Bernard Wealth Management Corp. Purchases New Holdings in Credo Technology Group Holding Ltd. $CRDO

Bernard Wealth Management Corp. purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,000 shares of the company’s stock, valued at approximately $93,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRDO. Wolff Wiese Magana LLC raised its holdings in Credo Technology Group by 200.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 450 shares of the company’s stock valued at $42,000 after acquiring an additional 300 shares during the last quarter. Operose Advisors LLC raised its holdings in Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after acquiring an additional 252 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Credo Technology Group in the 1st quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credo Technology Group in the 1st quarter valued at about $27,000. Finally, Signaturefd LLC raised its holdings in Credo Technology Group by 32.4% in the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock valued at $65,000 after acquiring an additional 172 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Stock Down 8.2%

Shares of CRDO stock opened at $138.83 on Friday. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $176.70. The stock has a market capitalization of $24.02 billion, a PE ratio of 207.21 and a beta of 2.60. The firm has a 50 day moving average of $136.63 and a two-hundred day moving average of $91.42.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $223.07 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 273.6% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Transactions at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 112,580 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the sale, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at $63,389,299.60. The trade was a 19.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lip Bu Tan sold 20,000 shares of Credo Technology Group stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $175.12, for a total transaction of $3,502,400.00. Following the completion of the transaction, the director owned 422,180 shares in the company, valued at approximately $73,932,161.60. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 997,181 shares of company stock valued at $131,069,480 over the last quarter. 11.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on CRDO shares. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Barclays restated an “overweight” rating and set a $165.00 price target on shares of Credo Technology Group in a report on Tuesday. Mizuho raised their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Susquehanna raised their price target on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a report on Thursday, September 4th. Finally, Roth Capital restated a “buy” rating and set a $170.00 price target on shares of Credo Technology Group in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $128.55.

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.