Stratos Wealth Partners LTD. Buys 33,584 Shares of Credo Technology Group Holding Ltd. $CRDO

Stratos Wealth Partners LTD. lifted its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 246.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,218 shares of the company’s stock after acquiring an additional 33,584 shares during the period. Stratos Wealth Partners LTD.’s holdings in Credo Technology Group were worth $4,372,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stifel Nicolaus set a $160.00 price target on Credo Technology Group in a research report on Wednesday, October 1st. William Blair began coverage on shares of Credo Technology Group in a report on Thursday, September 18th. They set an “outperform” rating for the company. Wall Street Zen raised shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Needham & Company LLC boosted 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 report on Thursday, September 4th. Finally, Susquehanna raised their price objective on Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $131.58.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $143.61 on Friday. The company has a fifty day moving average price of $138.80 and a two-hundred day moving average price of $95.10. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $176.70. The stock has a market cap of $24.84 billion, a P/E ratio of 214.34 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Wednesday, September 3rd. The company reported $0.34 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 for the quarter, compared to the consensus estimate of $190.63 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Credo Technology Group news, Director Manpreet Khaira sold 5,000 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were 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 of the company’s stock, valued at $8,766,770.58. The trade was a 7.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $148.08, for a total value of $8,144,400.00. Following the sale, the chief technology officer directly owned 6,778,961 shares in the company, valued at $1,003,828,544.88. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,006,589 shares of company stock valued at $135,192,863 in the last 90 days. 11.84% of the stock is currently owned by corporate insiders.

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.