Princeton Global Asset Management LLC Purchases New Position in Credo Technology Group Holding Ltd. $CRDO

Princeton Global Asset Management LLC purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, HoldingsChannel.com reports. The firm purchased 27,458 shares of the company’s stock, valued at approximately $2,542,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Realta Investment Advisors acquired a new position in Credo Technology Group in the 2nd quarter valued at about $300,000. Janney Montgomery Scott LLC grew its position in shares of Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock worth $270,000 after purchasing an additional 1,467 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Credo Technology Group by 850.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after purchasing an additional 3,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credo Technology Group during the 1st quarter worth approximately $27,000. Finally, Teacher Retirement System of Texas grew its position in shares of Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock worth $1,405,000 after purchasing an additional 28,788 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 9,476 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $140.06, for a total transaction of $1,327,208.56. Following the sale, the chief executive officer owned 347,399 shares of the company’s stock, valued at approximately $48,656,703.94. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Monday, October 13th. The shares were sold at an average price of $148.08, for a total value of $8,144,400.00. Following the completion of the transaction, the chief technology officer owned 6,778,961 shares of the company’s stock, valued at $1,003,828,544.88. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 951,589 shares of company stock valued at $129,883,163. Corporate insiders own 11.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRDO. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. began coverage on shares of Credo Technology Group in a research report on Friday. They set an “overweight” rating and a $165.00 target price on the stock. Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Susquehanna increased their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research report on Thursday, September 4th. Finally, Barclays restated an “overweight” rating and set a $165.00 target price on shares of Credo Technology Group in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Credo Technology Group presently has a consensus rating of “Buy” and a consensus target price of $131.58.

Credo Technology Group Trading Up 5.2%

NASDAQ CRDO opened at $143.61 on Monday. The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of 214.34 and a beta of 2.60. The firm’s 50 day simple moving average is $138.80 and its 200 day simple moving average is $95.51. 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 posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The business’s revenue was up 273.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

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.