Signaturefd LLC Raises Stake in Credo Technology Group Holding Ltd. $CRDO

Signaturefd LLC increased its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 32.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 703 shares of the company’s stock after purchasing an additional 172 shares during the quarter. Signaturefd LLC’s holdings in Credo Technology Group were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in Credo Technology Group during the first quarter worth about $52,636,000. Swedbank AB boosted its stake in shares of Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock worth $129,280,000 after acquiring an additional 733,811 shares in the last quarter. Candriam S.C.A. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $29,258,000. Westfield Capital Management Co. LP purchased a new position in Credo Technology Group in the 1st quarter valued at approximately $24,329,000. Finally, Goldman Sachs Group Inc. increased its stake in Credo Technology Group by 63.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after purchasing an additional 589,151 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $146.21, for a total transaction of $8,041,550.00. Following the transaction, the chief technology officer directly owned 7,053,961 shares of the company’s stock, valued at approximately $1,031,359,637.81. The trade was a 0.77% decrease in their ownership of the stock. The transaction 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 on 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 of the company’s stock, valued at $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 823,915 shares of company stock worth $106,393,195 in the last 90 days. 11.84% of the stock is owned by company insiders.

Credo Technology Group Trading Down 3.8%

Shares of Credo Technology Group stock opened at $143.87 on Monday. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $176.70. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 214.73 and a beta of 2.60. The company has a fifty day moving average price of $133.21 and a 200 day moving average price of $88.66.

Credo Technology Group (NASDAQ:CRDO) 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 return on equity of 19.02% and a net margin of 20.85%.The company had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRDO. Susquehanna upped their target price on Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a report on Thursday, September 4th. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research note on Saturday, September 27th. Needham & Company LLC lifted their target price 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, Stifel Nicolaus set a $160.00 price target on shares of Credo Technology Group in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Credo Technology Group presently has an average rating of “Buy” and an average target price of $128.55.

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.