Cookson Peirce & Co. Inc. Takes $1.11 Million Position in Credo Technology Group Holding Ltd. $CRDO

Cookson Peirce & Co. Inc. purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,000 shares of the company’s stock, valued at approximately $1,111,000.

Other institutional investors have also added to or reduced their stakes in the company. Operose Advisors LLC lifted its stake in Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Credo Technology Group during the 1st quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credo Technology Group during the 1st quarter worth $27,000. Harbour Investments Inc. acquired a new stake in Credo Technology Group during the 1st quarter worth $29,000. Finally, Virtus Advisers LLC acquired a new position in shares of Credo Technology Group in the 1st quarter valued at $31,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Credo Technology Group news, Director Pantas Sutardja sold 4,408 shares of Credo Technology Group stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $147.41, for a total value of $649,783.28. Following the sale, the director owned 5,894,244 shares of the company’s stock, valued at approximately $868,870,508.04. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel W. Fleming sold 112,580 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the sale, the chief financial officer owned 458,678 shares in the company, valued at $63,389,299.60. The trade was a 19.71% 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 $138,151,863. Company insiders own 11.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CRDO shares. Roth Capital reaffirmed a “buy” rating and issued a $170.00 target price on shares of Credo Technology Group in a research note on Tuesday, September 30th. William Blair began coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. began coverage on shares of Credo Technology Group in a report on Friday, October 17th. They issued an “overweight” rating and a $165.00 price target on the stock. Cowen reissued a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. Finally, Mizuho increased their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $140.36.

Credo Technology Group Trading Down 4.8%

CRDO opened at $137.20 on Thursday. Credo Technology Group Holding Ltd. has a 1-year low of $29.09 and a 1-year high of $176.70. The company has a market cap of $23.74 billion, a P/E ratio of 204.78 and a beta of 2.60. The company has a fifty day moving average price of $140.16 and a two-hundred day moving average price of $96.95.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data 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). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The firm’s quarterly revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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.