Norden Group LLC Buys Shares of 2,284 Credo Technology Group Holding Ltd. $CRDO

Key Points

• Norden Group LLC has acquired 2,284 shares of Credo Technology Group, valued at approximately $211,000, during the 2nd quarter.
• Significant insider selling occurred recently, with CFO Daniel Fleming and CEO William Brennan collectively selling shares valued at around $3.48 million.
• Analysts have generally upgraded their ratings on Credo Technology Group, with a consensus target price of $126.27 and several firms issuing "buy" and "strong-buy" ratings.

Norden Group LLC purchased a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,284 shares of the company's stock, valued at approximately $211,000.

A number of other institutional investors also recently bought and sold shares of CRDO. Nuveen LLC bought a new stake in Credo Technology Group during the first quarter valued at about $52,636,000. Swedbank AB raised its stake in Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company's stock worth $129,280,000 after acquiring an additional 733,811 shares during the period. Candriam S.C.A. purchased a new position in Credo Technology Group during the first quarter valued at approximately $29,258,000. Westfield Capital Management Co. LP bought a new position in shares of Credo Technology Group in the first quarter worth approximately $24,329,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock worth $61,235,000 after purchasing an additional 589,151 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Insider Activity at Credo Technology Group

In other news, CFO Daniel W. Fleming sold 3,790 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $137.55, for a total value of $521,314.50. Following the completion of the sale, the chief financial officer owned 576,178 shares in the company, valued at approximately $79,253,283.90. This trade represents a 0.65% decrease in their position. 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 18,016 shares of Credo Technology Group stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $164.11, for a total transaction of $2,956,605.76. Following the transaction, the chief executive officer directly owned 369,173 shares of the company's stock, valued at approximately $60,584,981.03. This represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 798,915 shares of company stock valued at $96,875,395 over the last ninety days. 11.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CRDO shares. Wall Street Zen raised shares of Credo Technology Group from a "hold" rating to a "buy" rating in a report on Sunday. Mizuho boosted their price objective on Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. Stifel Nicolaus set a $155.00 target price on Credo Technology Group in a research note on Thursday, September 4th. Finally, William Blair began coverage on Credo Technology Group in a report on Thursday, September 18th. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat.com, Credo Technology Group presently has an average rating of "Buy" and a consensus target price of $126.27.

Credo Technology Group Trading Down 1.4%

NASDAQ:CRDO opened at $142.93 on Friday. The business's 50-day moving average is $128.39 and its 200 day moving average is $84.91. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70. The company has a market capitalization of $24.73 billion, a P/E ratio of 213.33 and a beta of 2.59.

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

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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