American Century Companies Inc. Has $97.62 Million Stock Position in Credo Technology Group Holding Ltd. $CRDO

American Century Companies Inc. increased its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 14.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,054,288 shares of the company’s stock after purchasing an additional 135,962 shares during the quarter. American Century Companies Inc. owned approximately 0.61% of Credo Technology Group worth $97,617,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mutual of America Capital Management LLC boosted its holdings in shares of Credo Technology Group by 20.8% in the first quarter. Mutual of America Capital Management LLC now owns 96,651 shares of the company’s stock worth $3,882,000 after buying an additional 16,664 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Credo Technology Group by 90.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 10,345 shares of the company’s stock valued at $415,000 after acquiring an additional 4,905 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Credo Technology Group by 213.6% in the 1st quarter. Cetera Investment Advisers now owns 37,495 shares of the company’s stock valued at $1,506,000 after acquiring an additional 25,539 shares in the last quarter. LPL Financial LLC boosted its stake in Credo Technology Group by 363.1% in the 1st quarter. LPL Financial LLC now owns 226,644 shares of the company’s stock worth $9,102,000 after purchasing an additional 177,708 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in Credo Technology Group during the 1st quarter worth approximately $670,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $163.98, for a total value of $9,018,900.00. Following the completion of the sale, the chief technology officer directly owned 6,998,961 shares in the company, valued at $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 is available through the SEC website. Also, COO Yat Tung Lam sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 973,161 shares of company stock valued at $149,011,579. 11.84% of the stock is currently owned by corporate insiders.

Credo Technology Group Trading Up 2.2%

Shares of NASDAQ:CRDO opened at $154.18 on Wednesday. The firm has a market cap of $26.67 billion, a price-to-earnings ratio of 230.12 and a beta of 2.62. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $193.50. The business has a fifty day simple moving average of $152.38 and a 200 day simple moving average of $117.61.

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

Wall Street Analyst Weigh In

CRDO has been the topic of several recent analyst reports. Cowen reissued a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. William Blair began coverage on Credo Technology Group in a report on Thursday, September 18th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 price objective for the company. Finally, Needham & Company LLC upped their target price on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $140.36.

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.