Strs Ohio Takes $1.11 Million Position in Credo Technology Group Holding Ltd. $CRDO

Strs Ohio acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 27,600 shares of the company’s stock, valued at approximately $1,108,000.

A number of other hedge funds also recently modified their holdings of the stock. GK Wealth Management LLC acquired a new stake in shares of Credo Technology Group during the 1st quarter worth about $225,000. Geneos Wealth Management Inc. raised its stake in Credo Technology Group by 38,668.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 25,975 shares of the company’s stock worth $1,043,000 after purchasing an additional 25,908 shares in the last quarter. Intech Investment Management LLC raised its stake in Credo Technology Group by 153.0% in the 1st quarter. Intech Investment Management LLC now owns 120,338 shares of the company’s stock worth $4,833,000 after purchasing an additional 72,782 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in Credo Technology Group in the 1st quarter worth about $100,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Credo Technology Group by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock worth $12,480,000 after purchasing an additional 7,107 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Buying and Selling

In other news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $163.98, for a total value of $9,018,900.00. Following the completion of the sale, the chief technology officer owned 6,998,961 shares in the company, valued at $1,147,689,624.78. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel W. Fleming sold 3,790 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $137.55, for a total transaction of $521,314.50. Following the sale, the chief financial officer owned 576,178 shares of the company’s stock, valued at $79,253,283.90. This trade represents a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 871,163 shares of company stock valued at $97,342,803 over the last 90 days. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group Price Performance

CRDO opened at $172.31 on Friday. Credo Technology Group Holding Ltd. has a fifty-two week low of $28.00 and a fifty-two week high of $176.70. The firm has a market capitalization of $29.81 billion, a price-to-earnings ratio of 257.18 and a beta of 2.59. The company’s 50 day moving average price is $121.59 and its two-hundred day moving average price is $80.08.

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). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same quarter last year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Stifel Nicolaus set a $155.00 price objective on shares of Credo Technology Group in a research note on Thursday, September 4th. Mizuho boosted their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Barclays boosted their target price on shares of Credo Technology Group from $85.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. TD Cowen boosted their target price on shares of Credo Technology Group from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $126.27.

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.