TimesSquare Capital Management LLC Has $32.68 Million Stake in Credo Technology Group Holding Ltd. $CRDO

TimesSquare Capital Management LLC lessened its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 17.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 353,000 shares of the company’s stock after selling 73,900 shares during the period. TimesSquare Capital Management LLC owned 0.21% of Credo Technology Group worth $32,684,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wolff Wiese Magana LLC grew its holdings in shares of Credo Technology Group by 200.0% during 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 last quarter. Cullen Frost Bankers Inc. boosted its position in Credo Technology Group by 278.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 473 shares of the company’s stock worth $44,000 after buying an additional 348 shares during the period. Operose Advisors LLC boosted its position in Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after buying an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Credo Technology Group during the 1st quarter worth approximately $25,000. Finally, Signaturefd LLC increased its position in Credo Technology Group by 32.4% in the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock valued at $65,000 after acquiring an additional 172 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 112,580 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the sale, the chief financial officer directly owned 458,678 shares in the company, valued at $63,389,299.60. This represents a 19.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Yat Tung Lam sold 80,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the completion of the transaction, the chief operating officer directly owned 920,000 shares in the company, valued at $132,047,600. The trade was a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 973,161 shares of company stock valued at $149,011,579. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $158.50 on Wednesday. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $193.50. The stock’s 50-day moving average is $153.60 and its 200 day moving average is $110.72. The firm has a market cap of $27.42 billion, a price-to-earnings ratio of 236.57 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $223.07 million for 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%.Credo Technology Group’s quarterly revenue was up 273.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Stifel Nicolaus set a $160.00 price target on Credo Technology Group in a research report on Wednesday, October 1st. JPMorgan Chase & Co. began coverage on Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. One investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.36.

Credo Technology Group Company 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.