Y Intercept Hong Kong Ltd Lowers Holdings in Credo Technology Group Holding Ltd. $CRDO

Y Intercept Hong Kong Ltd trimmed its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 95.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,338 shares of the company’s stock after selling 85,729 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Credo Technology Group were worth $402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas lifted its stake in shares of Credo Technology Group by 464.4% in the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock worth $1,405,000 after buying an additional 28,788 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Credo Technology Group during the 1st quarter valued at $548,000. Allworth Financial LP increased its holdings in shares of Credo Technology Group by 216.8% in the 1st quarter. Allworth Financial LP now owns 2,807 shares of the company’s stock worth $119,000 after purchasing an additional 1,921 shares in the last quarter. Xponance Inc. raised its stake in shares of Credo Technology Group by 9.2% in the first quarter. Xponance Inc. now owns 11,165 shares of the company’s stock worth $448,000 after purchasing an additional 937 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in Credo Technology Group by 20.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 96,651 shares of the company’s stock worth $3,882,000 after buying an additional 16,664 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 112,580 shares of Credo Technology Group stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total value 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 $63,389,299.60. This trade represents a 19.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Yat Tung Lam sold 80,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the completion of the sale, the chief operating officer owned 920,000 shares in the company, valued at approximately $132,047,600. This trade represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 973,161 shares of company stock worth $149,011,579 over the last 90 days. 11.84% of the stock is owned by insiders.

Credo Technology Group Trading Up 0.5%

Shares of CRDO stock opened at $163.61 on Friday. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $193.50. The stock’s 50-day moving average price is $151.97 and its 200-day moving average price is $108.04. The stock has a market capitalization of $28.30 billion, a price-to-earnings ratio of 244.19 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $190.63 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The firm’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRDO. Roth Capital reaffirmed a “buy” rating and set a $170.00 price target on shares of Credo Technology Group in a report on Tuesday, September 30th. Susquehanna increased their price objective 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. Needham & Company LLC raised their price target on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. started coverage on Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.36.

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.