Patriot Financial Group Insurance Agency LLC Makes New Investment in Credo Technology Group Holding Ltd. $CRDO

Patriot Financial Group Insurance Agency LLC acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,475 shares of the company’s stock, valued at approximately $322,000.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of Credo Technology Group by 27.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock valued at $270,000 after acquiring an additional 1,467 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Credo Technology Group by 850.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock valued at $383,000 after acquiring an additional 3,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credo Technology Group in the 1st quarter valued at about $27,000. Teacher Retirement System of Texas increased its holdings in shares of Credo Technology Group by 464.4% in the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock valued at $1,405,000 after acquiring an additional 28,788 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new position in shares of Credo Technology Group in the 2nd quarter valued at about $3,509,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $91.94, for a total value of $5,056,700.00. Following the completion of the transaction, the chief technology officer directly owned 7,328,961 shares of the company’s stock, valued at $673,824,674.34. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Joseph Brennan sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,061,978 shares of the company’s stock, valued at $220,363,588.86. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 878,915 shares of company stock valued at $111,449,895 in the last ninety days. Corporate insiders own 11.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CRDO. William Blair began coverage on Credo Technology Group in a report on Thursday, September 18th. They issued an “outperform” rating on the stock. Needham & Company LLC upped their target price on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a research report on Wednesday. Barclays upped their target price on Credo Technology Group from $85.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Finally, Roth Capital reissued a “buy” rating and issued a $170.00 target price on shares of Credo Technology Group in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $128.55.

Credo Technology Group Price Performance

CRDO opened at $143.87 on Friday. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70. The stock has a market capitalization of $24.89 billion, a P/E ratio of 214.73 and a beta of 2.60. The business has a 50 day simple moving average of $133.21 and a 200-day simple moving average of $88.37.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $190.63 million. During the same period in the previous year, the business earned $0.04 earnings per share. The business’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. Research 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.