Dakota Wealth Management Purchases New Shares in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Dakota Wealth Management acquired a new stake in Credo Technology Group, purchasing 5,446 shares valued at approximately $504,000 during the second quarter.
• Insider trading activity included CTO Chi Fung Cheng and CEO William Joseph Brennan selling a combined 205,000 shares for over $21 million, reflecting a decrease in their respective ownership positions.
• Credo Technology Group reported a revenue of $223.07 million in their latest quarter, exceeding expectations and marking a 273.6% increase year-over-year despite a slight miss on earnings per share.

Dakota Wealth Management purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,446 shares of the company's stock, valued at approximately $504,000.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in Credo Technology Group by 27.9% in 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. Mirae Asset Global Investments Co. Ltd. bought a new stake in Credo Technology Group in the first quarter valued at $27,000. Teacher Retirement System of Texas boosted its holdings in shares of Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock valued at $1,405,000 after buying an additional 28,788 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Credo Technology Group during the 2nd quarter valued at $733,000. Finally, Intech Investment Management LLC boosted its holdings in shares of Credo Technology Group by 153.0% during the 1st quarter. Intech Investment Management LLC now owns 120,338 shares of the company's stock valued at $4,833,000 after buying an additional 72,782 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $91.94, for a total value of $5,056,700.00. Following the completion of the transaction, the chief technology officer owned 7,328,961 shares of the company's stock, valued at approximately $673,824,674.34. The trade was a 0.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Joseph Brennan sold 150,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $106.87, for a total value 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 approximately $220,363,588.86. This trade represents a 6.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 743,915 shares of company stock valued at $91,779,645. 11.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CRDO has been the topic of a number of research reports. Cowen restated a "buy" rating on shares of Credo Technology Group in a report on Thursday, September 4th. Zacks Research upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, September 8th. Susquehanna boosted their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a report on Thursday, September 4th. Needham & Company LLC boosted their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Finally, Stifel Nicolaus set a $155.00 target price on shares of Credo Technology Group in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $126.27.

Credo Technology Group Price Performance

CRDO opened at $142.93 on Monday. The stock has a 50-day moving average price of $128.39 and a 200-day moving average price of $85.19. The firm has a market cap of $24.73 billion, a PE ratio of 213.33 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $176.70.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $223.07 million during the quarter, compared to analysts' expectations of $190.63 million. During the same period in the prior year, the firm earned $0.04 EPS. Credo Technology Group's revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS 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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