Credo Technology Group Holding Ltd. $CRDO Shares Sold by Oak Ridge Investments LLC

Key Points

• Oak Ridge Investments LLC reduced its stake in Credo Technology Group by 3.7% in the second quarter, now holding shares valued at approximately $4.92 million.
• Credo Technology Group reported $223.07 million in revenue for the last quarter, exceeding analysts’ expectations and marking a 273.6% increase year-over-year.
• Insider selling occurred with CEO William Joseph Brennan offloading 9,476 shares for over $1.3 million, and COO Yat Tung Lam selling 80,000 shares valued at around $11.48 million.

Oak Ridge Investments LLC trimmed its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,157 shares of the company's stock after selling 2,048 shares during the period. Oak Ridge Investments LLC's holdings in Credo Technology Group were worth $4,922,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CRDO. Blue Trust Inc. lifted its position in shares of Credo Technology Group by 3.9% during the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company's stock valued at $380,000 after acquiring an additional 154 shares during the last quarter. Signaturefd LLC lifted its position in shares of Credo Technology Group by 32.4% during the 2nd quarter. Signaturefd LLC now owns 703 shares of the company's stock valued at $65,000 after acquiring an additional 172 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Credo Technology Group by 21.5% during the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock valued at $56,000 after acquiring an additional 245 shares during the last quarter. Operose Advisors LLC lifted its position in shares of Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company's stock valued at $25,000 after acquiring an additional 252 shares during the last quarter. Finally, QTR Family Wealth LLC lifted its position in shares of Credo Technology Group by 3.9% during the 2nd quarter. QTR Family Wealth LLC now owns 7,415 shares of the company's stock valued at $687,000 after acquiring an additional 280 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Trading Down 8.2%

Shares of NASDAQ:CRDO opened at $138.83 on Friday. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $176.70. The business has a fifty day simple moving average of $136.63 and a 200 day simple moving average of $91.74. The firm has a market cap of $24.02 billion, a price-to-earnings ratio of 207.21 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (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 firm had revenue of $223.07 million for the quarter, compared to analysts' expectations of $190.63 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. Credo Technology Group's revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRDO shares. Wall Street Zen upgraded Credo Technology Group from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Weiss Ratings restated a "hold (c)" rating on shares of Credo Technology Group in a report on Wednesday. Barclays restated an "overweight" rating and issued a $165.00 target price on shares of Credo Technology Group in a report on Tuesday, October 7th. Cowen restated a "buy" rating on shares of Credo Technology Group in a report on Thursday, September 4th. Finally, Susquehanna increased their target price on Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $128.55.

Insider Buying and Selling at Credo Technology Group

In related news, CEO William Joseph Brennan sold 9,476 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $140.06, for a total transaction of $1,327,208.56. Following the completion of the sale, the chief executive officer directly owned 347,399 shares in the company, valued at approximately $48,656,703.94. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Yat Tung Lam sold 80,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the sale, the chief operating officer owned 920,000 shares of the company's stock, valued at approximately $132,047,600. This represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 997,181 shares of company stock valued at $131,069,480 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.

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