Credo Technology Group Holding Ltd. $CRDO Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,607,922 shares of the company’s stock after acquiring an additional 163,305 shares during the quarter. Geode Capital Management LLC owned about 2.10% of Credo Technology Group worth $334,740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CRDO. Nisa Investment Advisors LLC boosted its holdings in shares of Credo Technology Group by 3.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company’s stock worth $341,000 after buying an additional 126 shares during the period. Blue Trust Inc. lifted its position in Credo Technology Group by 3.9% in the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock worth $380,000 after buying an additional 154 shares in the last quarter. Signaturefd LLC grew its stake in Credo Technology Group by 32.4% in the second quarter. Signaturefd LLC now owns 703 shares of the company’s stock valued at $65,000 after purchasing an additional 172 shares in the last quarter. Larson Financial Group LLC increased its position in Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock worth $56,000 after purchasing an additional 245 shares during the last quarter. Finally, Operose Advisors LLC raised its stake 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 worth $25,000 after purchasing an additional 252 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Price Performance

Shares of CRDO opened at $145.52 on Friday. The company has a market capitalization of $25.17 billion, a PE ratio of 217.19 and a beta of 2.62. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $193.50. The company’s fifty day moving average price is $154.58 and its 200 day moving average price is $112.48.

Credo Technology Group (NASDAQ:CRDO) last released 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). The firm had revenue of $223.07 million for the quarter, compared to the consensus estimate 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 was up 273.6% on a year-over-year basis. During the same quarter last year, the company 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 earnings per share for the current year.

Insider Transactions 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, October 27th. The stock was sold at an average price of $156.32, for a total value of $8,597,600.00. Following the transaction, the chief technology officer directly owned 6,668,961 shares of the company’s stock, valued at $1,042,491,983.52. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Yat Tung Lam sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $169.27, for a total value of $13,541,600.00. Following the transaction, the chief operating officer owned 770,000 shares of the company’s stock, valued at approximately $130,337,900. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 973,161 shares of company stock worth $149,011,579. Insiders own 11.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CRDO. Roth Capital reissued a “buy” rating and issued a $170.00 price target on shares of Credo Technology Group in a research note on Tuesday, September 30th. TD Cowen began coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 target price for the company. Barclays restated an “overweight” rating and set a $165.00 price target on shares of Credo Technology Group in a research note on Tuesday, October 7th. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Finally, Needham & Company LLC increased their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.36.

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.