Silver Oak Securities Incorporated Takes $1.21 Million Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Silver Oak Securities Incorporated acquired 13,094 shares of Credo Technology Group Holding Ltd., valued at approximately $1.2 million, indicating strong institutional interest in the company.
• Analysts have upgraded Credo's stock to a "strong-buy" rating, with target prices increased significantly, reflecting positive market sentiment.
• Recent insider transactions included CFO Daniel W. Fleming selling 3,790 shares, hinting at possible strategic repositioning within the company.

Silver Oak Securities Incorporated bought a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,094 shares of the company's stock, valued at approximately $1,212,000.

Several other large investors have also made changes to their positions in the company. Nuveen LLC purchased a new position in Credo Technology Group in the first quarter valued at about $52,636,000. Swedbank AB raised its position in Credo Technology Group by 29.5% in the first quarter. Swedbank AB now owns 3,219,125 shares of the company's stock valued at $129,280,000 after purchasing an additional 733,811 shares during the period. Candriam S.C.A. purchased a new position in Credo Technology Group in the first quarter valued at about $29,258,000. Westfield Capital Management Co. LP purchased a new position in Credo Technology Group in the first quarter valued at about $24,329,000. Finally, Goldman Sachs Group Inc. raised its position in Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after purchasing an additional 589,151 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays raised their target price on Credo Technology Group from $85.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Noble Financial upgraded Credo Technology Group to a "strong-buy" rating in a research note on Tuesday, June 3rd. Cowen restated a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Mizuho raised their target price on Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Finally, Wall Street Zen downgraded Credo Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $126.27.

Credo Technology Group Price Performance

NASDAQ:CRDO traded down $3.81 during mid-day trading on Tuesday, reaching $160.29. The stock had a trading volume of 3,476,709 shares, compared to its average volume of 5,278,578. The stock's 50 day simple moving average is $124.32 and its two-hundred day simple moving average is $82.22. Credo Technology Group Holding Ltd. has a 1-year low of $28.75 and a 1-year high of $176.70. The company has a market capitalization of $27.73 billion, a price-to-earnings ratio of 239.23 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) 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 business had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. During the same period in the prior year, the business earned $0.04 EPS. The business's revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $107.12, for a total value of $5,891,600.00. Following the transaction, the chief technology officer owned 7,108,961 shares of the company's stock, valued at $761,511,902.32. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Joseph Brennan sold 150,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,061,978 shares in the company, valued at $220,363,588.86. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 756,163 shares of company stock worth $88,943,253 in the last three months. 11.84% of the stock is currently owned by corporate insiders.

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.