Credo Technology Group Holding Ltd. $CRDO Stake Decreased by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Credo Technology Group by 19.1%, holding 35,454 shares valued at approximately $3.28 million after selling 8,348 shares in the second quarter.
• Several analysts have given Credo Technology Group positive ratings, with price targets ranging from $140.00 to $165.00, indicating a consensus average price target of $126.27.
• Insider transactions revealed significant sales, with CEO William Joseph Brennan offloading 150,000 shares for about $16.03 million, leading to a 6.78% decrease in his ownership of the stock.

Harbor Capital Advisors Inc. trimmed its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 19.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,454 shares of the company's stock after selling 8,348 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Credo Technology Group were worth $3,283,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Credo Technology Group by 21.5% during the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock worth $56,000 after acquiring an additional 245 shares during the period. Operose Advisors LLC raised its stake in shares of Credo Technology Group by 69.2% during 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 in the last quarter. Calamos Advisors LLC lifted its holdings in Credo Technology Group by 3.1% in the first quarter. Calamos Advisors LLC now owns 17,369 shares of the company's stock worth $698,000 after purchasing an additional 529 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Credo Technology Group in the 1st quarter valued at about $25,000. Finally, KBC Group NV increased its stake in Credo Technology Group by 11.7% during the 1st quarter. KBC Group NV now owns 6,324 shares of the company's stock valued at $254,000 after buying an additional 663 shares during the period. Institutional investors own 80.46% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Credo Technology Group from $140.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Susquehanna increased their price target 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. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 8th. Stifel Nicolaus set a $155.00 price objective on Credo Technology Group in a report on Thursday, September 4th. Finally, Barclays raised their target price on Credo Technology Group from $85.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $126.27.

Insider Transactions at Credo Technology Group

In related news, CEO William Joseph Brennan sold 150,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the completion of the sale, the chief executive officer directly owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. This trade represents a 6.78% 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, Director Lip Bu Tan sold 80,000 shares of Credo Technology Group stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $90.77, for a total value of $7,261,600.00. Following the sale, the director directly owned 479,428 shares of the company's stock, valued at approximately $43,517,679.56. The trade was a 14.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 753,147 shares of company stock valued at $77,587,147. 11.84% of the stock is owned by insiders.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $164.42 on Wednesday. The stock has a market cap of $28.44 billion, a PE ratio of 245.40 and a beta of 2.59. Credo Technology Group Holding Ltd. has a fifty-two week low of $26.96 and a fifty-two week high of $168.42. The stock's 50-day moving average is $118.75 and its two-hundred day moving average is $78.64.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted 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). The company had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The business's revenue for the quarter was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

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.

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