Quantbot Technologies LP Has $6.13 Million Stake in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Quantbot Technologies LP increased its stake in Credo Technology Group by 74.6%, owning approximately 152,715 shares valued at $6.13 million by the end of the first quarter.
• Thirteen analysts have rated Credo Technology Group with a consensus rating of "Buy" and an average price target of $91.27.
• Director Lip Bu Tan sold 171,473 shares at an average price of $77.90, leading to a 21.84% decrease in their position.

Quantbot Technologies LP lifted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 74.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,715 shares of the company's stock after buying an additional 65,263 shares during the quarter. Quantbot Technologies LP owned about 0.09% of Credo Technology Group worth $6,133,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CRDO. Operose Advisors LLC raised its stake in shares of Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after acquiring an additional 252 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group in the first quarter valued at approximately $27,000. Harbour Investments Inc. acquired a new position in Credo Technology Group during the 1st quarter worth $29,000. Quarry LP acquired a new position in Credo Technology Group during the 4th quarter worth $58,000. Finally, Optimum Investment Advisors bought a new position in Credo Technology Group in the 1st quarter valued at $52,000. Institutional investors own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRDO. Wall Street Zen raised Credo Technology Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Barclays set a $85.00 target price on shares of Credo Technology Group and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research report on Tuesday, June 3rd. TD Cowen boosted their price target on shares of Credo Technology Group from $85.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Finally, Mizuho raised their price objective on shares of Credo Technology Group from $112.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. Based on data from MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and a consensus price target of $91.27.

Insiders Place Their Bets

In other Credo Technology Group news, CTO Chi Fung Cheng sold 59,641 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $74.96, for a total value of $4,470,689.36. Following the completion of the transaction, the chief technology officer directly owned 7,603,961 shares of the company's stock, valued at approximately $569,992,916.56. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Joseph Brennan sold 150,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $16,030,500.00. Following the sale, the chief executive officer directly owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,274,583 shares of company stock worth $113,118,257. Corporate insiders own 16.04% of the company's stock.

Credo Technology Group Trading Up 2.9%

Shares of NASDAQ:CRDO traded up $3.18 during mid-day trading on Friday, reaching $114.04. The stock had a trading volume of 4,811,275 shares, compared to its average volume of 3,977,071. The firm has a 50 day simple moving average of $101.64 and a two-hundred day simple moving average of $70.32. Credo Technology Group Holding Ltd. has a twelve month low of $24.08 and a twelve month high of $128.56. The firm has a market cap of $19.57 billion, a PE ratio of 422.37, a price-to-earnings-growth ratio of 1.99 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, June 2nd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Credo Technology Group had a net margin of 11.95% and a return on equity of 8.77%. The firm had revenue of $170.00 million during the quarter, compared to the consensus estimate of $159.59 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The business'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 analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS 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.