Emerald Mutual Fund Advisers Trust Sells 244,995 Shares of Credo Technology Group Holding Ltd. $CRDO

Emerald Mutual Fund Advisers Trust lessened its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 32.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 503,856 shares of the company’s stock after selling 244,995 shares during the quarter. Credo Technology Group accounts for approximately 2.8% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 2nd largest holding. Emerald Mutual Fund Advisers Trust’s holdings in Credo Technology Group were worth $46,652,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Operose Advisors LLC lifted its position in shares of 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 position in shares of Credo Technology Group during the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $27,000. Harbour Investments Inc. bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $29,000. Finally, Virtus Advisers LLC bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CRDO shares. Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. 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. Barclays restated an “overweight” rating and set a $165.00 target price on shares of Credo Technology Group in a research report on Tuesday, October 7th. Finally, Susquehanna lifted their price objective on Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $140.36.

Insider Activity at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $156.32, for a total transaction of $8,597,600.00. Following the completion of the sale, the chief technology officer owned 6,668,961 shares in the company, valued at $1,042,491,983.52. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Yat Tung Lam sold 70,000 shares of the business’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $137.49, for a total value of $9,624,300.00. Following the sale, the chief operating officer owned 850,000 shares of the company’s stock, valued at approximately $116,866,500. The trade was a 7.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,076,589 shares of company stock valued at $150,554,763 over the last quarter. 11.84% of the stock is currently owned by corporate insiders.

Credo Technology Group Stock Performance

Shares of CRDO opened at $171.52 on Thursday. The stock has a fifty day moving average price of $144.76 and a two-hundred day moving average price of $101.97. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $176.70. The company has a market cap of $29.67 billion, a price-to-earnings ratio of 256.00 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) 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 business had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. During the same quarter in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal 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.