Janney Montgomery Scott LLC Acquires 9,692 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Janney Montgomery Scott LLC has increased its stake in Credo Technology Group by 144.2%, acquiring an additional 9,692 shares, which now makes their total holdings worth approximately $1.52 million.
• Insiders at Credo Technology Group have sold a total of 997,181 shares valued at nearly $131 million in the past three months, including significant sales by the CTO and CFO.
• Equities research analysts have generally rated Credo Technology Group favorably, with a consensus rating of "Buy" and a price target that suggests potential upside.

Janney Montgomery Scott LLC raised its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 144.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,413 shares of the company's stock after purchasing an additional 9,692 shares during the quarter. Janney Montgomery Scott LLC's holdings in Credo Technology Group were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in Credo Technology Group by 850.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company's stock worth $383,000 after purchasing an additional 3,700 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credo Technology Group during the 1st quarter valued at about $27,000. Teacher Retirement System of Texas raised its holdings in shares of Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock valued at $1,405,000 after buying an additional 28,788 shares in the last quarter. Congress Asset Management Co. purchased a new position in shares of Credo Technology Group during the 2nd quarter valued at about $3,509,000. Finally, Triumph Capital Management bought a new position in Credo Technology Group during the 2nd quarter worth approximately $733,000. Institutional investors own 80.46% of the company's stock.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $148.35, for a total transaction of $8,159,250.00. Following the completion of the sale, the chief technology officer owned 6,833,961 shares of the company's stock, valued at approximately $1,013,818,114.35. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daniel W. Fleming sold 112,580 shares of the business's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total value of $15,558,556.00. Following the sale, the chief financial officer directly owned 458,678 shares of the company's stock, valued at $63,389,299.60. This represents a 19.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 997,181 shares of company stock valued at $131,069,480 in the last ninety days. 11.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lifted their price objective on Credo Technology Group from $85.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 8th. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Barclays reiterated an "overweight" rating and set a $165.00 price objective on shares of Credo Technology Group in a research note on Tuesday, October 7th. Finally, Roth Capital reiterated a "buy" rating and set a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $128.55.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $138.83 on Friday. The stock has a fifty day moving average of $136.63 and a 200 day moving average of $91.74. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $176.70. The stock has a market cap of $24.02 billion, a PE ratio of 207.21 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly 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). 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 period in the prior year, the firm posted $0.04 EPS. The business's revenue for the quarter was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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.

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