Triumph Capital Management Makes New $733,000 Investment in Credo Technology Group Holding Ltd. $CRDO

Triumph Capital Management purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,922 shares of the company's stock, valued at approximately $733,000.

A number of other institutional investors have also modified their holdings of the company. Swedbank AB boosted its holdings in shares of Credo Technology Group by 29.5% in the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company's stock valued at $129,280,000 after buying an additional 733,811 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Credo Technology Group by 6.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,846,387 shares of the company's stock valued at $74,151,000 after buying an additional 105,405 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Credo Technology Group by 63.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after buying an additional 589,151 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Credo Technology Group by 55.3% in the 4th quarter. Two Sigma Investments LP now owns 1,515,268 shares of the company's stock valued at $101,841,000 after purchasing an additional 539,766 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Credo Technology Group in the 1st quarter valued at approximately $52,636,000. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group Stock Up 1.2%

Credo Technology Group stock opened at $163.98 on Tuesday. Credo Technology Group Holding Ltd. has a 52-week low of $26.96 and a 52-week high of $168.42. The firm has a market capitalization of $28.37 billion, a price-to-earnings ratio of 244.75 and a beta of 2.59. The company has a fifty day simple moving average of $117.33 and a 200-day simple moving average of $78.05.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (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 business had revenue of $223.07 million for the quarter, compared to analysts' expectations of $190.63 million. During the same period in the previous year, the company earned $0.04 EPS. Credo Technology Group'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, research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Zacks Research raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. Noble Financial raised shares of Credo Technology Group to a "strong-buy" rating in a research report on Tuesday, June 3rd. 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 report on Thursday, September 4th. Cowen reissued a "buy" rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Finally, TD Cowen raised their price target on shares of Credo Technology Group from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $126.27.

Insider Buying and Selling at Credo Technology Group

In other news, CEO William Joseph Brennan sold 46,444 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total transaction of $4,963,470.28. Following the completion of the sale, the chief executive officer owned 393,338 shares of the company's stock, valued at $42,036,032.06. This represents a 10.56% decrease in their ownership of the stock. The transaction 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 company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $146.21, for a total transaction of $8,041,550.00. Following the sale, the chief technology officer directly owned 7,053,961 shares of the company's stock, valued at $1,031,359,637.81. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 807,444 shares of company stock valued at $82,277,322. 11.84% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.