5,601 Shares in Credo Technology Group Holding Ltd. $CRDO Bought by GK Wealth Management LLC

GK Wealth Management LLC purchased a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,601 shares of the company’s stock, valued at approximately $225,000.

Other large investors have also modified their holdings of the company. Operose Advisors LLC grew its stake in shares of Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after buying an additional 252 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $27,000. Harbour Investments Inc. acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $29,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $31,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insiders Place Their Bets

In other Credo Technology Group news, Director Lip Bu Tan sold 171,473 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $77.90, for a total transaction of $13,357,746.70. Following the completion of the transaction, the director owned 613,725 shares in the company, valued at approximately $47,809,177.50. The trade was a 21.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Joseph Brennan sold 150,000 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the sale, the chief executive officer directly owned 2,061,978 shares in the company, valued at $220,363,588.86. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,037,444 shares of company stock worth $100,235,647. 11.84% of the stock is owned by company insiders.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $163.96 on Thursday. Credo Technology Group Holding Ltd. has a 1 year low of $25.04 and a 1 year high of $164.06. The stock has a fifty day moving average of $113.21 and a two-hundred day moving average of $75.60. The firm has a market capitalization of $28.37 billion, a PE ratio of 244.72 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly 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 analyst estimates of $190.63 million. During the same quarter last year, the firm posted $0.04 EPS. The company’s revenue 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 predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRDO has been the subject of a number of recent research reports. Needham & Company LLC increased their target price on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Roth Capital raised their price objective on Credo Technology Group from $95.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Noble Financial upgraded Credo Technology Group to a “strong-buy” rating in a research note on Tuesday, June 3rd. Finally, Stifel Nicolaus set a $155.00 target price on Credo Technology Group in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $126.27.

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.