Ballentine Partners LLC Makes New $239,000 Investment in Credo Technology Group Holding Ltd. $CRDO

Ballentine Partners LLC bought a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,582 shares of the company’s stock, valued at approximately $239,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norden Group LLC acquired a new stake in Credo Technology Group during the 2nd quarter worth $211,000. Counterpoint Mutual Funds LLC bought a new position in shares of Credo Technology Group during the second quarter worth $406,000. Park Avenue Securities LLC bought a new position in shares of Credo Technology Group during the second quarter worth $258,000. Farther Finance Advisors LLC boosted its position in shares of Credo Technology Group by 850.6% during the second quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new position in shares of Credo Technology Group during the second quarter worth $1,212,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Activity

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated 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 $673,824,674.34. The trade was a 0.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Joseph Brennan sold 150,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. This trade represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 743,915 shares of company stock worth $91,779,645 over the last 90 days. 11.84% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays lifted 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 report on Thursday, September 4th. TD Cowen lifted their price target on shares of Credo Technology Group from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Wall Street Zen raised shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Finally, William Blair assumed coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They set an “outperform” rating on the stock. 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, Credo Technology Group has an average rating of “Buy” and a consensus target price of $126.27.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $146.01 on Tuesday. The company’s 50-day moving average price is $129.40 and its two-hundred day moving average price is $85.87. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $176.70. The stock has a market capitalization of $25.26 billion, a PE ratio of 217.93 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

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.