JAT Capital Mgmt LP Buys Shares of 10,699 Credo Technology Group Holding Ltd. $CRDO

Key Points

• JAT Capital Mgmt LP purchased 10,699 shares of Credo Technology Group valued at approximately $430,000, making it the firm's 18th largest position in their investment portfolio.
• Credo Technology Group reported a quarterly earnings per share (EPS) of $0.35, exceeding analyst estimates of $0.27, with year-over-year revenue growth of 179.6%.
• Institutional investors own 80.46% of Credo Technology Group's stock, indicating strong institutional interest in the company.

JAT Capital Mgmt LP acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,699 shares of the company's stock, valued at approximately $430,000. Credo Technology Group makes up about 0.2% of JAT Capital Mgmt LP's holdings, making the stock its 18th largest holding.

A number of other large investors have also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its stake in shares of Credo Technology Group by 49.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,643,560 shares of the company's stock valued at $110,482,000 after buying an additional 543,940 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Credo Technology Group by 55.3% in the fourth quarter. Two Sigma Investments LP now owns 1,515,268 shares of the company's stock valued at $101,841,000 after buying an additional 539,766 shares in the last quarter. Polar Capital Holdings Plc lifted its position in shares of Credo Technology Group by 382.1% during the fourth quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company's stock valued at $97,527,000 after purchasing an additional 1,150,084 shares in the last quarter. Northern Trust Corp lifted its position in shares of Credo Technology Group by 17.8% during the fourth quarter. Northern Trust Corp now owns 1,427,852 shares of the company's stock valued at $95,966,000 after purchasing an additional 215,368 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Credo Technology Group during the first quarter valued at about $52,636,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Price Performance

Shares of CRDO traded up $6.82 during trading hours on Friday, hitting $140.82. The company's stock had a trading volume of 7,238,133 shares, compared to its average volume of 4,568,229. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 210.18, a PEG ratio of 2.40 and a beta of 2.59. The business has a 50 day simple moving average of $109.39 and a two-hundred day simple moving average of $73.87. Credo Technology Group Holding Ltd. has a 52-week low of $24.08 and a 52-week 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 for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $223.07 million during the quarter, compared to analysts' expectations 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 for the quarter was up 273.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Insider Activity

In other news, CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $78.77, for a total value of $4,332,350.00. Following the completion of the transaction, the chief technology officer directly owned 7,493,961 shares in the company, valued at approximately $590,299,307.97. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Joseph Brennan sold 150,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,061,978 shares of the company's stock, valued at $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,123,654 shares of company stock worth $101,794,933. 11.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CRDO shares. TD Cowen raised their price target on shares of Credo Technology Group from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday. Stifel Nicolaus set a $155.00 price target on shares of Credo Technology Group in a research report on Thursday. Cowen reissued a "buy" rating on shares of Credo Technology Group in a research report on Tuesday, June 3rd. Mizuho raised their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Noble Financial upgraded shares of Credo Technology Group to a "strong-buy" rating in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. Based on data from MarketBeat, Credo Technology Group presently has a consensus rating of "Buy" and a consensus target price of $126.27.

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.