Credo Technology Group Holding Ltd. $CRDO Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 99.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,657 shares of the company’s stock after selling 297,846 shares during the period. Allianz Asset Management GmbH’s holdings in Credo Technology Group were worth $246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in shares of Credo Technology Group by 3.9% in the second quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock valued at $380,000 after purchasing an additional 154 shares during the period. Signaturefd LLC raised its position in Credo Technology Group by 32.4% during the second quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after acquiring an additional 172 shares during the last quarter. Larson Financial Group LLC raised its position in Credo Technology Group by 21.5% during the first 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 last quarter. Operose Advisors LLC raised its position in Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after acquiring an additional 252 shares during the last quarter. Finally, QTR Family Wealth LLC raised its position in Credo Technology Group by 3.9% during the second quarter. QTR Family Wealth LLC now owns 7,415 shares of the company’s stock worth $687,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $162.18 on Wednesday. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $176.70. The company has a 50 day moving average price of $143.45 and a 200 day moving average price of $101.05. The firm has a market capitalization of $28.06 billion, a price-to-earnings ratio of 242.06 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate 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 period last year, the company posted $0.04 EPS. The business’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 analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 112,580 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the completion of the sale, the chief financial officer directly owned 458,678 shares in the company, valued at $63,389,299.60. The trade was a 19.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $150.34, for a total transaction of $8,268,700.00. Following the sale, the chief technology officer owned 6,723,961 shares of the company’s stock, valued at approximately $1,010,880,296.74. This represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,021,589 shares of company stock valued at $141,957,163 over the last quarter. Company insiders own 11.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CRDO shares. 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. William Blair started coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They set an “outperform” rating for the company. Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Barclays restated an “overweight” rating and set a $165.00 target price on shares of Credo Technology Group in a research report on Tuesday, October 7th. Finally, TD Cowen started coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $140.36.

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.