Lisanti Capital Growth LLC boosted its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Free Report) by 1,578.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,855 shares of the company’s stock after purchasing an additional 95,785 shares during the quarter. Credo Technology Group comprises 2.6% of Lisanti Capital Growth LLC’s holdings, making the stock its largest holding. Lisanti Capital Growth LLC owned 0.06% of Credo Technology Group worth $9,431,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CRDO. Nisa Investment Advisors LLC raised its holdings in shares of Credo Technology Group by 3.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company’s stock valued at $341,000 after purchasing an additional 126 shares during the period. Blue Trust Inc. increased its position in Credo Technology Group by 3.9% in the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock valued at $380,000 after buying an additional 154 shares in the last quarter. Signaturefd LLC raised its stake in Credo Technology Group by 32.4% during the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after buying an additional 172 shares during the period. Larson Financial Group LLC raised its stake in Credo Technology Group by 21.5% during the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock worth $56,000 after buying an additional 245 shares during the period. Finally, Operose Advisors LLC boosted its holdings in Credo Technology Group by 69.2% in the first quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after acquiring an additional 252 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Credo Technology Group
In other news, Director Manpreet Khaira sold 5,000 shares of the business’s stock in a transaction on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Yat Tung Lam sold 80,000 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $169.27, for a total transaction of $13,541,600.00. Following the completion of the transaction, the chief operating officer directly owned 770,000 shares in the company, valued at approximately $130,337,900. The trade was a 9.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 973,161 shares of company stock worth $149,011,579 in the last three months. 11.84% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
CRDO has been the subject of a number of analyst reports. Needham & Company LLC lifted their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Roth Capital restated a “buy” rating and issued a $170.00 target price on shares of Credo Technology Group in a report on Tuesday, September 30th. Finally, William Blair assumed coverage on Credo Technology Group in a report on Thursday, September 18th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.36.
View Our Latest Research Report on Credo Technology Group
Credo Technology Group Stock Performance
Shares of Credo Technology Group stock opened at $163.61 on Friday. 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. The stock’s 50-day simple moving average is $151.97 and its 200 day simple moving average is $108.53.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 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 analysts’ expectations of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business’s quarterly revenue was up 273.6% compared to the same quarter last year. 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. Equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.
About Credo Technology Group
(Free Report)
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.
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