PDT Partners LLC Increases Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• PDT Partners LLC increased its stake in Credo Technology Group by 44.6%, acquiring an additional 43,214 shares during the first quarter, bringing its total ownership to 140,122 shares valued at approximately $5.6 million.
• Institutional investors now hold 80.46% of the company's stock, indicating strong support from major financial entities.
• Several analysts have raised their price targets for Credo Technology Group, with estimates now ranging from $85.00 to $135.00, reflecting a positive outlook on the stock's performance.

PDT Partners LLC increased its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 44.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,122 shares of the company's stock after acquiring an additional 43,214 shares during the period. PDT Partners LLC owned about 0.08% of Credo Technology Group worth $5,627,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CRDO. Larson Financial Group LLC increased its position in Credo Technology Group by 21.5% during the first quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock worth $56,000 after buying an additional 245 shares during the last quarter. Operose Advisors LLC increased its position in Credo Technology Group by 69.2% during the first quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after buying an additional 252 shares during the last quarter. Calamos Advisors LLC grew its position in shares of Credo Technology Group by 3.1% in the first quarter. Calamos Advisors LLC now owns 17,369 shares of the company's stock valued at $698,000 after purchasing an additional 529 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Credo Technology Group in the first quarter valued at approximately $25,000. Finally, KBC Group NV grew its position in shares of Credo Technology Group by 11.7% in the first quarter. KBC Group NV now owns 6,324 shares of the company's stock valued at $254,000 after purchasing an additional 663 shares during the last quarter. Institutional investors own 80.46% of the company's stock.

Insider Buying and Selling

In other Credo Technology Group news, Director Pantas Sutardja sold 1,875 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $107.00, for a total transaction of $200,625.00. Following the completion of the sale, the director directly owned 5,898,652 shares of the company's stock, valued at approximately $631,155,764. The trade was a 0.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $107.12, for a total value of $5,891,600.00. Following the sale, the chief technology officer directly owned 7,108,961 shares of the company's stock, valued at $761,511,902.32. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,123,654 shares of company stock valued at $101,794,933. Company insiders own 11.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen upped their target price on Credo Technology Group from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday. Needham & Company LLC upped their target price on Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday. Susquehanna upped their target price on Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a research report on Thursday. Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a research report on Tuesday, June 3rd. Finally, Barclays upped their target price on Credo Technology Group from $85.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to MarketBeat.com, Credo Technology Group has an average rating of "Buy" and an average price target of $126.27.

Credo Technology Group Price Performance

NASDAQ:CRDO traded up $6.82 during trading hours on Friday, reaching $140.82. 7,238,133 shares of the company were exchanged, compared to its average volume of 4,568,229. The business has a 50 day moving average of $109.39 and a 200 day moving average of $73.87. The company has a market capitalization of $24.36 billion, a P/E ratio of 210.18, a P/E/G ratio of 2.40 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 1-year low of $24.08 and a 1-year high of $142.57.

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 firm 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 20.24%. The firm's revenue was up 273.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal 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.