Credo Technology Group Holding Ltd. $CRDO Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE reduced its stake in Credo Technology Group by 66% by selling 163,446 shares, leaving them with 84,360 shares worth approximately $3.39 million.
• Several institutional investors increased their stakes in Credo Technology Group, with Operose Advisors LLC buying an additional 252 shares, increasing their stake by 69.2% during the same quarter.
• Analysts have a generally positive outlook on Credo Technology Group, with price targets ranging from $85.00 to $115.00, and the stock currently has an average rating of "Buy".

Axiom Investors LLC DE lessened its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 66.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,360 shares of the company's stock after selling 163,446 shares during the quarter. Axiom Investors LLC DE's holdings in Credo Technology Group were worth $3,388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Jump Financial LLC lifted its holdings in shares of Credo Technology Group by 213.4% in the 1st quarter. Jump Financial LLC now owns 820,742 shares of the company's stock valued at $32,961,000 after buying an additional 558,879 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Credo Technology Group in the 1st quarter valued at about $25,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Credo Technology Group by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,027,989 shares of the company's stock valued at $41,285,000 after buying an additional 52,054 shares during the period. Candriam S.C.A. acquired a new position in shares of Credo Technology Group in the 1st quarter valued at about $29,258,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Credo Technology Group by 74.6% in the 1st quarter. Quantbot Technologies LP now owns 152,715 shares of the company's stock valued at $6,133,000 after buying an additional 65,263 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Buying and Selling

In other news, CTO Chi Fung Cheng sold 55,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $107.12, for a total value of $5,891,600.00. Following the completion of the sale, the chief technology officer directly owned 7,108,961 shares in the company, valued at $761,511,902.32. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pantas Sutardja sold 1,875 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $107.00, for a total value of $200,625.00. Following the completion of the transaction, the director owned 5,898,652 shares in the company, valued at $631,155,764. This represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,274,583 shares of company stock valued at $113,118,257 over the last ninety days. 16.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRDO shares. Susquehanna lifted their price target on Credo Technology Group from $90.00 to $115.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Mizuho lifted their price target on Credo Technology Group from $112.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Roth Capital set a $95.00 price target on Credo Technology Group and gave the company a "buy" rating in a research note on Friday, June 13th. Barclays set a $85.00 price target on Credo Technology Group and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Finally, Noble Financial upgraded Credo Technology Group to a "strong-buy" rating in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $91.27.

Credo Technology Group Trading Up 7.4%

NASDAQ:CRDO traded up $9.09 during trading hours on Thursday, hitting $131.82. 4,875,128 shares of the stock were exchanged, compared to its average volume of 5,155,244. Credo Technology Group Holding Ltd. has a 52-week low of $24.08 and a 52-week high of $134.35. The firm's fifty day moving average price is $103.92 and its 200 day moving average price is $71.16. The company has a market cap of $22.80 billion, a P/E ratio of 488.22, a P/E/G ratio of 2.16 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Monday, June 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $170.00 million during the quarter, compared to analyst estimates of $159.59 million. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%.The business's revenue was up 179.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. Credo Technology Group has set its Q1 2026 guidance at EPS. Equities analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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.