Forum Financial Management LP Takes Position in Credo Technology Group Holding Ltd. $CRDO

Forum Financial Management LP purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,757 shares of the company’s stock, valued at approximately $348,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its position in Credo Technology Group by 3.9% during the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock worth $380,000 after acquiring an additional 154 shares during the last quarter. Signaturefd LLC grew its position in Credo Technology Group by 32.4% during the 2nd 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 grew its position in Credo Technology Group by 21.5% during the 1st 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 grew its position in Credo Technology Group by 69.2% during the 1st 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 grew its position in Credo Technology Group by 3.9% during the 2nd 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 own 80.46% of the company’s stock.

Insiders Place Their Bets

In other news, COO Yat Tung Lam sold 80,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the transaction, the chief operating officer directly owned 920,000 shares of the company’s stock, valued at $132,047,600. The trade was a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel W. Fleming sold 112,580 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the sale, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at $63,389,299.60. The trade was a 19.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,076,589 shares of company stock valued at $147,776,163 over the last 90 days. 11.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

CRDO has been the topic of a number of research reports. Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. William Blair initiated coverage on Credo Technology Group in a report on Thursday, September 18th. They set an “outperform” rating on the stock. TD Cowen initiated coverage on Credo Technology Group in a report on Wednesday, October 1st. They set a “buy” rating and a $170.00 target price on the stock. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a report on Wednesday, October 1st. Finally, Needham & Company LLC lifted their target price on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Credo Technology Group has an average rating of “Buy” and an average target price of $140.36.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $155.55 on Friday. The company has a market capitalization of $26.91 billion, a price-to-earnings ratio of 232.16 and a beta of 2.60. The business’s 50-day moving average is $141.61 and its 200-day moving average is $99.01. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $176.70.

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