Credo Technology Group Holding Ltd. $CRDO Stake Raised by WCM Investment Management LLC

WCM Investment Management LLC grew its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,059 shares of the company’s stock after buying an additional 10,893 shares during the period. WCM Investment Management LLC’s holdings in Credo Technology Group were worth $15,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Operose Advisors LLC raised its holdings in shares of Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after buying an additional 252 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Credo Technology Group during the first quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Credo Technology Group during the first quarter valued at approximately $27,000. Harbour Investments Inc. bought a new stake in shares of Credo Technology Group during the first quarter valued at approximately $29,000. Finally, Virtus Advisers LLC bought a new stake in shares of Credo Technology Group during the first quarter valued at approximately $31,000. Institutional investors own 80.46% of the company’s stock.

Insider Activity

In other Credo Technology Group news, 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 transaction, the chief executive officer directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $107.12, for a total transaction of $5,891,600.00. Following the transaction, the chief technology officer owned 7,108,961 shares in the company, valued at approximately $761,511,902.32. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,006,589 shares of company stock valued at $135,192,863. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $136.53 on Friday. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 203.78 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. The firm’s 50 day moving average price is $138.34 and its two-hundred day moving average price is $94.04.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results 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). The business had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The company’s quarterly revenue was up 273.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Susquehanna lifted their price target on Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a report on Thursday, September 4th. Wall Street Zen upgraded shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Barclays reiterated an “overweight” rating and set a $165.00 price objective on shares of Credo Technology Group in a research note on Tuesday, October 7th. Needham & Company LLC raised their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Finally, Roth Capital reiterated a “buy” rating and set a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.