Jump Financial LLC Raises Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Jump Financial LLC increased its stake in Credo Technology Group by 213.4%, ending up with a total of 820,742 shares valued at approximately $32.96 million.
• The stock is currently favored by institutional investors, with 80.46% of shares owned by this group, indicating strong market confidence.
• Credo Technology Group recently reported a 179.6% increase in revenue year-over-year, with earnings of $0.35 per share surpassing analysts' expectations.

Jump Financial LLC increased its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 213.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 820,742 shares of the company's stock after purchasing an additional 558,879 shares during the period. Credo Technology Group accounts for about 0.5% of Jump Financial LLC's holdings, making the stock its 29th biggest holding. Jump Financial LLC owned approximately 0.48% of Credo Technology Group worth $32,961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRDO. Mariner LLC acquired a new stake in Credo Technology Group during the fourth quarter worth about $314,000. NewEdge Advisors LLC acquired a new stake in Credo Technology Group during the fourth quarter worth about $208,000. Marshall Wace LLP increased its position in shares of Credo Technology Group by 165.5% during the fourth quarter. Marshall Wace LLP now owns 27,077 shares of the company's stock valued at $1,820,000 after acquiring an additional 16,877 shares during the last quarter. First Trust Advisors LP increased its position in shares of Credo Technology Group by 3.6% during the fourth quarter. First Trust Advisors LP now owns 183,870 shares of the company's stock valued at $12,358,000 after acquiring an additional 6,340 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Credo Technology Group by 22.0% during the fourth quarter. Stifel Financial Corp now owns 155,673 shares of the company's stock valued at $10,463,000 after acquiring an additional 28,100 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lip Bu Tan sold 171,473 shares of Credo Technology Group stock in a transaction that occurred 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 completion of the transaction, the director owned 613,725 shares in the company, valued at $47,809,177.50. The trade was a 21.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 59,641 shares of Credo Technology Group stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $74.96, for a total transaction of $4,470,689.36. Following the completion of the transaction, the chief technology officer owned 7,603,961 shares of the company's stock, valued at $569,992,916.56. This represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,274,583 shares of company stock worth $113,118,257 over the last 90 days. 16.04% of the stock is owned by insiders.

Credo Technology Group Price Performance

Shares of CRDO stock traded up $2.63 during trading on Wednesday, reaching $122.73. The company's stock had a trading volume of 3,430,727 shares, compared to its average volume of 5,156,871. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 454.56, a P/E/G ratio of 2.07 and a beta of 2.59. The stock's 50-day moving average price is $103.17 and its 200 day moving average price is $70.80. Credo Technology Group Holding Ltd. has a 1-year low of $24.08 and a 1-year high of $128.56.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, June 2nd. The company reported $0.35 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $159.59 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The business's quarterly revenue was up 179.6% compared to the same quarter last year. Credo Technology Group has set its Q1 2026 guidance at EPS. On average, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of recent analyst reports. TD Cowen lifted their price target on shares of Credo Technology Group from $85.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Mizuho lifted their price target on shares of Credo Technology Group from $112.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Stifel Nicolaus lifted their price target on shares of Credo Technology Group from $80.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Roth Capital set a $95.00 price target on shares of Credo Technology Group and gave the company a "buy" rating in a research report on Friday, June 13th. 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 MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $91.27.

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.