Pallas Capital Advisors LLC Buys Shares of 3,615 Credo Technology Group Holding Ltd. $CRDO

Pallas Capital Advisors LLC acquired a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,615 shares of the company's stock, valued at approximately $335,000.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in Credo Technology Group by 21.5% during the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock valued at $56,000 after purchasing an additional 245 shares during the period. Operose Advisors LLC lifted its stake in Credo Technology Group by 69.2% during the 1st 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. Calamos Advisors LLC lifted its stake in shares of Credo Technology Group by 3.1% in the 1st quarter. Calamos Advisors LLC now owns 17,369 shares of the company's stock worth $698,000 after purchasing an additional 529 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Credo Technology Group in the 1st quarter worth approximately $25,000. Finally, KBC Group NV lifted its stake in shares of Credo Technology Group by 11.7% in the 1st quarter. KBC Group NV now owns 6,324 shares of the company's stock worth $254,000 after purchasing an additional 663 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRDO has been the topic of a number of recent analyst reports. William Blair began coverage on shares of Credo Technology Group in a research note on Thursday. They set an "outperform" rating on the stock. Cowen restated a "buy" rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Roth Capital lifted their target price on Credo Technology Group from $95.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Wall Street Zen downgraded Credo Technology Group from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Needham & Company LLC lifted their price objective 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 and thirteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $126.27.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $169.56 on Monday. The company has a market cap of $29.33 billion, a price-to-earnings ratio of 253.07 and a beta of 2.59. The stock has a 50 day simple moving average of $123.01 and a 200-day simple moving average of $81.38. Credo Technology Group Holding Ltd. has a 1-year low of $28.31 and a 1-year high of $176.70.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the company earned $0.04 earnings per share. The company's quarterly revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $105.80, for a total value of $5,819,000.00. Following the completion of the transaction, the chief technology officer directly owned 7,163,961 shares of the company's stock, valued at approximately $757,947,073.80. This represents a 0.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Joseph Brennan sold 150,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the sale, the chief executive officer owned 2,061,978 shares of the company's stock, valued at approximately $220,363,588.86. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 816,163 shares of company stock valued at $92,702,453. 11.84% of the stock is owned by insiders.

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.

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