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Allspring Global Investments Holdings LLC Boosts Position in Credo Technology Group Holding Ltd. $CRDO

Credo Technology Group logo with Computer and Technology background

Key Points

  • Allspring Global Investments Holdings LLC increased its stake in Credo Technology Group by 75.7% in Q2, now holding 191,974 shares valued at approximately $16.8 million.
  • Numerous key analysts have raised their price targets for Credo Technology Group, with Susquehanna increasing it from $115 to $165 and Mizuho lifting it from $135 to $155.
  • Recent insider sales included the CEO and a director selling substantial shares, indicative of potential shifts in the company's leadership dynamics.
  • Five stocks we like better than Credo Technology Group.

Allspring Global Investments Holdings LLC raised its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 75.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,974 shares of the company's stock after buying an additional 82,727 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Credo Technology Group worth $16,815,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Realta Investment Advisors purchased a new position in shares of Credo Technology Group in the 2nd quarter valued at $300,000. Janney Montgomery Scott LLC increased its holdings 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 purchasing an additional 1,467 shares in the last quarter. Farther Finance Advisors LLC raised its position in Credo Technology Group by 850.6% in the second quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company's stock valued at $383,000 after purchasing an additional 3,700 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credo Technology Group in the first quarter valued at about $27,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Credo Technology Group by 464.4% during the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock worth $1,405,000 after purchasing an additional 28,788 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRDO shares. Susquehanna raised their target price on Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a report on Thursday, September 4th. Mizuho lifted their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Credo Technology Group in a research report on Wednesday, October 8th. William Blair started coverage on shares of Credo Technology Group in a report on Thursday, September 18th. They set an "outperform" rating for the company. Finally, TD Cowen initiated coverage on shares of Credo Technology Group in a report on Wednesday, October 1st. They issued a "buy" rating and a $170.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $131.58.

Read Our Latest Stock Report on Credo Technology Group

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, Director Pantas Sutardja sold 4,408 shares of the company's stock in a transaction that occurred 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 owned 5,894,244 shares in the company, valued at $868,870,508.04. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William Joseph Brennan sold 9,476 shares of Credo Technology Group stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $140.06, for a total value of $1,327,208.56. Following the completion of the transaction, the chief executive officer owned 347,399 shares of the company's stock, valued at approximately $48,656,703.94. The trade was a 2.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,006,589 shares of company stock valued at $135,192,863 over the last 90 days. Corporate insiders own 11.84% of the company's stock.

Credo Technology Group Price Performance

CRDO opened at $143.61 on Friday. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $176.70. The stock has a market capitalization of $24.84 billion, a PE ratio of 214.34 and a beta of 2.60. The firm's fifty day moving average price is $138.80 and its 200 day moving average price is $94.74.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share 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 revenue was up 273.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Credo Technology Group Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report).

Institutional Ownership by Quarter for Credo Technology Group (NASDAQ:CRDO)

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