Strs Ohio Buys 2,000 Shares of Credo Technology Group Holding Ltd. $CRDO

Strs Ohio grew its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,600 shares of the company’s stock after acquiring an additional 2,000 shares during the period. Strs Ohio’s holdings in Credo Technology Group were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CRDO. Nuveen LLC bought a new stake in shares of Credo Technology Group during the first quarter worth approximately $52,636,000. Swedbank AB raised 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 worth $129,280,000 after buying an additional 733,811 shares during the last quarter. Candriam S.C.A. bought a new stake in shares of Credo Technology Group during the first quarter worth approximately $29,258,000. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Credo Technology Group during the second quarter worth approximately $63,013,000. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Credo Technology Group during the first quarter worth approximately $24,329,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Down 3.7%

Credo Technology Group stock opened at $180.64 on Tuesday. The stock has a market capitalization of $31.25 billion, a PE ratio of 269.61 and a beta of 2.62. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $193.50. The company has a 50 day moving average of $148.65 and a 200-day moving average of $105.39.

Credo Technology Group (NASDAQ:CRDO) last announced 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 analyst estimates of $190.63 million. During the same quarter in the previous year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Activity

In other Credo Technology Group news, COO Yat Tung Lam sold 80,000 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $169.27, for a total transaction of $13,541,600.00. Following the sale, the chief operating officer directly owned 770,000 shares of the company’s stock, valued at approximately $130,337,900. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pantas Sutardja sold 4,408 shares of the company’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $147.41, for a total transaction of $649,783.28. Following the sale, the director directly owned 5,894,244 shares in the company, valued at $868,870,508.04. This trade represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 971,286 shares of company stock valued at $148,656,548. 11.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRDO. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th. Wall Street Zen raised shares of Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Mizuho boosted their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Finally, Cowen restated a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $140.36.

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.