Harbour Investments Inc. Has $311,000 Stake in Credo Technology Group Holding Ltd. $CRDO

Harbour Investments Inc. increased its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 362.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,362 shares of the company’s stock after acquiring an additional 2,635 shares during the period. Harbour Investments Inc.’s holdings in Credo Technology Group were worth $311,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CRDO. GAMMA Investing LLC increased its holdings in shares of Credo Technology Group by 103.5% during the 1st quarter. GAMMA Investing LLC now owns 1,982 shares of the company’s stock valued at $80,000 after acquiring an additional 1,008 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Credo Technology Group during the 1st quarter valued at about $301,000. Janney Montgomery Scott LLC increased its holdings in shares of Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock valued at $270,000 after acquiring an additional 1,467 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Credo Technology Group during the 1st quarter valued at about $159,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Credo Technology Group by 15.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,730 shares of the company’s stock valued at $873,000 after acquiring an additional 2,947 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Trading Down 4.9%

Shares of CRDO stock opened at $144.17 on Wednesday. The stock has a 50 day moving average of $139.84 and a two-hundred day moving average of $96.67. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70. The company has a market capitalization of $24.94 billion, a P/E ratio of 215.18 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 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $190.63 million. During the same quarter in the prior year, the business posted $0.04 EPS. Credo Technology Group’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Sell-side analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. William Blair assumed coverage on Credo Technology Group in a report on Thursday, September 18th. They issued an “outperform” rating on the stock. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. JPMorgan Chase & Co. assumed coverage on Credo Technology Group in a report on Friday, October 17th. They issued an “overweight” rating and a $165.00 target price on the stock. Mizuho raised their target price on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of “Buy” and a consensus target price of $139.45.

Insider Buying and Selling

In related news, CFO Daniel W. Fleming sold 112,580 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the completion of the transaction, the chief financial officer owned 458,678 shares in the company, valued at $63,389,299.60. This trade represents a 19.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $163.98, for a total value of $9,018,900.00. Following the transaction, the chief technology officer owned 6,998,961 shares of the company’s stock, valued at $1,147,689,624.78. This trade represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 951,589 shares of company stock worth $129,883,163 over the last 90 days. Corporate 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.