Credo Technology Group Holding Ltd. $CRDO Stake Reduced by GAMMA Investing LLC

GAMMA Investing LLC reduced its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 10.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,773 shares of the company’s stock after selling 209 shares during the quarter. GAMMA Investing LLC’s holdings in Credo Technology Group were worth $164,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in Credo Technology Group by 21.5% during the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock worth $56,000 after acquiring an additional 245 shares during the period. Operose Advisors LLC boosted its position in Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after acquiring an additional 252 shares during the period. Calamos Advisors LLC boosted its position in Credo Technology Group by 3.1% during the 1st quarter. Calamos Advisors LLC now owns 17,369 shares of the company’s stock worth $698,000 after acquiring an additional 529 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Credo Technology Group during the 1st quarter worth $25,000. Finally, KBC Group NV boosted its position in Credo Technology Group by 11.7% during the 1st quarter. KBC Group NV now owns 6,324 shares of the company’s stock worth $254,000 after acquiring an additional 663 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Transactions at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 3,790 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $137.55, for a total value of $521,314.50. Following the completion of the sale, the chief financial officer directly owned 576,178 shares of the company’s stock, valued at approximately $79,253,283.90. This represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Joseph Brennan sold 18,016 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $164.11, for a total value of $2,956,605.76. Following the completion of the sale, the chief executive officer directly owned 369,173 shares of the company’s stock, valued at approximately $60,584,981.03. This represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 743,915 shares of company stock worth $91,779,645. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group Stock Up 2.2%

Shares of NASDAQ CRDO opened at $146.01 on Tuesday. The business has a fifty day simple moving average of $129.40 and a 200-day simple moving average of $85.87. The company has a market cap of $25.26 billion, a price-to-earnings ratio of 217.93 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $223.07 million during 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 was up 273.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRDO. Stifel Nicolaus set a $155.00 price target on Credo Technology Group in a research report on Thursday, September 4th. Mizuho boosted their price target 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. TD Cowen upped their price objective on Credo Technology Group from $140.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Barclays upped their price objective on Credo Technology Group from $85.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Finally, Susquehanna upped their price objective on Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $126.27.

About Credo Technology Group

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.