Oak Ridge Investments LLC Has $4.92 Million Position in Credo Technology Group Holding Ltd. $CRDO

Oak Ridge Investments LLC reduced its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 3.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 53,157 shares of the company’s stock after selling 2,048 shares during the quarter. Oak Ridge Investments LLC’s holdings in Credo Technology Group were worth $4,922,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Swedbank AB grew its position in shares of Credo Technology Group by 29.5% in the first quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock valued at $129,280,000 after purchasing an additional 733,811 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Credo Technology Group by 6.1% in the first quarter. Alliancebernstein L.P. now owns 1,846,387 shares of the company’s stock valued at $74,151,000 after purchasing an additional 105,405 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after purchasing an additional 589,151 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $52,636,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Credo Technology Group by 74.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,098,369 shares of the company’s stock valued at $44,110,000 after purchasing an additional 468,145 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Yat Tung Lam sold 80,000 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total value of $11,482,400.00. Following the completion of the transaction, the chief operating officer owned 920,000 shares in the company, valued at approximately $132,047,600. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Joseph Brennan sold 150,000 shares of Credo Technology Group stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 2,061,978 shares of the company’s stock, valued at $220,363,588.86. This trade represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 997,181 shares of company stock worth $131,069,480. 11.84% of the stock is currently owned by insiders.

Credo Technology Group Trading Down 8.2%

NASDAQ CRDO opened at $138.83 on Friday. The stock’s 50 day moving average is $136.63 and its two-hundred day moving average is $91.74. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of 207.21 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 1-year low of $29.09 and a 1-year high of $176.70.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share 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 company had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRDO. Susquehanna raised their price target on Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a research report on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a research report on Wednesday, October 1st. William Blair initiated coverage on Credo Technology Group in a research report on Thursday, September 18th. They set an “outperform” rating on the stock. Barclays reissued an “overweight” rating and set a $165.00 target price on shares of Credo Technology Group in a research report on Tuesday, October 7th. Finally, Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $128.55.

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.