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRDO. Swedbank AB raised its holdings in shares of Credo Technology Group by 29.5% in the first quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock worth $129,280,000 after buying an additional 733,811 shares during the last quarter. Alliancebernstein L.P. lifted its position in Credo Technology Group by 6.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,846,387 shares of the company’s stock worth $74,151,000 after acquiring an additional 105,405 shares during the period. Goldman Sachs Group Inc. grew its stake in 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 valued at $61,235,000 after purchasing an additional 589,151 shares during the last quarter. Nuveen LLC acquired a new position in shares of Credo Technology Group in the first quarter valued at about $52,636,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Credo Technology Group by 74.3% during the first quarter. The Manufacturers Life Insurance Company now owns 1,098,369 shares of the company’s stock worth $44,110,000 after purchasing an additional 468,145 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Susquehanna lifted their price target on Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. TD Cowen assumed coverage on shares of Credo Technology Group in a research note on Wednesday, October 1st. They issued a “buy” rating and a $170.00 target price for the company. Wall Street Zen upgraded shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Needham & Company LLC upped their target price on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Cowen reiterated 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.36.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $169.27, for a total transaction of $13,541,600.00. Following the sale, the chief operating officer owned 770,000 shares of the company’s stock, valued at approximately $130,337,900. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pantas Sutardja sold 1,875 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 5,893,909 shares in the company, valued at $1,116,011,669.15. This trade represents a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 973,161 shares of company stock valued at $149,011,579. Insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $158.50 on Wednesday. The company’s 50 day simple moving average is $153.60 and its 200-day simple moving average is $110.72. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $193.50. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 236.57 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last issued 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 business had revenue of $223.07 million for 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 firm’s revenue for the quarter was up 273.6% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. 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.