2,500 Shares in Credo Technology Group Holding Ltd. $CRDO Bought by Flaharty Asset Management LLC

Key Points

• Flaharty Asset Management LLC has acquired 2,500 shares of Credo Technology Group Holding Ltd. valued at approximately $100,000, reflecting a growing interest among institutional investors in the company.
• Credo Technology Group reported earnings per share (EPS) of $0.34 for the latest quarter, falling short of analyst expectations, despite a 273.6% increase in revenue year-over-year.
• Analysts hold a generally optimistic outlook for Credo Technology Group, with multiple firms assigning a “buy” rating and setting target prices significantly above the current market value.

Flaharty Asset Management LLC purchased a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,500 shares of the company's stock, valued at approximately $100,000.

A number of other hedge funds also recently modified their holdings of CRDO. Bank of America Corp DE raised its holdings in shares of Credo Technology Group by 281.7% in the 4th quarter. Bank of America Corp DE now owns 391,446 shares of the company's stock worth $26,309,000 after purchasing an additional 606,850 shares during the period. Cetera Investment Advisers raised its holdings in shares of Credo Technology Group by 45.4% in the 4th quarter. Cetera Investment Advisers now owns 11,956 shares of the company's stock worth $804,000 after purchasing an additional 3,732 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth approximately $211,000. Deutsche Bank AG raised its holdings in shares of Credo Technology Group by 710.9% in the 4th quarter. Deutsche Bank AG now owns 623,332 shares of the company's stock worth $41,894,000 after purchasing an additional 546,466 shares during the period. Finally, Ethic Inc. bought a new stake in shares of Credo Technology Group in the 4th quarter worth approximately $216,000. Institutional investors own 80.46% of the company's stock.

Insider Activity

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $98.53, for a total transaction of $5,419,150.00. Following the completion of the transaction, the chief technology officer directly owned 7,273,961 shares in the company, valued at $716,703,377.33. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Joseph Brennan sold 150,000 shares of the business's 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 transaction, the chief executive officer owned 2,061,978 shares of the company's stock, valued at $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,033,917 shares of company stock worth $99,967,419 in the last three months. Corporate insiders own 11.84% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRDO. Mizuho lifted their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Needham & Company LLC lifted their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Stifel Nicolaus set a $155.00 price objective on shares of Credo Technology Group in a research note on Thursday, September 4th. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Finally, Noble Financial upgraded shares of Credo Technology Group to a "strong-buy" rating in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $126.27.

Credo Technology Group Trading Up 1.7%

Shares of CRDO traded up $2.67 during mid-day trading on Friday, reaching $161.99. 3,545,961 shares of the stock traded hands, compared to its average volume of 5,306,212. The firm has a fifty day moving average price of $115.91 and a 200 day moving average price of $77.11. The company has a market cap of $28.02 billion, a price-to-earnings ratio of 241.78 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 1 year low of $26.96 and a 1 year high of $168.42.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The firm had revenue of $223.07 million for the quarter, compared to analysts' expectations of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm's revenue for the quarter was up 273.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, 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.