Graham Capital Management L.P. Buys New Shares in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Graham Capital Management L.P. acquired a new stake in Credo Technology Group Holding Ltd., purchasing 49,479 shares valued at approximately $1,987,000 in the 1st quarter.
• Several institutional investors, including Ameriprise Financial and Polar Capital Holdings, substantially increased their holdings in Credo during the 4th quarter, showcasing significant investment interest.
• Analysts are optimistic about Credo's future, with target prices ranging from $85.00 to $135.00 and an overall average rating of "Buy" for the stock.

Graham Capital Management L.P. purchased a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 49,479 shares of the company's stock, valued at approximately $1,987,000.

Several other large investors have also recently made changes to their positions in the stock. Larson Financial Group LLC raised its position in shares of Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock worth $56,000 after acquiring an additional 245 shares in the last quarter. Operose Advisors LLC grew its stake in Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after buying an additional 252 shares during the last quarter. Calamos Advisors LLC grew its stake in Credo Technology Group by 3.1% during the 1st quarter. Calamos Advisors LLC now owns 17,369 shares of the company's stock worth $698,000 after buying an additional 529 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Credo Technology Group during the 1st quarter worth $25,000. Finally, KBC Group NV grew its stake in Credo Technology Group by 11.7% during the 1st quarter. KBC Group NV now owns 6,324 shares of the company's stock worth $254,000 after buying an additional 663 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Insider Transactions at Credo Technology Group

In other news, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Friday, August 1st. The stock was sold at an average price of $107.00, for a total value of $200,625.00. Following the completion of the sale, the director directly owned 5,898,652 shares of the company's stock, valued at approximately $631,155,764. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William Joseph Brennan sold 46,444 shares of Credo Technology Group stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $4,963,470.28. Following the completion of the sale, the chief executive officer directly owned 393,338 shares of the company's stock, valued at $42,036,032.06. The trade was a 10.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,123,654 shares of company stock valued at $101,794,933. Corporate insiders own 11.84% of the company's stock.

Credo Technology Group Trading Up 5.1%

CRDO stock traded up $6.82 during midday trading on Friday, hitting $140.82. 7,238,133 shares of the company's stock were exchanged, compared to its average volume of 4,568,229. The business has a 50-day simple moving average of $109.39 and a two-hundred day simple moving average of $73.87. The stock has a market capitalization of $24.36 billion, a PE ratio of 210.18, a P/E/G ratio of 2.40 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 1-year low of $24.08 and a 1-year high of $142.57.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its 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). The business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 20.24% and a net margin of 20.85%.Credo Technology Group's revenue was up 273.6% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRDO. Susquehanna boosted their target price on Credo Technology Group from $115.00 to $165.00 and gave the stock a "positive" rating in a research note on Thursday. Stifel Nicolaus set a $155.00 price target on Credo Technology Group in a research report on Thursday. Noble Financial upgraded Credo Technology Group to a "strong-buy" rating in a research report on Tuesday, June 3rd. TD Cowen raised their target price on Credo Technology Group from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Roth Capital increased their price target on Credo Technology Group from $95.00 to $160.00 and gave the company a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $126.27.

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.