Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Credo Technology Group Holding Ltd. $CRDO

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,071 shares of the company’s stock, valued at approximately $5,655,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRDO. Operose Advisors LLC raised its holdings in Credo Technology Group by 69.2% in the 1st 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 period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Credo Technology Group in the first quarter valued at approximately $25,000. Harbour Investments Inc. acquired a new stake in shares of Credo Technology Group in the first quarter valued at $29,000. Virtus Advisers LLC acquired a new stake in Credo Technology Group in the 1st quarter valued at about $31,000. Finally, Wolff Wiese Magana LLC lifted its stake in Credo Technology Group by 200.0% in the second quarter. Wolff Wiese Magana LLC now owns 450 shares of the company’s stock worth $42,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Zacks Research cut Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. began coverage on shares of Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 price objective on the stock. Needham & Company LLC boosted their target price on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, TD Cowen initiated coverage on shares of Credo Technology Group in a report on Wednesday, October 1st. They set a “buy” rating and a $170.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.36.

Credo Technology Group Stock Down 10.8%

NASDAQ CRDO opened at $142.95 on Friday. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 213.36 and a beta of 2.62. The business has a fifty day moving average of $154.49 and a 200-day moving average of $111.29. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $193.50.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The business’s quarterly revenue was up 273.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, Director Manpreet Khaira sold 5,000 shares of Credo Technology Group stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $149.67, for a total value of $748,350.00. Following the completion of the sale, the director owned 58,574 shares in the company, valued at $8,766,770.58. The trade was a 7.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $156.32, for a total transaction of $8,597,600.00. Following the transaction, the chief technology officer owned 6,668,961 shares in the company, valued at approximately $1,042,491,983.52. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 973,161 shares of company stock worth $149,011,579 in the last quarter. 11.84% of the stock is currently owned by corporate insiders.

About Credo Technology Group

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.