National Bank of Canada FI Takes $353,000 Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• National Bank of Canada FI has invested approximately $353,000 in Credo Technology Group by acquiring 8,800 shares in the first quarter.
• Institutional investors now own 80.46% of Credo Technology Group's stock, indicating strong support from large investors.
• Credo Technology Group reported quarterly earnings of $0.35 per share, exceeding analysts' expectations of $0.27, with year-over-year revenue growth of 179.6%.

National Bank of Canada FI acquired a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,800 shares of the company's stock, valued at approximately $353,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. bought a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $29,000. Optimum Investment Advisors bought a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $52,000. Larson Financial Group LLC increased its holdings in shares of Credo Technology Group by 21.5% in the 1st 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 last quarter. Finally, Quarry LP bought a new stake in shares of Credo Technology Group in the 4th quarter valued at approximately $58,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Credo Technology Group Price Performance

NASDAQ:CRDO traded down $2.0690 during midday trading on Wednesday, reaching $104.2310. 3,187,352 shares of the company traded hands, compared to its average volume of 5,194,171. Credo Technology Group Holding Ltd. has a twelve month low of $24.08 and a twelve month high of $128.56. The company has a fifty day moving average price of $99.41 and a 200 day moving average price of $69.54. The firm has a market capitalization of $17.89 billion, a price-to-earnings ratio of 386.85, a price-to-earnings-growth ratio of 2.13 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results on Monday, June 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%.The company had revenue of $170.00 million during the quarter, compared to analyst estimates of $159.59 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm's quarterly revenue was up 179.6% on a year-over-year basis. Credo Technology Group has set its Q1 2026 guidance at EPS. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was 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 in the company, valued at approximately $220,363,588.86. The trade was a 6.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lip Bu Tan sold 171,473 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $77.90, for a total value of $13,357,746.70. Following the transaction, the director owned 613,725 shares of the company's stock, valued at $47,809,177.50. This trade represents a 21.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,274,583 shares of company stock worth $113,118,257. 16.04% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRDO. Susquehanna boosted their price target on Credo Technology Group from $90.00 to $115.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Credo Technology Group from a "hold" rating to a "buy" rating in a research report on Saturday. Mizuho boosted their price objective on Credo Technology Group from $112.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. Roth Capital set a $95.00 price objective on Credo Technology Group and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Stifel Nicolaus boosted their price objective on Credo Technology Group from $80.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, Credo Technology Group has a consensus rating of "Buy" and a consensus price target of $91.27.

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.