Credo Technology Group Holding Ltd. $CRDO Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 31.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,265 shares of the company’s stock after buying an additional 7,166 shares during the quarter. Kestra Advisory Services LLC’s holdings in Credo Technology Group were worth $5,895,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in Credo Technology Group during the second quarter worth about $27,000. Hoey Investments Inc. bought a new stake in shares of Credo Technology Group in the 3rd quarter valued at approximately $31,000. AlphaCentric Advisors LLC acquired a new position in shares of Credo Technology Group in the 1st quarter worth approximately $33,000. Burkett Financial Services LLC acquired a new position in shares of Credo Technology Group in the 3rd quarter worth approximately $33,000. Finally, Western Wealth Management LLC acquired a new position in shares of Credo Technology Group in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $141.41 on Thursday. The firm has a market cap of $26.58 billion, a P/E ratio of 43.85, a P/E/G ratio of 0.52 and a beta of 3.29. The firm has a 50 day simple moving average of $173.44 and a 200 day simple moving average of $180.27. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. The firm had revenue of $479.00 million for the quarter, compared to the consensus estimate of $473.30 million. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. The business’s revenue for the quarter was up 114.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. On average, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Mizuho decreased their price target on Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, September 21st. Stifel Nicolaus dropped their price objective on Credo Technology Group from $350.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Bank of America dropped their price objective on Credo Technology Group from $340.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, September 2nd. Susquehanna lifted their price objective on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $235.00 target price on shares of Credo Technology Group in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

Credo Technology Group News Summary

Here’s some of the latest news about CRDO:

• Positive Sentiment: Credo forecast October-quarter revenue of $525 million to $535 million, following 115% year-over-year growth in the previous quarter. The upbeat outlook helped support the stock as AI-connectivity names rallied. Credo Technology Stocks Climb 10.8% as AI Connectivity Names Rally
• Neutral Sentiment: Credo scheduled a conference call for December 1 to discuss fiscal second-quarter results. The announcement provides a date for the next financial update but did not include new results. Credo Schedules Second Quarter Fiscal Year 2027 Financial Results Conference Call
• Negative Sentiment: Credo and other AI data-center stocks had fallen in the prior week amid concerns tied to the political climate and potential effects on data-center investment. The report said Credo had no company-specific bad news and its quarterly guidance remained intact, but sector-wide uncertainty remains a risk. Credo and Lumentum Sink 14% in a Week as Democrats’ Sweep Hits AI Data Centers

Insider Activity

In other news, CTO Chi Cheng sold 27,500 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $193.93, for a total transaction of $5,333,075.00. Following the transaction, the chief technology officer owned 5,662,397 shares of the company’s stock, valued at $1,098,108,650.21. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 50,000 shares of the firm’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $206.30, for a total value of $10,315,000.00. Following the completion of the transaction, the chief operating officer owned 2,479,169 shares in the company, valued at approximately $511,452,564.70. This represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 352,538 shares of company stock valued at $67,200,077 over the last 90 days. 9.06% of the stock is owned by company insiders.

Credo Technology Group Profile

Credo Technology Group designs and supplies high-speed connectivity solutions for data infrastructure, including data centers and networking systems. Its products help move data between processors, servers, switches and other equipment used in demanding, high-bandwidth environments. The company’s offerings include active electrical cables, semiconductor and optical digital signal processing products, retimers, and other connectivity components. These solutions are used in applications such as cloud computing and artificial intelligence infrastructure.