SBI Securities Co. Ltd. Purchases 2,811 Shares of Credo Technology Group Holding Ltd. $CRDO

SBI Securities Co. Ltd. grew its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 57.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,718 shares of the company’s stock after buying an additional 2,811 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Credo Technology Group were worth $715,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ethic Inc. boosted its position in Credo Technology Group by 35.5% during the 2nd quarter. Ethic Inc. now owns 7,142 shares of the company’s stock valued at $668,000 after acquiring an additional 1,873 shares in the last quarter. Realta Investment Advisors purchased a new stake in shares of Credo Technology Group in the 2nd quarter worth approximately $300,000. Convergence Investment Partners LLC bought a new position in Credo Technology Group in the 2nd quarter worth about $2,577,000. Farther Finance Advisors LLC increased its holdings in shares of Credo Technology Group by 850.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after purchasing an additional 3,700 shares in the last quarter. Finally, US Bancorp DE raised its position in Credo Technology Group by 61.7% in the 2nd quarter. US Bancorp DE now owns 6,422 shares of the company’s stock worth $595,000 after buying an additional 2,451 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $163.98, for a total transaction of $9,018,900.00. Following the sale, the chief technology officer owned 6,998,961 shares of the company’s stock, valued at approximately $1,147,689,624.78. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Yat Tung Lam sold 80,000 shares of Credo Technology Group stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total value of $11,482,400.00. Following the completion of the transaction, the chief operating officer owned 920,000 shares of the company’s stock, valued at approximately $132,047,600. This trade represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 973,161 shares of company stock valued at $149,011,579 over the last ninety days. Company insiders own 11.84% of the company’s stock.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $142.95 on Friday. The stock has a market cap of $24.73 billion, a PE ratio of 213.36 and a beta of 2.62. The firm has a fifty day moving average price of $154.49 and a 200 day moving average price of $111.29. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $193.50.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share 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 analyst estimates of $190.63 million. During the same quarter last year, the company posted $0.04 EPS. The company’s revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRDO. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Mizuho raised their price target on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.36.

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.