Fortis Capital Advisors LLC Makes New $418,000 Investment in Credo Technology Group Holding Ltd. $CRDO

Fortis Capital Advisors LLC purchased a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, Holdings Channel.com reports. The firm purchased 4,511 shares of the company’s stock, valued at approximately $418,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRDO. Operose Advisors LLC boosted its holdings in shares of Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after buying an additional 252 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Credo Technology Group in the 1st quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credo Technology Group in the 1st quarter worth $27,000. Harbour Investments Inc. bought a new position in shares of Credo Technology Group in the 1st quarter worth $29,000. Finally, Virtus Advisers LLC bought a new position in shares of Credo Technology Group in the 1st quarter worth $31,000. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group Stock Performance

Shares of CRDO opened at $143.87 on Friday. The business has a 50-day moving average of $133.21 and a 200 day moving average of $88.37. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $176.70. The firm has a market cap of $24.89 billion, a P/E ratio of 214.73 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data 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). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same period last year, the business posted $0.04 EPS. The company’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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CRDO shares. Roth Capital reiterated a “buy” rating and issued a $170.00 target price on shares of Credo Technology Group in a report on Tuesday. Needham & Company LLC increased their target price on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Cowen reiterated a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. William Blair started coverage on Credo Technology Group in a report on Thursday, September 18th. They issued an “outperform” rating on the stock. Finally, Barclays increased their target price on Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $128.55.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 80,000 shares of Credo Technology Group 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 transaction, the chief operating officer owned 920,000 shares of the company’s stock, valued at $132,047,600. The trade was a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Joseph Brennan sold 150,000 shares of Credo Technology Group stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the transaction, the chief executive officer directly owned 2,061,978 shares of the company’s stock, valued at $220,363,588.86. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 878,915 shares of company stock valued at $111,449,895 in the last quarter. 11.84% of the stock is currently owned by corporate insiders.

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.