Wolff Wiese Magana LLC Raises Holdings in Credo Technology Group Holding Ltd. $CRDO

Wolff Wiese Magana LLC lifted its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 200.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450 shares of the company’s stock after purchasing an additional 300 shares during the period. Wolff Wiese Magana LLC’s holdings in Credo Technology Group were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Signaturefd LLC increased its stake in shares of Credo Technology Group by 32.4% during the 2nd 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. Rezny Wealth Management Inc. grew its stake in Credo Technology Group by 6.5% in the 2nd quarter. Rezny Wealth Management Inc. now owns 24,618 shares of the company’s stock worth $2,279,000 after acquiring an additional 1,503 shares during the period. ST Germain D J Co. Inc. purchased a new stake in Credo Technology Group in the 2nd quarter worth approximately $96,000. Congress Asset Management Co. purchased a new stake in Credo Technology Group in the 2nd quarter worth approximately $3,509,000. Finally, Dakota Wealth Management purchased a new stake in Credo Technology Group in the 2nd quarter worth approximately $504,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Stock Down 1.4%

Shares of NASDAQ CRDO opened at $142.93 on Monday. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $176.70. The firm has a fifty day moving average of $128.39 and a 200-day moving average of $85.19. The stock has a market capitalization of $24.73 billion, a PE ratio of 213.33 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data 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). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The company had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $190.63 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on CRDO. William Blair began coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They issued an “outperform” rating for the company. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Barclays lifted their target price on shares of Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Roth Capital lifted their target price on shares of Credo Technology Group from $95.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of “Buy” and a consensus target price of $126.27.

Insider Buying and Selling at Credo Technology Group

In related news, CEO William Joseph Brennan sold 150,000 shares of Credo Technology Group stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the transaction, the chief executive officer owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. The trade was a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Monday, July 7th. The shares were sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the transaction, the chief technology officer owned 7,328,961 shares in the company, valued at $673,824,674.34. The trade was a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 743,915 shares of company stock worth $91,779,645 in the last 90 days. Company 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.