Callan Family Office LLC Invests $428,000 in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Callan Family Office LLC invested approximately $428,000 in Credo Technology Group, acquiring 4,623 shares in the second quarter.
• Analysts are optimistic about Credo Technology Group, with multiple price targets surpassing $155.00 and a consensus rating of Buy.
• Insider transactions revealed significant stock sales, including Director Lip Bu Tan selling 20,000 shares for over $3.5 million at an average price of $175.12.

Callan Family Office LLC acquired a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,623 shares of the company's stock, valued at approximately $428,000.

Other hedge funds also recently made changes to their positions in the company. Realta Investment Advisors bought a new stake in shares of Credo Technology Group during the 2nd quarter worth $300,000. Janney Montgomery Scott LLC lifted its holdings in shares of Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock worth $270,000 after acquiring an additional 1,467 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Credo Technology Group by 850.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company's stock worth $383,000 after acquiring an additional 3,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Credo Technology Group during the 1st quarter worth $27,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock worth $1,405,000 after acquiring an additional 28,788 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Mizuho boosted their price target 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. Barclays reissued an "overweight" rating and issued a $165.00 price target on shares of Credo Technology Group in a research note on Tuesday, October 7th. Zacks Research raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 8th. Roth Capital reissued a "buy" rating and issued a $170.00 price target on shares of Credo Technology Group in a research note on Tuesday, September 30th. Finally, Stifel Nicolaus set a $160.00 price target on shares of Credo Technology Group in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $128.55.

Credo Technology Group Trading Down 13.4%

CRDO stock opened at $129.75 on Wednesday. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $176.70. The firm's 50-day moving average price is $137.72 and its two-hundred day moving average price is $93.11. The stock has a market capitalization of $22.45 billion, a price-to-earnings ratio of 193.66 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results 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). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The company had revenue of $223.07 million for the quarter, compared to analysts' expectations of $190.63 million. During the same quarter in the prior year, the firm earned $0.04 EPS. Credo Technology Group's quarterly revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other Credo Technology Group news, Director Lip Bu Tan sold 20,000 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $175.12, for a total value of $3,502,400.00. Following the sale, the director owned 422,180 shares in the company, valued at approximately $73,932,161.60. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Joseph Brennan sold 9,476 shares of the company'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 completion of the sale, the chief executive officer owned 347,399 shares in the company, valued at approximately $48,656,703.94. This trade represents a 2.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 942,181 shares of company stock valued at $125,650,330. Insiders own 11.84% of the company's stock.

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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