Apollon Wealth Management LLC Invests $742,000 in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Apollon Wealth Management LLC invested $742,000 in Credo Technology Group Holding Ltd. by acquiring 8,017 shares during the 2nd quarter.
• Large investors have shown significant interest in Credo, with 80.46% of the stock owned by institutional investors and hedge funds, while notable deals include Nuveen LLC's acquisition valued at approximately $52.6 million.
• Analyst ratings for Credo Technology Group suggest a positive outlook, with an average rating of "Buy" and price targets exceeding $160 from various brokerages.

Apollon Wealth Management LLC acquired a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,017 shares of the company's stock, valued at approximately $742,000.

Several other large investors have also recently made changes to their positions in CRDO. Nuveen LLC acquired a new position in shares of Credo Technology Group in the 1st quarter worth approximately $52,636,000. Swedbank AB increased its stake in Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company's stock worth $129,280,000 after buying an additional 733,811 shares during the period. Candriam S.C.A. purchased a new stake in Credo Technology Group during the 1st quarter worth approximately $29,258,000. FengHe Fund Management Pte. Ltd. purchased a new stake in Credo Technology Group during the 2nd quarter worth approximately $63,013,000. Finally, Westfield Capital Management Co. LP purchased a new stake in Credo Technology Group during the 1st quarter worth approximately $24,329,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on CRDO. Mizuho upped their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Barclays reaffirmed an "overweight" rating and set a $165.00 target price on shares of Credo Technology Group in a research note on Tuesday, October 7th. Finally, Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $128.55.

Credo Technology Group Trading Up 1.3%

Shares of NASDAQ:CRDO opened at $131.41 on Thursday. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $176.70. The company's 50 day moving average is $138.00 and its two-hundred day moving average is $93.38. The company has a market cap of $22.73 billion, a PE ratio of 196.13 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS 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 firm had revenue of $223.07 million during the quarter, compared to analysts' expectations of $190.63 million. During the same period in the prior year, the company posted $0.04 earnings per share. The company's revenue for the quarter 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 research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Activity at Credo Technology Group

In other news, CEO William Joseph Brennan sold 150,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the transaction, the chief executive officer owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. This represents a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Yat Tung Lam sold 80,000 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the completion of the transaction, the chief operating officer owned 920,000 shares of the company's stock, valued at approximately $132,047,600. The trade was a 8.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,006,589 shares of company stock worth $135,192,863. Corporate insiders own 11.84% of the company's stock.

About Credo Technology Group

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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