K.J. Harrison & Partners Inc Invests $926,000 in Credo Technology Group Holding Ltd. $CRDO

K.J. Harrison & Partners Inc bought a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $926,000.

Several other large investors also recently made changes to their positions in the business. Nuveen LLC acquired a new position in shares of Credo Technology Group during the first quarter valued at $52,636,000. Swedbank AB lifted its stake in shares of Credo Technology Group by 29.5% during the first quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock valued at $129,280,000 after acquiring an additional 733,811 shares during the period. Candriam S.C.A. acquired a new position in shares of Credo Technology Group during the first quarter valued at $29,258,000. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Credo Technology Group during the second quarter valued at $63,013,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Credo Technology Group during the first quarter valued at $24,329,000. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $187.62 on Monday. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $193.50. The business has a 50-day moving average of $147.35 and a two-hundred day moving average of $104.37. The company has a market capitalization of $32.46 billion, a P/E ratio of 280.03 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last announced 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). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The business had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. During the same quarter last year, the company earned $0.04 earnings per share. The firm’s 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, equities analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRDO. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Roth Capital reissued a “buy” rating and issued a $170.00 target price on shares of Credo Technology Group in a research note on Tuesday, September 30th. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a research note on Wednesday, October 1st. TD Cowen began coverage on Credo Technology Group in a research note on Wednesday, October 1st. They issued a “buy” rating and a $170.00 target price on the stock. Finally, William Blair began coverage on Credo Technology Group in a research note on Thursday, September 18th. They issued an “outperform” rating on the stock. Two 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.com, the stock currently has a consensus rating of “Buy” and an average target price of $140.36.

Insider Buying and Selling

In related news, Director Pantas Sutardja sold 4,408 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $147.41, for a total transaction of $649,783.28. Following the completion of the transaction, the director directly owned 5,894,244 shares in the company, valued at approximately $868,870,508.04. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Yat Tung Lam sold 80,000 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $169.27, for a total value of $13,541,600.00. Following the transaction, the chief operating officer owned 770,000 shares of the company’s stock, valued at approximately $130,337,900. The trade was a 9.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 903,270 shares of company stock valued at $137,010,168. 11.84% of the stock is owned by company insiders.

Credo Technology Group Company 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.