Versor Investments LP Decreases Stake in Credo Technology Group Holding Ltd. $CRDO

Versor Investments LP lowered its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 59.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,763 shares of the company’s stock after selling 11,362 shares during the quarter. Versor Investments LP’s holdings in Credo Technology Group were worth $719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its position in Credo Technology Group by 20.5% during the second quarter. Aviance Capital Partners LLC now owns 6,024 shares of the company’s stock valued at $558,000 after buying an additional 1,024 shares during the period. Strs Ohio grew its position in Credo Technology Group by 7.2% during the second quarter. Strs Ohio now owns 29,600 shares of the company’s stock valued at $2,741,000 after buying an additional 2,000 shares during the period. Atria Investments Inc acquired a new stake in Credo Technology Group during the second quarter valued at $239,000. Keybank National Association OH acquired a new stake in Credo Technology Group during the second quarter valued at $324,000. Finally, New York Life Investment Management LLC grew its position in Credo Technology Group by 7.8% during the second quarter. New York Life Investment Management LLC now owns 15,001 shares of the company’s stock valued at $1,389,000 after buying an additional 1,081 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Stock Down 3.7%

Shares of NASDAQ CRDO opened at $180.64 on Tuesday. The company’s 50-day simple moving average is $148.65 and its 200-day simple moving average is $105.39. The firm has a market cap of $31.25 billion, a price-to-earnings ratio of 269.61 and a beta of 2.62. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $193.50.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results 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). The business had revenue of $223.07 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 273.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on CRDO shares. Barclays restated an “overweight” rating and set a $165.00 price target on shares of Credo Technology Group in a research report on Tuesday, October 7th. TD Cowen started coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 price target on the stock. Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a research report on Wednesday, October 1st. William Blair started coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Credo Technology Group in a research report on Friday, October 17th. They issued an “overweight” rating and a $165.00 target price on the stock. Two equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $140.36.

Insider Transactions at Credo Technology Group

In other news, COO Yat Tung Lam sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total value of $11,482,400.00. Following the transaction, the chief operating officer directly owned 920,000 shares of the company’s stock, valued at approximately $132,047,600. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $163.98, for a total transaction of $9,018,900.00. Following the completion of the transaction, the chief technology officer directly owned 6,998,961 shares in the company, valued at approximately $1,147,689,624.78. This represents a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 971,286 shares of company stock valued at $148,656,548. Corporate insiders own 11.84% of the company’s stock.

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.