Credo Technology Group Holding Ltd. $CRDO Position Increased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. increased its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 403.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,537 shares of the company’s stock after purchasing an additional 54,129 shares during the period. Jefferies Financial Group Inc.’s holdings in Credo Technology Group were worth $13,156,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Machina Capital S.A.S. acquired a new stake in Credo Technology Group during the third quarter worth $932,000. Moneco Advisors LLC increased its holdings in Credo Technology Group by 4.4% in the 3rd quarter. Moneco Advisors LLC now owns 3,777 shares of the company’s stock valued at $736,000 after buying an additional 160 shares during the period. MKP Capital Management L.L.C. increased its holdings in Credo Technology Group by 91.4% in the 3rd quarter. MKP Capital Management L.L.C. now owns 20,000 shares of the company’s stock valued at $3,896,000 after buying an additional 9,550 shares during the period. Vestor Capital LLC raised its stake in shares of Credo Technology Group by 304.0% in the 3rd quarter. Vestor Capital LLC now owns 6,788 shares of the company’s stock valued at $1,322,000 after buying an additional 5,108 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Credo Technology Group in the 3rd quarter valued at $202,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Credo Technology Group news, CTO Chi Cheng sold 27,500 shares of Credo Technology Group stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $193.93, for a total transaction of $5,333,075.00. Following the completion of the transaction, the chief technology officer directly owned 5,662,397 shares of the company’s stock, valued at approximately $1,098,108,650.21. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Brennan sold 16,672 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $151.88, for a total transaction of $2,532,143.36. Following the completion of the sale, the chief executive officer owned 1,600,830 shares in the company, valued at $243,134,060.40. This represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 352,538 shares of company stock worth $67,200,077 over the last three months. 9.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRDO. Weiss Ratings downgraded shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Rosenblatt Securities reiterated a “neutral” rating and set a $235.00 target price on shares of Credo Technology Group in a research report on Thursday, October 15th. Susquehanna upped their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Mizuho lowered their target price on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, September 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating for the company in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

Top Credo Technology Group Stories

Here are a few of the latest stories about CRDO:

• Positive Sentiment: Credo forecast October-quarter revenue of $525 million to $535 million, following 115% year-over-year growth in the previous quarter. The upbeat outlook helped support the stock as AI-connectivity names rallied. Credo Technology Stocks Climb 10.8% as AI Connectivity Names Rally
• Positive Sentiment: A separate analysis noted that Credo’s revenue has more than doubled, analysts have continued raising earnings estimates, and the company has a streak of quarterly earnings beats. Those factors suggest investors may be looking beyond the recent share-price weakness toward future growth. Prediction: The AI Stock Wall Street Could Be Underestimating for 2027
• Negative Sentiment: Credo and other AI data-center stocks had fallen in the prior week amid concerns tied to the political climate and potential effects on data-center investment. The report said Credo had no company-specific bad news and its quarterly guidance remained intact, but sector-wide uncertainty remains a risk. Credo and Lumentum Sink 14% in a Week as Democrats’ Sweep Hits AI Data Centers

Credo Technology Group Price Performance

Credo Technology Group stock opened at $141.41 on Thursday. The company has a market capitalization of $26.58 billion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 0.52 and a beta of 3.29. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67. The business has a 50 day simple moving average of $173.44 and a 200 day simple moving average of $180.27.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. The business had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. During the same quarter in the previous year, the firm earned $0.52 EPS. Credo Technology Group’s quarterly revenue was up 114.7% on a year-over-year basis. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current fiscal year.

About Credo Technology Group

Credo Technology Group designs and supplies high-speed connectivity solutions for data infrastructure, including data centers and networking systems. Its products help move data between processors, servers, switches and other equipment used in demanding, high-bandwidth environments. The company’s offerings include active electrical cables, semiconductor and optical digital signal processing products, retimers, and other connectivity components. These solutions are used in applications such as cloud computing and artificial intelligence infrastructure.