Credo Technology Group Holding Ltd. $CRDO Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,461 shares of the company’s stock after purchasing an additional 4,735 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Credo Technology Group were worth $3,392,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Operose Advisors LLC lifted its holdings in shares of Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Credo Technology Group during the 1st quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credo Technology Group during the 1st quarter worth $27,000. Harbour Investments Inc. acquired a new position in shares of Credo Technology Group during the 1st quarter worth $29,000. Finally, Virtus Advisers LLC acquired a new position in shares of Credo Technology Group during the 1st quarter worth $31,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Roth Capital lifted their price target on Credo Technology Group from $95.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Mizuho lifted their price objective on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Barclays lifted their price objective on Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Finally, Susquehanna lifted their price objective on Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, Credo Technology Group currently has a consensus rating of “Buy” and a consensus target price of $126.27.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $161.99 on Friday. The stock has a 50-day simple moving average of $115.91 and a 200-day simple moving average of $77.00. The stock has a market capitalization of $28.02 billion, a P/E ratio of 241.78 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 1 year low of $26.96 and a 1 year high of $168.42.

Credo Technology Group (NASDAQ:CRDO) last posted its 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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other Credo Technology Group news, Director Lip Bu Tan sold 171,473 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $77.90, for a total value of $13,357,746.70. Following the completion of the transaction, the director owned 613,725 shares in the company, valued at $47,809,177.50. This represents a 21.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $98.53, for a total value of $5,419,150.00. Following the completion of the transaction, the chief technology officer owned 7,273,961 shares of the company’s stock, valued at approximately $716,703,377.33. This represents a 0.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,033,917 shares of company stock worth $99,967,419 in the last 90 days. 11.84% of the stock is owned by company insiders.

Credo Technology Group Company 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.