Credo Technology Group Holding Ltd. $CRDO Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Credo Technology Group by 5.9%, owning 84,461 shares valued at $3.39 million as of the latest SEC filing.
• Several analysts have raised their price targets for Credo Technology Group, with Roth Capital projecting a target of $160.00 and Barclays setting a target of $165.00, contributing to a consensus rating of "Buy."
• Insiders have sold over 1 million shares of Credo Technology Group stock in recent months, indicating significant trading activity among company executives.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,461 shares of the company's stock after acquiring an additional 4,735 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Credo Technology Group were worth $3,392,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Operose Advisors LLC boosted its stake in shares of Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company's stock valued at $25,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Credo Technology Group in the first quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credo Technology Group in the first quarter valued at approximately $27,000. Harbour Investments Inc. purchased a new position in shares of Credo Technology Group in the first quarter valued at approximately $29,000. Finally, Virtus Advisers LLC purchased a new position in shares of Credo Technology Group in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CRDO shares. Susquehanna raised their price objective on shares of Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a research note on Thursday, September 4th. Needham & Company LLC raised their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Wall Street Zen upgraded shares of Credo Technology Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Noble Financial upgraded shares of Credo Technology Group to a "strong-buy" rating in a research note on Tuesday, June 3rd. Finally, Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $126.27.

Insider Activity

In other 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 value of $13,357,746.70. Following the transaction, the director directly owned 613,725 shares of the company's stock, valued at $47,809,177.50. The trade was a 21.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Monday, July 14th. The shares were sold at an average price of $98.53, for a total transaction of $5,419,150.00. Following the completion of the transaction, the chief technology officer directly owned 7,273,961 shares in the company, valued at $716,703,377.33. The trade was a 0.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,033,917 shares of company stock valued at $99,967,419 in the last ninety days. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO traded up $2.67 during trading on Friday, hitting $161.99. 3,545,961 shares of the company were exchanged, compared to its average volume of 5,306,212. The stock has a market capitalization of $28.02 billion, a P/E ratio of 241.78 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 12-month low of $26.96 and a 12-month high of $168.42. The firm's 50 day moving average price is $115.91 and its 200-day moving average price is $77.11.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $223.07 million for the quarter, compared to analysts' expectations of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm's quarterly revenue was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Credo Technology Group 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.