111 Capital Decreases Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• 111 Capital has reduced its stake in Credo Technology Group by 57.6%, selling 4,459 shares in the second quarter, leaving it with 3,276 shares valued at approximately $303,000.
• Multiple institutional investors have increased their positions in the company, including Farther Finance Advisors, which boosted its stake by 850.6% in the same period.
• Insider transactions indicate significant selling activity, with insider James Laufman selling 10,000 shares valued at $1.4 million, representing a 4.13% decline in his ownership.

111 Capital lessened its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 57.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,276 shares of the company's stock after selling 4,459 shares during the period. 111 Capital's holdings in Credo Technology Group were worth $303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in Credo Technology Group by 27.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock valued at $270,000 after buying an additional 1,467 shares during the period. Farther Finance Advisors LLC boosted its position in Credo Technology Group by 850.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company's stock valued at $383,000 after buying an additional 3,700 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credo Technology Group in the 1st quarter valued at approximately $27,000. Teacher Retirement System of Texas boosted its position in Credo Technology Group by 464.4% in the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock valued at $1,405,000 after buying an additional 28,788 shares during the period. Finally, Congress Asset Management Co. purchased a new stake in shares of Credo Technology Group during the 2nd quarter worth $3,509,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insiders Place Their Bets

In other news, insider James Laufman sold 10,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider directly owned 232,284 shares of the company's stock, valued at approximately $32,519,760. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lip Bu Tan sold 20,000 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $175.12, for a total transaction of $3,502,400.00. Following the completion of the sale, the director directly owned 422,180 shares of the company's stock, valued at $73,932,161.60. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 823,915 shares of company stock valued at $106,393,195. 11.84% of the stock is owned by insiders.

Credo Technology Group Price Performance

Shares of CRDO opened at $147.42 on Tuesday. Credo Technology Group Holding Ltd. has a 1-year low of $29.09 and a 1-year high of $176.70. The stock has a market cap of $25.50 billion, a PE ratio of 220.03 and a beta of 2.60. The firm has a fifty day moving average price of $133.99 and a 200 day moving average price of $89.37.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results 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 net margin of 20.85% and a return on equity of 19.02%. The company had revenue of $223.07 million during the quarter, compared to analysts' expectations of $190.63 million. During the same period last year, the firm earned $0.04 earnings per share. Credo Technology Group'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 fiscal year.

Analyst Upgrades and Downgrades

CRDO has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Credo Technology Group in a research report on Saturday, September 27th. Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Needham & Company LLC lifted their price objective 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. Barclays lifted their price objective on shares of Credo Technology Group from $85.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Finally, William Blair initiated coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They set an "outperform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $128.55.

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.

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