Rhumbline Advisers Buys 9,615 Shares of Credo Technology Group Holding Ltd. $CRDO

Rhumbline Advisers grew its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 205,046 shares of the company’s stock after acquiring an additional 9,615 shares during the quarter. Rhumbline Advisers’ holdings in Credo Technology Group were worth $8,235,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in Credo Technology Group by 27.9% in the first quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock worth $270,000 after acquiring an additional 1,467 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credo Technology Group during the first quarter valued at $27,000. Teacher Retirement System of Texas lifted its holdings in shares of Credo Technology Group by 464.4% during the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock valued at $1,405,000 after purchasing an additional 28,788 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Credo Technology Group by 15.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,730 shares of the company’s stock valued at $873,000 after purchasing an additional 2,947 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Credo Technology Group during the first quarter valued at $301,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Performance

CRDO stock opened at $159.32 on Friday. Credo Technology Group Holding Ltd. has a fifty-two week low of $26.31 and a fifty-two week high of $168.42. The business’s 50-day moving average is $114.53 and its two-hundred day moving average is $76.28. The company has a market cap of $27.56 billion, a price-to-earnings ratio of 237.79 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. During the same period in the prior year, the company posted $0.04 EPS. The firm’s revenue was up 273.6% compared to the same quarter last year. 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 year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CRDO shares. Stifel Nicolaus set a $155.00 price target on Credo Technology Group in a report on Thursday, September 4th. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Roth Capital upped their price target on Credo Technology Group from $95.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. Finally, TD Cowen upped their price target on Credo Technology Group from $140.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $126.27.

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 3,790 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $137.55, for a total value of $521,314.50. Following the completion of the sale, the chief financial officer owned 576,178 shares in the company, valued at $79,253,283.90. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James Laufman sold 10,000 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider owned 232,284 shares of the company’s stock, valued at approximately $32,519,760. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,033,917 shares of company stock valued at $99,967,419. 11.84% of the stock is currently owned by corporate insiders.

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.