Credo Technology Group Holding Ltd. $CRDO Stock Position Lifted by Acadian Asset Management LLC

Acadian Asset Management LLC grew its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 851.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,941 shares of the company’s stock after buying an additional 99,280 shares during the quarter. Acadian Asset Management LLC owned about 0.06% of Credo Technology Group worth $10,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Credo Technology Group in the 1st quarter worth approximately $52,636,000. Swedbank AB grew its stake in Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock valued at $129,280,000 after acquiring an additional 733,811 shares in the last quarter. Candriam S.C.A. acquired a new position in Credo Technology Group in the 1st quarter valued at approximately $29,258,000. FengHe Fund Management Pte. Ltd. acquired a new stake in Credo Technology Group during the second quarter valued at $63,013,000. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $24,329,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $163.98, for a total value of $9,018,900.00. Following the sale, the chief technology officer owned 6,998,961 shares of the company’s stock, valued at approximately $1,147,689,624.78. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Yat Tung Lam sold 80,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the completion of the transaction, the chief operating officer directly owned 920,000 shares of the company’s stock, valued at $132,047,600. This represents a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 973,161 shares of company stock valued at $149,011,579 over the last three months. Company insiders own 11.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. started coverage on Credo Technology Group in a research report on Friday, October 17th. They issued an “overweight” rating and a $165.00 price target for the company. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. William Blair assumed coverage on shares of Credo Technology Group in a report on Thursday, September 18th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday, October 8th. Finally, Needham & Company LLC lifted their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Credo Technology Group presently has an average rating of “Moderate Buy” and a consensus target price of $140.36.

Credo Technology Group Price Performance

Credo Technology Group stock opened at $158.50 on Wednesday. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $193.50. The company’s 50 day simple moving average is $153.60 and its 200 day simple moving average is $110.72. The firm has a market capitalization of $27.42 billion, a price-to-earnings ratio of 236.57 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results 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). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The business had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS 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.