Credo Technology Group Holding Ltd. $CRDO Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. reduced its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 29.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,371 shares of the company’s stock after selling 117,882 shares during the period. Raymond James Financial Inc. owned approximately 0.17% of Credo Technology Group worth $11,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CRDO. Nuveen LLC acquired a new position in Credo Technology Group during the 1st quarter valued at about $52,636,000. Polar Capital Holdings Plc increased its position in Credo Technology Group by 382.1% during the 4th quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company’s stock valued at $97,527,000 after buying an additional 1,150,084 shares in the last quarter. Bank of America Corp DE increased its position in Credo Technology Group by 281.7% during the 4th quarter. Bank of America Corp DE now owns 391,446 shares of the company’s stock valued at $26,309,000 after buying an additional 606,850 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Credo Technology Group during the 1st quarter valued at about $24,329,000. Finally, Deutsche Bank AG increased its position in Credo Technology Group by 710.9% during the 4th quarter. Deutsche Bank AG now owns 623,332 shares of the company’s stock valued at $41,894,000 after buying an additional 546,466 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CRDO shares. Susquehanna upped their target price on Credo Technology Group from $90.00 to $115.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Stifel Nicolaus boosted their price target on Credo Technology Group from $80.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Needham & Company LLC boosted their price target on Credo Technology Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Mizuho boosted their price target on Credo Technology Group from $112.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. Finally, Roth Capital set a $95.00 price target on Credo Technology Group and gave the company a “buy” rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $91.27.

Insider Buying and Selling

In related news, Director Pantas Sutardja sold 1,875 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $107.00, for a total value of $200,625.00. Following the completion of the transaction, the director owned 5,898,652 shares of the company’s stock, valued at approximately $631,155,764. This represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Joseph Brennan sold 46,444 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $4,963,470.28. Following the completion of the transaction, the chief executive officer directly owned 393,338 shares of the company’s stock, valued at $42,036,032.06. The trade was a 10.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,274,583 shares of company stock worth $113,118,257 over the last ninety days. 16.04% of the stock is owned by corporate insiders.

Credo Technology Group Stock Down 6.6%

Shares of CRDO opened at $123.06 on Friday. Credo Technology Group Holding Ltd. has a 52 week low of $24.08 and a 52 week high of $134.35. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 455.78, a PEG ratio of 2.21 and a beta of 2.59. The stock’s 50-day moving average price is $105.59 and its 200-day moving average price is $71.88.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, June 2nd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%.The firm had revenue of $170.00 million for the quarter, compared to the consensus estimate of $159.59 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s revenue was up 179.6% compared to the same quarter last year. Credo Technology Group has set its Q1 2026 guidance at EPS. As a group, equities analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal 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.