Bernard Wealth Management Corp. Invests $93,000 in Credo Technology Group Holding Ltd. $CRDO

Bernard Wealth Management Corp. bought a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 1,000 shares of the company’s stock, valued at approximately $93,000.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Credo Technology Group by 3.9% during the second quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock valued at $380,000 after acquiring an additional 154 shares during the period. Callan Family Office LLC bought a new stake in Credo Technology Group during the second quarter valued at about $428,000. US Bancorp DE increased its holdings in shares of Credo Technology Group by 61.7% in the second quarter. US Bancorp DE now owns 6,422 shares of the company’s stock worth $595,000 after purchasing an additional 2,451 shares during the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Credo Technology Group by 14.1% in the second quarter. KLP Kapitalforvaltning AS now owns 31,600 shares of the company’s stock worth $2,926,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new stake in shares of Credo Technology Group in the second quarter worth about $478,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $138.83 on Friday. The company has a 50 day moving average price of $136.63 and a 200-day moving average price of $91.42. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $176.70. The company has a market capitalization of $24.02 billion, a PE ratio of 207.21 and a beta of 2.60.

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 company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business’s revenue was up 273.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $107.12, for a total transaction of $5,891,600.00. Following the sale, the chief technology officer directly owned 7,108,961 shares of the company’s stock, valued at $761,511,902.32. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Yat Tung Lam sold 80,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the sale, the chief operating officer directly owned 920,000 shares in the company, valued at $132,047,600. This trade represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 997,181 shares of company stock valued at $131,069,480. Company insiders own 11.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRDO. TD Cowen began coverage on Credo Technology Group in a report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 target price on the stock. Needham & Company LLC lifted 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 research report on Thursday, September 4th. Mizuho lifted their price target on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Finally, William Blair began coverage on Credo Technology Group in a research report on Thursday, September 18th. They issued an “outperform” rating for the company. Two 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, the stock has a consensus rating of “Buy” and a consensus price target of $128.55.

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.