US Bancorp DE Sells 5,269 Shares of Credo Technology Group Holding Ltd. $CRDO

Key Points

• US Bancorp DE reduced its holdings in Credo Technology Group by 57.0% in Q1, now owning 3,971 shares worth approximately $159,000.
• In the most recent quarter, Credo Technology Group reported earnings of $0.35 per share, surpassing estimates, with a revenue increase of 179.6% year-over-year.
• Thirteen analysts rated Credo Technology Group as a "buy" with a consensus price target of $91.27.

US Bancorp DE trimmed its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 57.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,971 shares of the company's stock after selling 5,269 shares during the period. US Bancorp DE's holdings in Credo Technology Group were worth $159,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credo Technology Group in the 1st quarter worth approximately $27,000. Harbour Investments Inc. purchased a new position in Credo Technology Group in the 1st quarter worth approximately $29,000. Quarry LP purchased a new position in Credo Technology Group in the 4th quarter worth approximately $58,000. Optimum Investment Advisors purchased a new position in Credo Technology Group in the 1st quarter worth approximately $52,000. Finally, Larson Financial Group LLC raised 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 worth $56,000 after acquiring an additional 245 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRDO has been the subject of a number of recent analyst reports. Susquehanna boosted their price objective on shares of Credo Technology Group from $90.00 to $115.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Noble Financial upgraded shares of Credo Technology Group to a "strong-buy" rating in a report on Tuesday, June 3rd. Roth Capital set a $95.00 price objective on shares of Credo Technology Group and gave the stock a "buy" rating in a report on Friday, June 13th. Stifel Nicolaus boosted their price objective on shares of Credo Technology Group from $80.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Cowen restated a "buy" rating on shares of Credo Technology Group in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. Based on data from MarketBeat, Credo Technology Group currently has an average rating of "Buy" and a consensus target price of $91.27.

Credo Technology Group Trading Down 2.3%

NASDAQ:CRDO traded down $2.3950 during trading hours on Wednesday, reaching $103.9050. The company had a trading volume of 3,057,060 shares, compared to its average volume of 5,193,566. Credo Technology Group Holding Ltd. has a 52 week low of $24.08 and a 52 week high of $128.56. The firm has a market cap of $17.83 billion, a price-to-earnings ratio of 383.47, a PEG ratio of 2.13 and a beta of 2.59. The firm's 50 day moving average price is $99.41 and its 200-day moving average price is $69.54.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings data on Monday, June 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Credo Technology Group had a net margin of 11.95% and a return on equity of 8.77%. The firm had revenue of $170.00 million during the quarter, compared to the consensus estimate of $159.59 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The company's revenue for the quarter was up 179.6% compared to the same quarter last year. Credo Technology Group has set its Q1 2026 guidance at EPS. On average, analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other news, CEO William Joseph Brennan sold 46,444 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 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. The trade was a 10.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $107.12, for a total transaction of $5,891,600.00. Following the sale, the chief technology officer directly owned 7,108,961 shares of the company's stock, valued at approximately $761,511,902.32. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,274,583 shares of company stock worth $113,118,257. 16.04% of the stock is currently owned by insiders.

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.