Credo Technology Group Holding Ltd. $CRDO Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. cut its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 35.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,061 shares of the company’s stock after selling 6,176 shares during the quarter. Fox Run Management L.L.C.’s holdings in Credo Technology Group were worth $1,024,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ethic Inc. grew its stake in Credo Technology Group by 35.5% in the 2nd quarter. Ethic Inc. now owns 7,142 shares of the company’s stock valued at $668,000 after acquiring an additional 1,873 shares during the last quarter. Realta Investment Advisors purchased a new stake in shares of Credo Technology Group in the second quarter valued at about $300,000. Convergence Investment Partners LLC acquired a new stake in shares of Credo Technology Group in the second quarter valued at approximately $2,577,000. Farther Finance Advisors LLC grew its position in shares of Credo Technology Group by 850.6% in the second quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock valued at $383,000 after purchasing an additional 3,700 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Credo Technology Group by 61.7% during the 2nd quarter. US Bancorp DE now owns 6,422 shares of the company’s stock worth $595,000 after purchasing an additional 2,451 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Credo Technology Group

In other news, COO Yat Tung Lam sold 80,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the completion of the sale, the chief operating officer owned 920,000 shares of the company’s stock, valued at $132,047,600. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel W. Fleming sold 112,580 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the completion of the transaction, the chief financial officer owned 458,678 shares of the company’s stock, valued at $63,389,299.60. This trade represents a 19.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 973,161 shares of company stock worth $149,011,579. 11.84% of the stock is owned by insiders.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $163.61 on Friday. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $193.50. The company has a 50 day moving average price of $151.97 and a 200 day moving average price of $108.53. The firm has a market capitalization of $28.30 billion, a price-to-earnings ratio of 244.19 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The company had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same quarter last year, the business earned $0.04 EPS. 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. As a group, equities analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Roth Capital reiterated a “buy” rating and set a $170.00 target price on shares of Credo Technology Group in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. Susquehanna upped their target price on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. William Blair began coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They set an “outperform” rating on the stock. Finally, TD Cowen initiated coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average price target of $140.36.

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.