Penserra Capital Management LLC Makes New $16.75 Million Investment in Credo Technology Group Holding Ltd. $CRDO

Penserra Capital Management LLC purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 180,887 shares of the company’s stock, valued at approximately $16,748,000. Penserra Capital Management LLC owned approximately 0.11% of Credo Technology Group at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new stake in Credo Technology Group in the 1st quarter valued at approximately $52,636,000. Swedbank AB raised its holdings in shares of Credo Technology Group by 29.5% in the first 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 last quarter. Candriam S.C.A. acquired a new stake in shares of Credo Technology Group in the first quarter valued at approximately $29,258,000. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Credo Technology Group in the second quarter worth $63,013,000. Finally, Westfield Capital Management Co. LP acquired a new position in Credo Technology Group during the first quarter worth $24,329,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $156.32, for a total value of $8,597,600.00. Following the transaction, the chief technology officer directly owned 6,668,961 shares in the company, valued at $1,042,491,983.52. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Manpreet Khaira sold 5,000 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $149.67, for a total transaction of $748,350.00. Following the completion of the transaction, the director directly owned 58,574 shares in the company, valued at $8,766,770.58. The trade was a 7.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 973,161 shares of company stock worth $149,011,579. 11.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRDO. Barclays reiterated an “overweight” rating and issued a $165.00 price target on shares of Credo Technology Group in a research note on Tuesday, October 7th. Needham & Company LLC lifted their target price on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Susquehanna upped their target price on Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Mizuho raised their price target on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, Roth Capital reaffirmed a “buy” rating and set a $170.00 price target on shares of Credo Technology Group in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.36.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $163.61 on Friday. The stock has a 50-day simple moving average of $151.97 and a 200 day simple moving average of $108.53. The stock has a market capitalization of $28.30 billion, a P/E ratio of 244.19 and a beta of 2.62. Credo Technology Group Holding Ltd. has a 52 week low of $29.09 and a 52 week high of $193.50.

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). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. During the same quarter in the prior year, the company earned $0.04 EPS. Credo Technology Group’s quarterly revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current 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.