Amundi Has $9.61 Million Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Amundi has decreased its stake in Credo Technology Group by 10.4%, now holding approximately $9.61 million worth of shares.
• Several institutional investors, including Larson Financial Group and Operose Advisors, have increased their positions in Credo Technology Group during the same quarter.
• Wall Street analysts have significantly raised their price targets for the stock, with Barclays setting a new target of $165 per share, indicating strong confidence in the company’s growth prospects.

Amundi lowered its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 10.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,626 shares of the company's stock after selling 29,968 shares during the period. Amundi owned 0.15% of Credo Technology Group worth $9,605,000 at the end of the most recent quarter.

Other hedge funds have 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 first 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credo Technology Group in the first quarter valued at approximately $27,000. Teacher Retirement System of Texas boosted its position in Credo Technology Group by 464.4% in the first 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 in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Credo Technology Group by 15.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,730 shares of the company's stock valued at $873,000 after buying an additional 2,947 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Credo Technology Group during the first quarter worth $301,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Buying and Selling

In related news, Director Lip Bu Tan sold 171,473 shares of Credo Technology Group stock in a transaction on Monday, June 16th. The shares were sold at an average price of $77.90, for a total transaction of $13,357,746.70. Following the completion of the transaction, the director owned 613,725 shares of the company's stock, valued at $47,809,177.50. This trade represents a 21.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Monday, July 14th. The stock was sold at an average price of $98.53, for a total transaction of $5,419,150.00. Following the transaction, the chief technology officer directly owned 7,273,961 shares of the company's stock, valued at $716,703,377.33. This represents a 0.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,033,917 shares of company stock valued at $99,967,419 over the last quarter. Insiders own 11.84% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CRDO shares. Roth Capital lifted their price target on shares of Credo Technology Group from $95.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Susquehanna lifted their price target 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. Wall Street Zen upgraded shares of Credo Technology Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Stifel Nicolaus set a $155.00 price target on shares of Credo Technology Group in a report on Thursday, September 4th. Finally, TD Cowen lifted their price target on shares of Credo Technology Group from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and a consensus target price of $126.27.

Credo Technology Group Price Performance

NASDAQ CRDO traded up $2.67 during mid-day trading on Friday, reaching $161.99. 3,545,961 shares of the stock were exchanged, compared to its average volume of 5,306,212. Credo Technology Group Holding Ltd. has a one year low of $26.96 and a one year high of $168.42. The stock has a 50 day simple moving average of $115.91 and a 200-day simple moving average of $77.11. The stock has a market cap of $28.02 billion, a P/E ratio of 241.78 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its 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 return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million for 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. Credo Technology Group's quarterly 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.

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.