VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Credo Technology Group Holding Ltd. $CRDO

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, Holdings Channel reports. The institutional investor bought 21,100 shares of the company’s stock, valued at approximately $1,954,000.

A number of other large investors also recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in shares of Credo Technology Group by 3.9% in the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock valued at $380,000 after purchasing an additional 154 shares during the period. Signaturefd LLC increased its holdings in shares of Credo Technology Group by 32.4% in the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock valued at $65,000 after purchasing an additional 172 shares during the period. Larson Financial Group LLC increased its holdings in shares of Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock valued at $56,000 after purchasing an additional 245 shares during the period. Operose Advisors LLC increased its holdings in Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after buying an additional 252 shares during the last quarter. Finally, QTR Family Wealth LLC increased its holdings in Credo Technology Group by 3.9% in the second quarter. QTR Family Wealth LLC now owns 7,415 shares of the company’s stock worth $687,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 9,476 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $140.06, for a total transaction of $1,327,208.56. Following the completion of the sale, the chief executive officer owned 347,399 shares of the company’s stock, valued at $48,656,703.94. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel W. Fleming sold 112,580 shares of the company’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 value of $15,558,556.00. Following the sale, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at $63,389,299.60. The trade was a 19.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 951,589 shares of company stock valued at $129,883,163. Insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Down 4.9%

Shares of Credo Technology Group stock opened at $144.17 on Wednesday. The stock has a market capitalization of $24.94 billion, a P/E ratio of 215.18 and a beta of 2.60. The stock has a 50 day moving average price of $139.84 and a two-hundred day moving average price of $96.67. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $176.70.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 19.02% and a net margin of 20.85%.The firm’s revenue for the quarter was up 273.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRDO. JPMorgan Chase & Co. began coverage on Credo Technology Group in a report on Friday, October 17th. They issued an “overweight” rating and a $165.00 price objective on the stock. Roth Capital restated a “buy” rating and issued a $170.00 price objective on shares of Credo Technology Group in a report on Tuesday, September 30th. William Blair began coverage on Credo Technology Group in a report on Thursday, September 18th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Finally, Susquehanna increased their price objective on Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” 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 given a Hold rating to the company’s stock. According to data from MarketBeat, Credo Technology Group currently has an average rating of “Buy” and a consensus target price of $139.45.

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.