Credo Technology Group Holding Ltd. $CRDO Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 75.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,974 shares of the company’s stock after acquiring an additional 82,727 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Credo Technology Group were worth $16,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB boosted its position in Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock valued at $129,280,000 after purchasing an additional 733,811 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Credo Technology Group by 6.1% during the first quarter. Alliancebernstein L.P. now owns 1,846,387 shares of the company’s stock valued at $74,151,000 after acquiring an additional 105,405 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Credo Technology Group by 63.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after acquiring an additional 589,151 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Credo Technology Group in the 1st quarter worth about $52,636,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Credo Technology Group by 74.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,098,369 shares of the company’s stock worth $44,110,000 after acquiring an additional 468,145 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on CRDO. Mizuho upped their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. TD Cowen started coverage on Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 price target for the company. Finally, Cowen reissued a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Credo Technology Group has an average rating of “Buy” and a consensus price target of $131.58.

Insider Buying and Selling

In related news, Director Pantas Sutardja sold 4,408 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $147.41, for a total value of $649,783.28. Following the sale, the director directly owned 5,894,244 shares in the company, valued at $868,870,508.04. The trade was a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $148.08, for a total transaction of $8,144,400.00. Following the sale, the chief technology officer directly owned 6,778,961 shares of the company’s stock, valued at approximately $1,003,828,544.88. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,006,589 shares of company stock worth $135,192,863 in the last ninety days. Insiders own 11.84% of the company’s stock.

Credo Technology Group Price Performance

CRDO opened at $143.61 on Friday. The business has a 50 day moving average price of $138.80 and a two-hundred day moving average price of $94.74. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 214.34 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 1-year low of $29.09 and a 1-year high of $176.70.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm’s quarterly revenue was up 273.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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.