Credo Technology Group Holding Ltd. $CRDO Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Credo Technology Group by 0.8%, selling 2,200 shares, and now owns approximately 275,416 shares valued at about $11.06 million.
• Several analysts have raised their price targets for Credo Technology Group, with Susquehanna increasing its target from $90 to $115, reflecting strong investor confidence as 13 out of 14 analysts rate the stock as a buy or strong buy.
• Insider trading activity has been notable, with CFO Daniel W. Fleming selling 3,790 shares and CEO William Joseph Brennan selling 46,444 shares, indicating a 10.56% decrease in their ownership following their respective sales.

Swiss National Bank reduced its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 275,416 shares of the company's stock after selling 2,200 shares during the quarter. Swiss National Bank owned approximately 0.16% of Credo Technology Group worth $11,061,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credo Technology Group in the 1st quarter valued at $27,000. Harbour Investments Inc. purchased a new stake in Credo Technology Group in the 1st quarter valued at $29,000. Quarry LP purchased a new stake in Credo Technology Group in the 4th quarter valued at $58,000. Optimum Investment Advisors purchased a new stake in Credo Technology Group in the 1st quarter valued at $52,000. Finally, Larson Financial Group LLC grew its holdings in Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock valued at $56,000 after buying an additional 245 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lip Bu Tan sold 171,473 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $77.90, for a total transaction of $13,357,746.70. Following the transaction, the director owned 613,725 shares of the company's stock, valued at $47,809,177.50. This represents a 21.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 59,641 shares of the company's stock in a transaction on 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 transaction, the chief technology officer directly owned 7,603,961 shares in the company, valued at $569,992,916.56. This represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,274,583 shares of company stock valued at $113,118,257 over the last quarter. Company insiders own 16.04% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRDO shares. Roth Capital set a $95.00 target price on Credo Technology Group and gave the company a "buy" rating in a report on Friday, June 13th. Noble Financial upgraded Credo Technology Group to a "strong-buy" rating in a report on Tuesday, June 3rd. Wall Street Zen upgraded Credo Technology Group from a "hold" rating to a "buy" rating in a report on Saturday. Stifel Nicolaus increased their price target on Credo Technology Group from $80.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Mizuho increased their price target on Credo Technology Group from $112.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $91.27.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO traded down $2.0690 during midday trading on Wednesday, hitting $104.2310. 3,187,352 shares of the company's stock were exchanged, compared to its average volume of 5,194,171. Credo Technology Group Holding Ltd. has a twelve month low of $24.08 and a twelve month high of $128.56. The company has a market cap of $17.89 billion, a PE ratio of 386.85, a P/E/G ratio of 2.13 and a beta of 2.59. The firm's fifty day simple moving average is $99.41 and its 200-day simple moving average is $69.54.

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

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.