Thurston Springer Miller Herd & Titak Inc. Has $190,000 Stake in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Credo Technology Group by 335.8% in Q2, owning $190,000 worth of the company at the end of the quarter.
• The company reported a 273.6% increase in quarterly revenue year-over-year, reaching $223.07 million, though it missed earnings per share estimates.
• Several analysts have recently raised their price targets for Credo Technology Group, with some now set around $150 to $165, indicating a general buy sentiment among research firms.

Thurston Springer Miller Herd & Titak Inc. grew its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 335.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,057 shares of the company's stock after purchasing an additional 1,585 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Credo Technology Group were worth $190,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in shares of Credo Technology Group by 27.9% in the first quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock valued at $270,000 after purchasing an additional 1,467 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Credo Technology Group in the first quarter valued at about $27,000. Teacher Retirement System of Texas lifted its holdings in shares of Credo Technology Group by 464.4% in the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock valued at $1,405,000 after purchasing an additional 28,788 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Credo Technology Group by 15.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,730 shares of the company's stock valued at $873,000 after purchasing an additional 2,947 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Credo Technology Group in the first quarter valued at about $301,000. 80.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Credo Technology Group news, Director Lip Bu Tan sold 80,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $90.77, for a total transaction of $7,261,600.00. Following the transaction, the director owned 479,428 shares of the company's stock, valued at $43,517,679.56. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $105.80, for a total value of $5,819,000.00. Following the transaction, the chief technology officer directly owned 7,163,961 shares in the company, valued at approximately $757,947,073.80. This trade represents a 0.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 753,147 shares of company stock valued at $77,587,147 over the last 90 days. 11.84% of the stock is currently owned by insiders.

Credo Technology Group Stock Up 0.3%

Shares of NASDAQ CRDO opened at $164.42 on Wednesday. The business's 50 day moving average price is $118.75 and its two-hundred day moving average price is $78.64. The company has a market cap of $28.44 billion, a PE ratio of 245.40 and a beta of 2.59. Credo Technology Group Holding Ltd. has a twelve month low of $26.96 and a twelve month high of $168.42.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The business had revenue of $223.07 million for 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 quarterly revenue was up 273.6% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

CRDO has been the topic of a number of research reports. Needham & Company LLC boosted their price target on Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Mizuho boosted their price target on Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Stifel Nicolaus set a $155.00 price target on Credo Technology Group in a report on Thursday, September 4th. Susquehanna boosted their price target on Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a report on Thursday, September 4th. Finally, Wall Street Zen upgraded Credo Technology Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $126.27.

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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