GK Wealth Management LLC Has $786,000 Holdings in Credo Technology Group Holding Ltd. $CRDO

GK Wealth Management LLC trimmed its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 25.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,492 shares of the company's stock after selling 2,960 shares during the quarter. GK Wealth Management LLC's holdings in Credo Technology Group were worth $786,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRDO. Nuveen LLC bought a new stake in Credo Technology Group during the 1st quarter valued at $52,636,000. Swedbank AB increased its position in shares of Credo Technology Group by 29.5% during the first quarter. Swedbank AB now owns 3,219,125 shares of the company's stock worth $129,280,000 after acquiring an additional 733,811 shares in the last quarter. Candriam S.C.A. acquired a new stake in shares of Credo Technology Group in the 1st quarter worth about $29,258,000. Bank of America Corp DE lifted its position in 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 valued at $26,309,000 after acquiring an additional 606,850 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Credo Technology Group during the 1st quarter valued at about $24,329,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Activity

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the completion of the transaction, the chief technology officer directly owned 7,328,961 shares of the company's stock, valued at approximately $673,824,674.34. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $16,030,500.00. Following the completion of the sale, the chief executive officer owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 807,444 shares of company stock valued at $82,277,322 in the last three months. Company insiders own 11.84% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CRDO. Roth Capital increased their price objective on Credo Technology Group from $95.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Mizuho upped their price target on Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Noble Financial upgraded Credo Technology Group to a "strong-buy" rating in a research note on Tuesday, June 3rd. Stifel Nicolaus set a $155.00 price objective on shares of Credo Technology Group in a report on Thursday, September 4th. Finally, Zacks Research upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company's stock. According to MarketBeat.com, Credo Technology Group currently has an average rating of "Buy" and a consensus price target of $126.27.

Credo Technology Group Trading Up 1.7%

CRDO stock opened at $161.99 on Monday. The stock has a market cap of $28.02 billion, a P/E ratio of 241.78 and a beta of 2.59. The stock's fifty day simple moving average is $115.91 and its two-hundred day simple moving average is $77.28. 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 posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. During the same quarter in the previous year, the company posted $0.04 EPS. Credo Technology Group's quarterly revenue 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, analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Credo Technology Group Company 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.

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