Credo Technology Group Holding Ltd. $CRDO Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 31.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,265 shares of the company’s stock after buying an additional 7,166 shares during the period. Kestra Advisory Services LLC’s holdings in Credo Technology Group were worth $5,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRDO. Bank of America Corp DE lifted its stake in Credo Technology Group by 13.7% in the second quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock valued at $593,603,000 after acquiring an additional 262,479 shares during the last quarter. Atreides Management LP raised its holdings in shares of Credo Technology Group by 3.5% during the 2nd quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock valued at $307,109,000 after purchasing an additional 38,052 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Credo Technology Group by 192.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock valued at $98,290,000 after purchasing an additional 688,596 shares in the last quarter. Value Aligned Research Advisors LLC bought a new position in shares of Credo Technology Group during the 2nd quarter valued at $91,919,000. Finally, Zevenbergen Capital Investments LLC lifted its stake in shares of Credo Technology Group by 4.9% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 418,991 shares of the company’s stock valued at $81,615,000 after purchasing an additional 19,685 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Buying and Selling at Credo Technology Group

In related news, CTO Chi Cheng sold 27,500 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $164.12, for a total transaction of $4,513,300.00. Following the transaction, the chief technology officer directly owned 5,552,397 shares in the company, valued at $911,259,395.64. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Fleming sold 7,580 shares of the company’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $212.91, for a total value of $1,613,857.80. Following the completion of the transaction, the chief financial officer directly owned 492,208 shares of the company’s stock, valued at approximately $104,796,005.28. This trade represents a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 352,538 shares of company stock valued at $67,200,077 over the last quarter. Company insiders own 9.06% of the company’s stock.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $141.41 on Thursday. The company has a market cap of $26.58 billion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 0.52 and a beta of 3.29. The firm has a fifty day moving average price of $173.44 and a two-hundred day moving average price of $180.27. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The company had revenue of $479.00 million for the quarter, compared to the consensus estimate of $473.30 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue was up 114.7% compared to the same quarter last year. Analysts expect that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current fiscal year.

Key Headlines Impacting Credo Technology Group

These are some of the CRDO headlines that stood out recently:

• Positive Sentiment: Credo forecast October-quarter revenue of $525 million to $535 million, following 115% year-over-year growth in the previous quarter. The upbeat outlook helped support the stock as AI-connectivity names rallied. Credo Technology Stocks Climb 10.8% as AI Connectivity Names Rally
• Positive Sentiment: A separate analysis noted that Credo’s revenue has more than doubled, analysts have continued raising earnings estimates, and the company has a streak of quarterly earnings beats. Those factors suggest investors may be looking beyond the recent share-price weakness toward future growth. Prediction: The AI Stock Wall Street Could Be Underestimating for 2027
• Negative Sentiment: Credo and other AI data-center stocks had fallen in the prior week amid concerns tied to the political climate and potential effects on data-center investment. The report said Credo had no company-specific bad news and its quarterly guidance remained intact, but sector-wide uncertainty remains a risk. Credo and Lumentum Sink 14% in a Week as Democrats’ Sweep Hits AI Data Centers

Wall Street Analyst Weigh In

CRDO has been the subject of a number of recent research reports. Barclays upped their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. TD Cowen increased their target price on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Bank of America cut their target price on Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, September 2nd. Susquehanna boosted their price target on Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Finally, Evercore set a $292.00 price target on Credo Technology Group in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.67.

Credo Technology Group Profile

Credo Technology Group designs and supplies high-speed connectivity solutions for data infrastructure, including data centers and networking systems. Its products help move data between processors, servers, switches and other equipment used in demanding, high-bandwidth environments. The company’s offerings include active electrical cables, semiconductor and optical digital signal processing products, retimers, and other connectivity components. These solutions are used in applications such as cloud computing and artificial intelligence infrastructure.