Praxis Investment Management Inc. Sells 6,690 Shares of Credo Technology Group Holding Ltd. $CRDO

Praxis Investment Management Inc. cut its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 46.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,560 shares of the company’s stock after selling 6,690 shares during the quarter. Praxis Investment Management Inc.’s holdings in Credo Technology Group were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of Credo Technology Group by 3.9% during the 2nd 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 last quarter. Signaturefd LLC grew its holdings in shares of Credo Technology Group by 32.4% during the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock valued at $65,000 after purchasing an additional 172 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Credo Technology Group by 21.5% during the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock valued at $56,000 after purchasing an additional 245 shares during the last quarter. Operose Advisors LLC grew its holdings in shares of Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after purchasing an additional 252 shares during the last quarter. Finally, QTR Family Wealth LLC grew its holdings in shares of Credo Technology Group by 3.9% during the 2nd quarter. QTR Family Wealth LLC now owns 7,415 shares of the company’s stock valued at $687,000 after purchasing an additional 280 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $143.61 on Friday. The company has a market capitalization of $24.84 billion, a P/E ratio of 214.34 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $176.70. The company’s 50 day moving average price is $138.80 and its 200-day moving average price is $94.74.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results 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). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same quarter last year, the firm posted $0.04 EPS. The firm’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. Analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Insider Activity at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 112,580 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 458,678 shares in the company, valued at $63,389,299.60. The trade was a 19.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Joseph Brennan sold 150,000 shares of the business’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 transaction, the chief executive officer owned 2,061,978 shares in the company, valued at $220,363,588.86. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,006,589 shares of company stock worth $135,192,863 over the last quarter. 11.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRDO. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 4th. JPMorgan Chase & Co. initiated coverage on shares of Credo Technology Group in a report on Friday. They set an “overweight” rating and a $165.00 target price on the stock. Barclays reissued an “overweight” rating and set a $165.00 target price on shares of Credo Technology Group in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $131.58.

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.