Versor Investments LP Grows Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Versor Investments LP increased its holdings in Credo Technology Group by 519.5% in Q1, owning 19,125 shares valued at approximately $768,000.
• Credo Technology's stock has shown impressive growth with a 179.6% increase in revenue compared to the same quarter last year, reporting $170 million in revenue.
• The company received positive ratings from analysts, with a consensus "Buy" rating and price targets ranging from $85 to $135.

Versor Investments LP grew its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 519.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,125 shares of the company's stock after purchasing an additional 16,038 shares during the quarter. Versor Investments LP's holdings in Credo Technology Group were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CRDO. Operose Advisors LLC raised its stake in 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 buying an additional 252 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credo Technology Group in the first quarter valued at about $27,000. Harbour Investments Inc. purchased a new stake in Credo Technology Group in the first quarter valued at about $29,000. Optimum Investment Advisors purchased a new stake in Credo Technology Group in the first quarter valued at about $52,000. Finally, Larson Financial Group LLC raised its stake in Credo Technology Group by 21.5% in the first quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock valued at $56,000 after buying an additional 245 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group 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 completion of the transaction, the director owned 613,725 shares of the company's stock, valued at approximately $47,809,177.50. The trade was a 21.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Joseph Brennan sold 150,000 shares of Credo Technology Group stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the completion of 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. Over the last quarter, insiders sold 1,274,583 shares of company stock valued at $113,118,257. Corporate insiders own 16.04% of the company's stock.

Credo Technology Group Stock Performance

Shares of Credo Technology Group stock traded up $3.18 during trading on Friday, hitting $114.04. 4,811,275 shares of the company's stock were exchanged, compared to its average volume of 3,977,071. The business has a 50-day simple moving average of $101.64 and a 200-day simple moving average of $70.32. Credo Technology Group Holding Ltd. has a 52-week low of $24.08 and a 52-week high of $128.56. The stock has a market capitalization of $19.57 billion, a price-to-earnings ratio of 422.37, a PEG ratio of 1.99 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, June 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Credo Technology Group had a net margin of 11.95% and a return on equity of 8.77%. The firm had revenue of $170.00 million during the quarter, compared to analysts' expectations of $159.59 million. During the same quarter last year, the company posted $0.07 earnings per share. The firm's revenue was up 179.6% compared to the same quarter last year. Credo Technology Group has set its Q1 2026 guidance at EPS. On average, equities 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

A number of research firms have issued reports on CRDO. Barclays set a $85.00 price target on shares of Credo Technology Group and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Mizuho raised their price target on shares of Credo Technology Group from $112.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Stifel Nicolaus raised their price target on shares of Credo Technology Group from $80.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Noble Financial raised shares of Credo Technology Group to a "strong-buy" rating in a report on Tuesday, June 3rd. Finally, Susquehanna raised their price target on shares of Credo Technology Group from $90.00 to $115.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $91.27.

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.