Voya Investment Management LLC Increases Stock Position in Credo Technology Group Holding Ltd. $CRDO

Key Points

• Voya Investment Management LLC increased its stake in Credo Technology Group by 233.5% in the first quarter, acquiring an additional 96,985 shares for a total of 138,516 shares valued at approximately $5.56 million.
• Several institutional investors, including Cetera Investment Advisers and UBS AM, have also boosted their positions in Credo Technology Group, highlighting strong institutional interest as they now own 80.46% of the company's stock.
• Analysts have upgraded Credo Technology Group, with a consensus rating of "Buy" and a price target average of $126.27, reflecting bullish sentiment in the company's outlook.

Voya Investment Management LLC grew its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 233.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,516 shares of the company's stock after acquiring an additional 96,985 shares during the quarter. Voya Investment Management LLC owned about 0.08% of Credo Technology Group worth $5,563,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CRDO. Cetera Investment Advisers lifted its stake in shares of Credo Technology Group by 45.4% in the 4th quarter. Cetera Investment Advisers now owns 11,956 shares of the company's stock worth $804,000 after purchasing an additional 3,732 shares during the period. State of Wyoming lifted its stake in shares of Credo Technology Group by 44.9% in the 4th quarter. State of Wyoming now owns 5,227 shares of the company's stock worth $351,000 after purchasing an additional 1,620 shares during the period. Tidal Investments LLC bought a new position in shares of Credo Technology Group in the 4th quarter worth approximately $2,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Credo Technology Group by 24.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 303,656 shares of the company's stock worth $20,409,000 after purchasing an additional 59,937 shares during the period. Finally, PharVision Advisers LLC bought a new position in shares of Credo Technology Group in the 4th quarter worth approximately $214,000. Institutional investors own 80.46% of the company's stock.

Analyst Ratings Changes

CRDO has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Credo Technology Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Roth Capital raised their target price on shares of Credo Technology Group from $95.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Susquehanna raised their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a "positive" rating in a research note on Thursday, September 4th. Noble Financial upgraded shares of Credo Technology Group to a "strong-buy" rating in a research note on Tuesday, June 3rd. Finally, Mizuho increased their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $126.27.

Credo Technology Group Stock Up 4.8%

NASDAQ CRDO opened at $172.31 on Friday. The company has a fifty day moving average of $121.59 and a two-hundred day moving average of $80.08. The firm has a market capitalization of $29.81 billion, a price-to-earnings ratio of 257.18 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 52 week low of $28.00 and a 52 week high of $176.70.

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 for the quarter, missing the consensus estimate 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 the consensus estimate of $190.63 million. During the same quarter last year, the business posted $0.04 earnings per share. The firm's revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In other news, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Friday, August 1st. The stock was sold at an average price of $107.00, for a total transaction of $200,625.00. Following the completion of the sale, the director directly owned 5,898,652 shares in the company, valued at approximately $631,155,764. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Laufman sold 10,000 shares of Credo Technology Group stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider owned 232,284 shares of the company's stock, valued at $32,519,760. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 871,163 shares of company stock valued at $97,342,803. 11.84% of the stock is owned by company 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.

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.