Credo Technology Group Holding Ltd. $CRDO Shares Purchased by WCM Investment Management LLC

Key Points

• WCM Investment Management LLC increased its stake in Credo Technology Group by 7.1%, now holding 164,059 shares valued at approximately $15.34 million.
• Credo Technology Group's latest earnings report showed a net revenue of $223.07 million, significantly exceeding estimates and reflecting a 273.6% year-over-year increase.
• Insiders have sold over 1 million shares of the company in recent months, with the CTO and CFO notably decreasing their positions by 0.77% and 19.71%, respectively.

WCM Investment Management LLC boosted its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,059 shares of the company's stock after purchasing an additional 10,893 shares during the period. WCM Investment Management LLC owned approximately 0.10% of Credo Technology Group worth $15,338,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Realta Investment Advisors acquired a new stake in Credo Technology Group in the 2nd quarter valued at $300,000. Janney Montgomery Scott LLC grew its stake in shares of Credo Technology Group by 27.9% during the first quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock valued at $270,000 after acquiring an additional 1,467 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Credo Technology Group by 850.6% during the second quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company's stock valued at $383,000 after acquiring an additional 3,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group during the first quarter valued at about $27,000. Finally, Teacher Retirement System of Texas grew its stake in shares of Credo Technology Group by 464.4% during the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock valued at $1,405,000 after acquiring an additional 28,788 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $136.53 on Friday. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $176.70. The company's 50-day simple moving average is $138.34 and its 200-day simple moving average is $94.04. The stock has a market capitalization of $23.62 billion, a price-to-earnings ratio of 203.78 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly 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 return on equity of 19.02% and a net margin of 20.85%.The company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. During the same period in the previous year, the business posted $0.04 EPS. The business'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. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $107.12, for a total value of $5,891,600.00. Following the transaction, the chief technology officer owned 7,108,961 shares of the company's stock, valued at $761,511,902.32. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniel W. Fleming sold 112,580 shares of the firm's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the completion of the transaction, the chief financial officer directly owned 458,678 shares in the company, valued at $63,389,299.60. This represents a 19.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,006,589 shares of company stock worth $135,192,863. Insiders own 11.84% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CRDO shares. William Blair started coverage on Credo Technology Group in a research note on Thursday, September 18th. They set an "outperform" rating for the company. Susquehanna raised their target price on Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a research note on Thursday, September 4th. Roth Capital restated a "buy" rating and set a $170.00 target price on shares of Credo Technology Group in a research note on Tuesday, September 30th. Zacks Research raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. Finally, TD Cowen assumed coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They set a "buy" rating and a $170.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and an average price target of $128.55.

About Credo Technology Group

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.

Want to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.