US Bancorp DE Increases Position in Credo Technology Group Holding Ltd. $CRDO

US Bancorp DE grew its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 61.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,422 shares of the company’s stock after buying an additional 2,451 shares during the period. US Bancorp DE’s holdings in Credo Technology Group were worth $595,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in Credo Technology Group by 200.0% during the second quarter. Wolff Wiese Magana LLC now owns 450 shares of the company’s stock worth $42,000 after purchasing an additional 300 shares in the last quarter. Operose Advisors LLC raised its holdings in Credo Technology Group by 69.2% during the first 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. Northwestern Mutual Wealth Management Co. purchased a new position in Credo Technology Group during the first quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credo Technology Group during the first quarter worth about $27,000. Finally, Signaturefd LLC raised its holdings in Credo Technology Group by 32.4% during the second quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after purchasing an additional 172 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Manpreet Khaira sold 5,000 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $149.67, for a total value of $748,350.00. Following the sale, the director directly owned 58,574 shares in the company, valued at $8,766,770.58. This represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Joseph Brennan sold 9,476 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 347,399 shares in the company, valued at $48,656,703.94. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 951,589 shares of company stock valued at $129,883,163. Corporate insiders own 11.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays reissued an “overweight” rating and set a $165.00 price target on shares of Credo Technology Group in a report on Tuesday, October 7th. Wall Street Zen raised shares of Credo Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. William Blair began coverage on shares of Credo Technology Group in a report on Thursday, September 18th. They issued an “outperform” rating for the company. Finally, Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $131.58.

Credo Technology Group Trading Up 5.2%

Shares of Credo Technology Group stock opened at $143.61 on Monday. 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 cap of $24.84 billion, a PE ratio of 214.34 and a beta of 2.60. The company has a 50-day moving average of $138.80 and a two-hundred day moving average of $95.51.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $223.07 million during the quarter, compared to analyst estimates 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 for the quarter was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

About Credo Technology Group

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.