Axiom Investors LLC DE Has $3.39 Million Stock Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Axiom Investors LLC DE has reduced its holdings in Credo Technology Group by 66.0%, now owning 84,360 shares valued at approximately $3.39 million.
• Credo Technology Group's stock has seen a 5.1% increase recently, with a market capitalization of $24.36 billion and a current price of $140.82, close to its 12-month high.
• Despite missing earnings estimates with $0.34 EPS, the company reported a significant year-over-year revenue increase of 273.6%, totaling $223.07 million for the latest quarter.

Axiom Investors LLC DE decreased its position 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 and Exchange Commission. The fund owned 84,360 shares of the company's stock after selling 163,446 shares during the period. 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 recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock worth $56,000 after purchasing an additional 245 shares during the last quarter. Operose Advisors LLC grew its position in Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after purchasing an additional 252 shares during the last quarter. Calamos Advisors LLC grew its position in Credo Technology Group by 3.1% in the 1st quarter. Calamos Advisors LLC now owns 17,369 shares of the company's stock worth $698,000 after purchasing an additional 529 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Credo Technology Group in the 1st quarter worth about $25,000. Finally, KBC Group NV grew its position in Credo Technology Group by 11.7% in the 1st quarter. KBC Group NV now owns 6,324 shares of the company's stock worth $254,000 after purchasing an additional 663 shares during the last quarter. Institutional investors own 80.46% of the company's stock.

Credo Technology Group Trading Up 1.7%

CRDO stock traded up $2.67 on Friday, hitting $161.99. 3,543,947 shares of the company's stock traded hands, compared to its average volume of 5,264,198. Credo Technology Group Holding Ltd. has a 1-year low of $26.96 and a 1-year high of $168.42. The stock has a market cap of $28.02 billion, a price-to-earnings ratio of 241.78 and a beta of 2.59. The stock has a fifty day moving average of $114.53 and a 200-day moving average of $76.28.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its earnings results on Wednesday, September 3rd. The company reported $0.34 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 business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same period in the prior year, the company earned $0.04 earnings per share. The firm'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. On average, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRDO shares. Roth Capital increased their price objective on shares of Credo Technology Group from $95.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a report on Thursday, September 4th. TD Cowen increased their price objective on shares of Credo Technology Group from $140.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Noble Financial upgraded shares of Credo Technology Group to a "strong-buy" rating in a report on Tuesday, June 3rd. Finally, Susquehanna increased their price objective on shares of Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $126.27.

Insiders Place Their Bets

In related news, CEO William Joseph Brennan sold 46,444 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $4,963,470.28. Following the completion of the sale, the chief executive officer owned 393,338 shares in the company, valued at approximately $42,036,032.06. This represents a 10.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel W. Fleming sold 3,790 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $137.55, for a total transaction of $521,314.50. Following the completion of the sale, the chief financial officer owned 576,178 shares of the company's stock, valued at approximately $79,253,283.90. This trade represents a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,033,917 shares of company stock worth $99,967,419 in the last quarter. Corporate 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.