Fox Run Management L.L.C. Grows Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Fox Run Management L.L.C. increased its stake in Credo Technology Group by 342.4%, acquiring an additional 13,341 shares during the first quarter.
• Credo Technology Group reported a 179.6% increase in revenue year-over-year, reaching $170 million for the quarter.
• Insider selling occurred, with CEO William Joseph Brennan selling 46,444 shares worth approximately $4.96 million, reducing his ownership by 10.56%.

Fox Run Management L.L.C. increased its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 342.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 17,237 shares of the company's stock after buying an additional 13,341 shares during the quarter. Fox Run Management L.L.C.'s holdings in Credo Technology Group were worth $692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC lifted its holdings 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 buying an additional 245 shares during the period. Operose Advisors LLC grew its holdings in shares of Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after acquiring an additional 252 shares during the period. Calamos Advisors LLC increased its position in Credo Technology Group by 3.1% during the first quarter. Calamos Advisors LLC now owns 17,369 shares of the company's stock valued at $698,000 after acquiring an additional 529 shares during the last quarter. KBC Group NV lifted its holdings in Credo Technology Group by 11.7% in the first quarter. KBC Group NV now owns 6,324 shares of the company's stock valued at $254,000 after acquiring an additional 663 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Credo Technology Group in the first quarter valued at about $27,000. Institutional investors own 80.46% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on CRDO. Susquehanna boosted their price target on Credo Technology Group from $90.00 to $115.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Roth Capital set a $95.00 price objective on shares of Credo Technology Group and gave the stock a "buy" rating in a report on Friday, June 13th. Barclays set a $85.00 target price on shares of Credo Technology Group and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research note on Tuesday, June 3rd. Finally, Needham & Company LLC boosted their price objective on shares of Credo Technology Group from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. Based on data from MarketBeat.com, Credo Technology Group presently has a consensus rating of "Buy" and an average price target of $91.27.

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 2,061,978 shares in the company, valued at $220,363,588.86. This represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 59,641 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $74.96, for a total value of $4,470,689.36. Following the sale, the chief technology officer owned 7,603,961 shares in the company, valued at $569,992,916.56. The trade was a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,274,583 shares of company stock worth $113,118,257 over the last 90 days. Corporate insiders own 16.04% of the company's stock.

Credo Technology Group Trading Up 3.1%

Shares of CRDO traded up $3.48 during trading hours on Friday, reaching $114.34. 2,465,596 shares of the stock traded hands, compared to its average volume of 5,180,393. The company has a market cap of $19.63 billion, a P/E ratio of 423.48, a price-to-earnings-growth ratio of 1.90 and a beta of 2.59. The company's 50-day moving average price is $100.83 and its two-hundred day moving average price is $70.06. Credo Technology Group Holding Ltd. has a 52-week low of $24.08 and a 52-week high of $128.56.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Monday, June 2nd. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%.The firm had revenue of $170.00 million during the quarter, compared to analyst estimates of $159.59 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The business's quarterly revenue was up 179.6% compared to the same quarter last year. Credo Technology Group has set its Q1 2026 guidance at EPS. On average, research analysts forecast 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.