Taylor Frigon Capital Management LLC Cuts Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Taylor Frigon Capital Management LLC reduced its stake in Credo Technology Group by 7.0%, now holding 45,353 shares, which represent 2.2% of its total holdings and valued at approximately $4.2 million.
• Several institutional investors have recently adjusted their positions in Credo Technology Group, with GAMMA Investing LLC increasing its stake by over 8,000% in the first quarter.
• Analysts have set a wide range of price targets for CRDO, with Barclays raising it from $85.00 to $165.00, while the average target price is currently at $126.27.

Taylor Frigon Capital Management LLC trimmed its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 7.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,353 shares of the company's stock after selling 3,432 shares during the quarter. Credo Technology Group accounts for 2.2% of Taylor Frigon Capital Management LLC's holdings, making the stock its biggest position. Taylor Frigon Capital Management LLC's holdings in Credo Technology Group were worth $4,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Credo Technology Group during the fourth quarter worth $7,799,000. GAMMA Investing LLC raised its stake 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 valued at $3,197,000 after purchasing an additional 78,623 shares during the period. Summit Global Investments bought a new position in Credo Technology Group during the first quarter worth $390,000. Rhumbline Advisers increased its holdings in shares of Credo Technology Group by 4.9% in the first quarter. Rhumbline Advisers now owns 205,046 shares of the company's stock valued at $8,235,000 after purchasing an additional 9,615 shares during the last quarter. Finally, Kraematon Investment Advisors Inc. acquired a new stake in shares of Credo Technology Group during the 1st quarter worth about $389,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CRDO shares. Stifel Nicolaus set a $155.00 price target on shares of Credo Technology Group in a research note on Thursday, September 4th. William Blair began coverage on Credo Technology Group in a research report on Thursday, September 18th. They issued an "outperform" rating on the stock. Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 8th. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Finally, Barclays increased 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 report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $126.27.

Insiders Place Their Bets

In related news, CEO William Joseph Brennan sold 150,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were 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. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $91.94, for a total value of $5,056,700.00. Following the sale, the chief technology officer owned 7,328,961 shares of the company's stock, valued at approximately $673,824,674.34. The trade was a 0.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 743,915 shares of company stock valued at $91,779,645 in the last three months. 11.84% of the stock is owned by insiders.

Credo Technology Group Trading Down 1.4%

Shares of CRDO opened at $142.93 on Monday. The stock's 50-day moving average price is $128.39 and its two-hundred day moving average price is $85.19. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70. The company has a market capitalization of $24.73 billion, a PE ratio of 213.33 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted 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). The company had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.Credo Technology Group's revenue was up 273.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Credo Technology Group Company 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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