FengHe Fund Management Pte. Ltd. Takes $63.01 Million Position in Credo Technology Group Holding Ltd. $CRDO

FengHe Fund Management Pte. Ltd. bought a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 680,555 shares of the company’s stock, valued at approximately $63,013,000. Credo Technology Group accounts for approximately 10.3% of FengHe Fund Management Pte. Ltd.’s investment portfolio, making the stock its 3rd largest holding. FengHe Fund Management Pte. Ltd. owned 0.40% of Credo Technology Group as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of CRDO. QTR Family Wealth LLC lifted its stake in shares of Credo Technology Group by 3.9% in the 2nd quarter. QTR Family Wealth LLC now owns 7,415 shares of the company’s stock valued at $687,000 after purchasing an additional 280 shares during the period. Truist Financial Corp acquired a new position in shares of Credo Technology Group in the 2nd quarter valued at $328,000. Janney Montgomery Scott LLC lifted its stake in Credo Technology Group by 144.2% in the second quarter. Janney Montgomery Scott LLC now owns 16,413 shares of the company’s stock valued at $1,520,000 after buying an additional 9,692 shares during the period. Oakworth Capital Inc. acquired a new stake in shares of Credo Technology Group in the 2nd quarter valued at approximately $80,000. Finally, Wolff Wiese Magana LLC raised its holdings in Credo Technology Group by 200.0% in the second quarter. Wolff Wiese Magana LLC now owns 450 shares of the company’s stock worth $42,000 after purchasing an additional 300 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $148.87, for a total transaction of $8,187,850.00. Following the sale, the chief technology officer owned 6,888,961 shares in the company, valued at approximately $1,025,559,624.07. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel W. Fleming sold 3,790 shares of Credo Technology Group stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $137.55, for a total transaction of $521,314.50. Following the sale, the chief financial officer directly owned 576,178 shares in the company, valued at $79,253,283.90. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 798,915 shares of company stock worth $99,967,495 in the last quarter. 11.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRDO has been the topic of several analyst reports. TD Cowen started coverage on shares of Credo Technology Group in a report on Wednesday. They issued a “buy” rating and a $170.00 target price on the stock. Needham & Company LLC raised their price target on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Barclays raised their target price on shares of Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Mizuho raised their target price 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. Finally, Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $128.55.

Credo Technology Group Stock Down 0.5%

NASDAQ:CRDO opened at $144.91 on Thursday. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 216.28 and a beta of 2.60. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $176.70. The stock’s 50 day moving average price is $131.38 and its two-hundred day moving average price is $86.69.

Credo Technology Group (NASDAQ:CRDO) last issued its 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 return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. 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. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

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.