Credo Technology Group Holding Ltd. $CRDO Shares Purchased by Freedom Investment Management Inc.

Key Points

• Freedom Investment Management Inc. increased its stake in Credo Technology Group by 50.9% during the first quarter, acquiring 3,964 additional shares and bringing its total holdings to 11,759 shares worth approximately $472,000.
• Credo Technology Group reported robust quarterly earnings with an EPS of $0.35 exceeding estimates, alongside a 179.6% year-over-year revenue growth of $170 million.
• Several research firms have issued new price targets for Credo Technology Group, with Stifel Nicolaus raising its target from $80.00 to $115.00 and maintaining a "buy" rating on the stock.

Freedom Investment Management Inc. lifted its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 50.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,759 shares of the company's stock after purchasing an additional 3,964 shares during the quarter. Freedom Investment Management Inc.'s holdings in Credo Technology Group were worth $472,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC grew its position in Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after buying an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $27,000. Harbour Investments Inc. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in shares of Credo Technology Group in the 4th quarter worth approximately $58,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRDO. Mizuho upped their target price on Credo Technology Group from $112.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Wall Street Zen cut shares of Credo Technology Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 24th. Barclays set a $85.00 price objective on Credo Technology Group and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Noble Financial raised shares of Credo Technology Group to a "strong-buy" rating in a research report on Tuesday, June 3rd. Finally, Susquehanna lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, Credo Technology Group currently has a consensus rating of "Buy" and a consensus target price of $91.27.

Credo Technology Group Stock Down 6.6%

Shares of NASDAQ CRDO traded down $8.76 during trading on Friday, reaching $123.06. 4,960,246 shares of the stock were exchanged, compared to its average volume of 3,840,437. The business's 50-day moving average price is $105.59 and its 200 day moving average price is $71.88. Credo Technology Group Holding Ltd. has a twelve month low of $24.08 and a twelve month high of $134.35. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 455.78, a price-to-earnings-growth ratio of 2.21 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings data on Monday, June 2nd. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. Credo Technology Group had a net margin of 11.95% and a return on equity of 8.77%. The firm had revenue of $170.00 million for the quarter, compared to analyst estimates of $159.59 million. During the same quarter in the previous year, the business posted $0.07 EPS. The firm's revenue was up 179.6% compared to the same quarter last year. Credo Technology Group has set its Q1 2026 guidance at EPS. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lip Bu Tan sold 171,473 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $77.90, for a total value of $13,357,746.70. Following the sale, the director directly owned 613,725 shares of the company's stock, valued at $47,809,177.50. This represents a 21.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Joseph Brennan sold 150,000 shares of the company'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 completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,274,583 shares of company stock worth $113,118,257. 16.04% of the stock is currently owned by corporate insiders.

Credo Technology Group 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.