Credo Technology Group Holding Ltd. $CRDO Shares Bought by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. increased its stake in Credo Technology Group by 53.4%, now owning 22,047 shares worth approximately $2.04 million.
• Insiders, including COO Yat Tung Lam and CEO William Joseph Brennan, have sold significant amounts of stock recently, indicating a combined decrease in their ownership by 8% and 6.78%, respectively.
• Analysts have set ambitious price targets for Credo Technology Group, with multiple reports suggesting a price goal of $170, reflecting strong confidence in the company's future performance.

Atria Wealth Solutions Inc. boosted its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 53.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 22,047 shares of the company's stock after acquiring an additional 7,677 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Credo Technology Group were worth $2,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC lifted its holdings in shares of Credo Technology Group by 200.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 450 shares of the company's stock valued at $42,000 after buying an additional 300 shares during the period. Operose Advisors LLC lifted its holdings in shares of Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company's stock valued at $25,000 after buying an additional 252 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. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credo Technology Group in the 1st quarter valued at about $27,000. Finally, Signaturefd LLC lifted its holdings in shares of Credo Technology Group by 32.4% in the 2nd quarter. Signaturefd LLC now owns 703 shares of the company's stock valued at $65,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 80,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 $132,047,600. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Joseph Brennan sold 150,000 shares of the 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 $16,030,500.00. Following the transaction, the chief executive officer directly owned 2,061,978 shares of the company's stock, valued at $220,363,588.86. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,006,589 shares of company stock worth $135,192,863 over the last three months. 11.84% of the stock is owned by insiders.

Analysts Set New Price Targets

CRDO has been the subject of several analyst reports. TD Cowen initiated coverage on Credo Technology Group in a report on Wednesday, October 1st. They issued a "buy" rating and a $170.00 price objective for the company. Roth Capital reissued a "buy" rating and issued a $170.00 price objective on shares of Credo Technology Group in a report on Tuesday, September 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Cowen restated a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Finally, Needham & Company LLC lifted their price target on Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $128.55.

Credo Technology Group Stock Up 1.3%

Shares of Credo Technology Group stock opened at $131.41 on Thursday. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $176.70. The business has a 50-day moving average price of $138.00 and a 200 day moving average price of $93.38. The firm 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 earnings results 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 for the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the company earned $0.04 EPS. Credo Technology Group's revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, sell-side analysts expect 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.

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