Axim Planning & Wealth Decreases Stake in Credo Technology Group Holding Ltd. $CRDO

Axim Planning & Wealth decreased its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 44.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,807 shares of the company’s stock after selling 2,275 shares during the period. Axim Planning & Wealth’s holdings in Credo Technology Group were worth $260,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Operose Advisors LLC increased its stake in Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after buying an additional 252 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Credo Technology Group in the 1st quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credo Technology Group in the 1st quarter valued at about $27,000. Harbour Investments Inc. purchased a new stake in Credo Technology Group in the 1st quarter valued at about $29,000. Finally, Virtus Advisers LLC purchased a new stake in Credo Technology Group in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Trading Down 9.1%

CRDO opened at $164.23 on Wednesday. The company has a 50 day moving average of $149.53 and a 200 day moving average of $106.28. The company has a market cap of $28.41 billion, a PE ratio of 245.12 and a beta of 2.62. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $193.50.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data 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 the consensus estimate of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm’s quarterly revenue was up 273.6% on a year-over-year basis. During the same period last year, the business posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. Research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $163.98, for a total value of $9,018,900.00. Following the completion of the transaction, the chief technology officer directly owned 6,998,961 shares of the company’s stock, valued at approximately $1,147,689,624.78. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel W. Fleming sold 112,580 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the completion of the transaction, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at approximately $63,389,299.60. The trade was a 19.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 971,286 shares of company stock valued at $148,656,548. Company insiders own 11.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. TD Cowen assumed coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 target price for the company. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. William Blair assumed coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They set an “outperform” rating for the company. Finally, Susquehanna increased their target price on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $140.36.

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.