Mutual of America Capital Management LLC Sells 2,338 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• Mutual of America Capital Management LLC reduced its stake in Credo Technology Group by 2.4%, selling 2,338 shares and holding approximately 0.05% of the company valued at $8.7 million as of the latest SEC filing.
• Insider selling was notable, with CFO Daniel W. Fleming offloading 112,580 shares for over $15.5 million, while CTO Chi Fung Cheng sold 55,000 shares valued at approximately $8.1 million.
• Analysts are positive on the stock, with several raising price targets; for instance, Susquehanna increased its target from $115 to $165, and the consensus rating is a "Buy" with a target price of $131.58.

Mutual of America Capital Management LLC trimmed its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 94,313 shares of the company's stock after selling 2,338 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of Credo Technology Group worth $8,732,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Swedbank AB boosted its position in Credo Technology Group by 29.5% in the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company's stock valued at $129,280,000 after buying an additional 733,811 shares during the last quarter. Alliancebernstein L.P. boosted its position in Credo Technology Group by 6.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,846,387 shares of the company's stock valued at $74,151,000 after buying an additional 105,405 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Credo Technology Group by 63.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after buying an additional 589,151 shares during the last quarter. Nuveen LLC bought a new position in Credo Technology Group in the 1st quarter valued at $52,636,000. Finally, The Manufacturers Life Insurance Company boosted its position in Credo Technology Group by 74.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,098,369 shares of the company's stock valued at $44,110,000 after buying an additional 468,145 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 112,580 shares of Credo Technology Group stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total value of $15,558,556.00. Following the sale, the chief financial officer owned 458,678 shares of the company's stock, valued at $63,389,299.60. This trade represents a 19.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $148.08, for a total value of $8,144,400.00. Following the completion of the sale, the chief technology officer directly owned 6,778,961 shares in the company, valued at $1,003,828,544.88. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 951,589 shares of company stock worth $129,883,163 in the last three months. 11.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CRDO shares. Susquehanna increased their price target on Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a research note on Thursday, September 4th. William Blair started coverage on Credo Technology Group in a research note on Thursday, September 18th. They issued an "outperform" rating on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. TD Cowen started coverage on Credo Technology Group in a research note on Wednesday, October 1st. They issued a "buy" rating and a $170.00 price target on the stock. Finally, Wall Street Zen raised Credo Technology Group from a "hold" rating to a "buy" rating in a research note on Sunday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Credo Technology Group currently has a consensus rating of "Buy" and a consensus price target of $131.58.

Credo Technology Group Trading Up 5.6%

Shares of Credo Technology Group stock opened at $151.66 on Tuesday. The company has a market capitalization of $26.24 billion, a PE ratio of 226.36 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70. The stock's fifty day simple moving average is $139.46 and its 200 day simple moving average is $96.33.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 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 19.02% and a net margin of 20.85%.The business's quarterly revenue was up 273.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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.

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