Swedbank AB Sells 1,345,125 Shares of Credo Technology Group Holding Ltd. $CRDO

Swedbank AB lessened its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 41.8% during the second quarter, HoldingsChannel.com reports. The firm owned 1,874,000 shares of the company’s stock after selling 1,345,125 shares during the quarter. Swedbank AB’s holdings in Credo Technology Group were worth $173,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Operose Advisors LLC boosted its stake in shares of Credo Technology Group by 69.2% in the first 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 period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Credo Technology Group during the 1st quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Credo Technology Group during the 1st quarter valued at $27,000. Harbour Investments Inc. acquired a new stake in shares of Credo Technology Group during the 1st quarter worth $29,000. Finally, Virtus Advisers LLC bought a new position in shares of Credo Technology Group in the first quarter worth $31,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRDO. Stifel Nicolaus set a $155.00 price objective on shares of Credo Technology Group in a research report on Thursday, September 4th. Roth Capital increased their price target on shares of Credo Technology Group from $95.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. TD Cowen lifted their price objective on shares of Credo Technology Group from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Needham & Company LLC upped their target price on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $126.27.

Insider Activity

In related news, CEO William Joseph Brennan sold 46,444 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $4,963,470.28. Following the transaction, the chief executive officer directly owned 393,338 shares in the company, valued at $42,036,032.06. This trade represents a 10.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pantas Sutardja sold 1,875 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $107.00, for a total transaction of $200,625.00. Following the completion of the transaction, the director directly owned 5,898,652 shares in the company, valued at $631,155,764. This trade represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 808,147 shares of company stock valued at $86,606,047. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Trading Up 0.0%

NASDAQ:CRDO opened at $164.44 on Thursday. Credo Technology Group Holding Ltd. has a 12 month low of $27.03 and a 12 month high of $168.42. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 245.43 and a beta of 2.59. The firm has a fifty day simple moving average of $120.09 and a two-hundred day simple moving average of $79.24.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.Credo Technology Group’s revenue for the quarter was up 273.6% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Credo Technology Group 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.