21,100 Shares in Credo Technology Group Holding Ltd. $CRDO Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems ET Al acquired 21,100 shares of Credo Technology Group Holding Ltd. (CRDO), valued at approximately $1,954,000, in the second quarter.
• Credo Technology Group has received multiple upgrades from analysts, with price targets raised by Susquehanna and Mizuho to $165.00 and $155.00, respectively, reflecting a positive outlook on the stock.
• Insiders have recently sold a significant amount of stock, with CEO William Joseph Brennan and CFO Daniel W. Fleming each reducing their positions markedly, alongside a total of 951,589 shares sold worth approximately $129.9 million last quarter.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,100 shares of the company's stock, valued at approximately $1,954,000.

Several other institutional investors have also bought and sold shares of CRDO. Operose Advisors LLC lifted its holdings in Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Credo Technology Group in the first quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credo Technology Group in the first quarter worth about $27,000. Harbour Investments Inc. acquired a new stake in Credo Technology Group in the first quarter worth about $29,000. Finally, Virtus Advisers LLC acquired a new stake in Credo Technology Group in the first quarter worth about $31,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Analyst Ratings Changes

CRDO has been the subject of several research analyst reports. Susquehanna upped their price objective on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a "positive" rating in a report on Thursday, September 4th. JPMorgan Chase & Co. started coverage on shares of Credo Technology Group in a report on Friday, October 17th. They issued an "overweight" rating and a $165.00 price target for the company. Mizuho upped their price target 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. William Blair started coverage on shares of Credo Technology Group in a report on Thursday, September 18th. They issued an "outperform" rating for the company. Finally, Wall Street Zen raised shares of Credo Technology Group from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $139.45.

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 9,476 shares of the business's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $140.06, for a total transaction of $1,327,208.56. Following the sale, the chief executive officer owned 347,399 shares in the company, valued at approximately $48,656,703.94. The trade was a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel W. Fleming sold 112,580 shares of the business's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total value of $15,558,556.00. Following the sale, the chief financial officer owned 458,678 shares in the company, valued at approximately $63,389,299.60. The trade was a 19.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 951,589 shares of company stock worth $129,883,163. 11.84% of the stock is owned by company insiders.

Credo Technology Group Trading Down 4.9%

NASDAQ CRDO opened at $144.17 on Wednesday. The stock's 50-day moving average price is $139.84 and its two-hundred day moving average price is $96.67. The company has a market cap of $24.94 billion, a PE ratio of 215.18 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $176.70.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.Credo Technology Group's quarterly revenue was up 273.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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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