Robeco Institutional Asset Management B.V. Lowers Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Robeco Institutional Asset Management B.V. reduced its holdings in Credo Technology Group by 3.8% during the 2nd quarter, now owning 100,605 shares valued at approximately $9.31 million.
• Numerous institutional investors have increased their stakes in Credo, with GAMMA Investing LLC raising its position by a staggering 8,072.2% in the 1st quarter.
• Credo Technology Group reported $223.07 million in revenue for the last quarter, significantly surpassing analyst estimates of $190.63 million, despite missing EPS expectations by $0.02.

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,605 shares of the company's stock after selling 3,994 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of Credo Technology Group worth $9,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CRDO. GAMMA Investing LLC raised its position in shares of Credo Technology Group by 8,072.2% in the 1st quarter. GAMMA Investing LLC now owns 79,597 shares of the company's stock worth $3,197,000 after acquiring an additional 78,623 shares in the last quarter. Rhumbline Advisers raised its holdings in Credo Technology Group by 4.9% in the first quarter. Rhumbline Advisers now owns 205,046 shares of the company's stock worth $8,235,000 after purchasing an additional 9,615 shares in the last quarter. Kraematon Investment Advisors Inc. purchased a new stake in shares of Credo Technology Group during the first quarter valued at about $389,000. Harbor Capital Advisors Inc. bought a new stake in shares of Credo Technology Group in the 1st quarter valued at about $1,759,000. Finally, Handelsbanken Fonder AB grew its position in shares of Credo Technology Group by 7.3% in the 1st quarter. Handelsbanken Fonder AB now owns 35,400 shares of the company's stock worth $1,422,000 after buying an additional 2,400 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $143.87 on Monday. The company has a 50 day moving average price of $133.21 and a 200-day moving average price of $88.66. Credo Technology Group Holding Ltd. has a 1-year low of $29.09 and a 1-year high of $176.70. The firm has a market cap of $24.89 billion, a price-to-earnings ratio of 214.73 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same quarter in the prior year, the business posted $0.04 EPS. The firm'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. On average, sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRDO has been the subject of a number of analyst reports. Susquehanna increased their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a research report on Thursday, September 4th. Barclays increased their price objective on Credo Technology Group from $85.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Cowen restated a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Credo Technology Group in a research note on Saturday, September 27th. Finally, Needham & Company LLC raised their price target on Credo Technology Group from $85.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $128.55.

Insider Activity at Credo Technology Group

In related news, COO Yat Tung Lam sold 80,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the completion of the transaction, the chief operating officer owned 920,000 shares of the company's stock, valued at approximately $132,047,600. This represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Joseph Brennan sold 150,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 2,061,978 shares in the company, valued at $220,363,588.86. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 823,915 shares of company stock worth $106,393,195 in the last 90 days. Corporate insiders own 11.84% of the company's stock.

About Credo Technology Group

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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