2,787 Shares in Credo Technology Group Holding Ltd. $CRDO Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC acquired a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDOFree Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,787 shares of the company’s stock, valued at approximately $258,000.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in shares of Credo Technology Group by 21.5% in the first quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock valued at $56,000 after purchasing an additional 245 shares during the period. Operose Advisors LLC grew its position in Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after buying an additional 252 shares during the last quarter. Calamos Advisors LLC increased its stake in Credo Technology Group by 3.1% in the 1st quarter. Calamos Advisors LLC now owns 17,369 shares of the company’s stock valued at $698,000 after buying an additional 529 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Credo Technology Group during the 1st quarter worth $25,000. Finally, KBC Group NV lifted its stake in shares of Credo Technology Group by 11.7% in 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. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Cowen started coverage on shares of Credo Technology Group in a research note on Wednesday. They set a “buy” rating and a $170.00 price target on the stock. Barclays boosted their target price 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. Cowen reissued a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. William Blair assumed coverage on Credo Technology Group in a research note on Thursday, September 18th. They issued an “outperform” rating on the stock. Finally, Mizuho increased 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. Two equities 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 MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $128.55.

Get Our Latest Stock Analysis on CRDO

Insider Buying and Selling

In related news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Joseph Brennan sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the sale, the chief executive officer directly owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 798,915 shares of company stock valued at $99,967,495. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Down 0.5%

Shares of CRDO stock opened at $144.91 on Thursday. The stock has a market cap of $25.07 billion, a P/E ratio of 216.28 and a beta of 2.60. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $176.70. The business has a fifty day simple moving average of $131.38 and a 200-day simple moving average of $86.69.

Credo Technology Group (NASDAQ:CRDOGet Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the company posted $0.04 earnings per share. Credo Technology Group’s revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Credo Technology Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Credo Technology Group (NASDAQ:CRDO)

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