Kercheville Advisors LLC Makes New Investment in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Kercheville Advisors LLC invested $1.49 million in Credo Technology Group during the second quarter by purchasing 16,075 shares.
• Insider transactions revealed significant stock sales, including Director Lip Bu Tan selling 20,000 shares for over $3.5 million, reducing their stake by 4.52%.
• Credo Technology reported a revenue increase of 273.6% year-over-year, although it missed earnings expectations with an EPS of $0.34 compared to the consensus estimate of $0.36.

Kercheville Advisors LLC purchased a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,075 shares of the company's stock, valued at approximately $1,488,000.

A number of other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC boosted its stake in Credo Technology Group by 32.4% during the second quarter. Signaturefd LLC now owns 703 shares of the company's stock worth $65,000 after buying an additional 172 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Credo Technology Group by 21.5% during the first quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock valued at $56,000 after acquiring an additional 245 shares during the period. Operose Advisors LLC lifted its holdings in shares of Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company's stock valued at $25,000 after acquiring an additional 252 shares during the period. QTR Family Wealth LLC lifted its holdings in shares of Credo Technology Group by 3.9% during the second quarter. QTR Family Wealth LLC now owns 7,415 shares of the company's stock valued at $687,000 after acquiring an additional 280 shares during the period. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Credo Technology Group by 200.0% during the second quarter. Wolff Wiese Magana LLC now owns 450 shares of the company's stock valued at $42,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Buying and Selling at Credo Technology Group

In related news, Director Lip Bu Tan sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $175.12, for a total transaction of $3,502,400.00. Following the completion of the sale, the director directly owned 422,180 shares of the company's stock, valued at approximately $73,932,161.60. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Laufman sold 10,000 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. Following the sale, the insider directly owned 232,284 shares of the company's stock, valued at approximately $32,519,760. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 878,915 shares of company stock worth $111,449,895 in the last quarter. Company insiders own 11.84% of the company's stock.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $143.87 on Friday. The stock has a market cap of $24.89 billion, a PE ratio of 214.73 and a beta of 2.60. The stock has a 50-day moving average of $133.21 and a 200-day moving average of $88.37. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $176.70.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The company had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business's revenue was up 273.6% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays lifted their price objective on Credo Technology Group from $85.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. TD Cowen assumed coverage on Credo Technology Group in a report on Wednesday. They set a "buy" rating and a $170.00 price objective for the company. Mizuho lifted their price objective on Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. William Blair began coverage on Credo Technology Group in a report on Thursday, September 18th. They set an "outperform" rating for the company. Finally, Needham & Company LLC lifted their price target on Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group currently has an average rating of "Buy" and a consensus price target of $128.55.

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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