SeaCrest Wealth Management LLC Has $422,000 Stock Holdings in Credo Technology Group Holding Ltd. $CRDO

Key Points

• SeaCrest Wealth Management LLC significantly reduced its stake in Credo Technology Group by 64.4% during Q2, now holding shares worth $422,000.
• CEO William Joseph Brennan sold 18,016 shares of the company's stock for approximately $2.96 million, decreasing his ownership by 4.65%.
• The company reported a revenue of $223.07 million for the last quarter, surpassing analyst expectations and marking a 273.6% increase year-over-year.

SeaCrest Wealth Management LLC reduced its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 64.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,562 shares of the company's stock after selling 8,249 shares during the period. SeaCrest Wealth Management LLC's holdings in Credo Technology Group were worth $422,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock worth $270,000 after buying an additional 1,467 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credo Technology Group during the 1st quarter worth approximately $27,000. Teacher Retirement System of Texas raised its holdings in Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock worth $1,405,000 after buying an additional 28,788 shares during the period. Triumph Capital Management acquired a new stake in Credo Technology Group during the 2nd quarter worth approximately $733,000. Finally, Intech Investment Management LLC raised its holdings in Credo Technology Group by 153.0% during the 1st quarter. Intech Investment Management LLC now owns 120,338 shares of the company's stock worth $4,833,000 after buying an additional 72,782 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Credo Technology Group

In other news, CEO William Joseph Brennan sold 18,016 shares of Credo Technology Group stock in a transaction on 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 completion of the sale, the chief executive officer owned 369,173 shares of the company's stock, valued at approximately $60,584,981.03. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Friday, August 1st. The stock was sold at an average price of $107.00, for a total value of $200,625.00. Following the sale, the director directly owned 5,898,652 shares of the company's stock, valued at $631,155,764. This represents a 0.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 816,163 shares of company stock valued at $92,702,453. 11.84% of the stock is currently owned by insiders.

Credo Technology Group Price Performance

CRDO stock opened at $169.56 on Monday. The company has a fifty day moving average price of $123.01 and a two-hundred day moving average price of $81.38. Credo Technology Group Holding Ltd. has a one year low of $28.31 and a one year high of $176.70. The stock has a market cap of $29.33 billion, a price-to-earnings ratio of 253.07 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 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 company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. During the same period last year, the firm earned $0.04 earnings per share. The company's revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Susquehanna raised their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a "positive" rating in a report on Thursday, September 4th. Mizuho raised their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Roth Capital raised their price target on shares of Credo Technology Group from $95.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Barclays raised their price target on shares of Credo Technology Group from $85.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Finally, Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $126.27.

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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