Envestnet Asset Management Inc. Grows Stock Position in Credo Technology Group Holding Ltd. $CRDO

Envestnet Asset Management Inc. lifted its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 17.4% during the second quarter, Holdings Channel reports. The institutional investor owned 75,869 shares of the company’s stock after acquiring an additional 11,233 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Credo Technology Group were worth $7,025,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Swedbank AB lifted its holdings in 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 acquiring an additional 733,811 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Credo Technology Group by 6.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,846,387 shares of the company’s stock valued at $74,151,000 after purchasing an additional 105,405 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Credo Technology Group by 63.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after purchasing an additional 589,151 shares in the last quarter. Nuveen LLC acquired a new position in shares of Credo Technology Group in the 1st quarter valued at $52,636,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Credo Technology Group by 74.3% during the first quarter. The Manufacturers Life Insurance Company now owns 1,098,369 shares of the company’s stock worth $44,110,000 after buying an additional 468,145 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, Director Pantas Sutardja sold 1,875 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $189.35, for a total transaction of $355,031.25. Following the completion of the sale, the director owned 5,893,909 shares of the company’s stock, valued at $1,116,011,669.15. This represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Joseph Brennan sold 18,016 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $171.23, for a total transaction of $3,084,879.68. Following the completion of the sale, the chief executive officer owned 319,907 shares of the company’s stock, valued at $54,777,675.61. This trade represents a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 973,161 shares of company stock worth $149,011,579 over the last 90 days. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Trading Down 6.9%

NASDAQ:CRDO opened at $158.50 on Wednesday. The stock has a 50 day moving average of $153.60 and a two-hundred day moving average of $110.72. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $193.50. The firm has a market cap of $27.42 billion, a P/E ratio of 236.57 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share 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 firm had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same quarter last year, the business earned $0.04 EPS. The business’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRDO shares. Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. Roth Capital restated a “buy” rating and set a $170.00 target price on shares of Credo Technology Group in a research report on Tuesday, September 30th. Needham & Company LLC upped their price target on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Susquehanna increased their price target on Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research cut Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. One 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. According to data from MarketBeat.com, Credo Technology Group currently has an average rating of “Moderate Buy” and an average target price 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.