Thompson Davis & CO. Inc. Makes New Investment in Credo Technology Group Holding Ltd. $CRDO

Thompson Davis & CO. Inc. purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,125 shares of the company’s stock, valued at approximately $382,000.

Several other institutional investors have also modified their holdings of CRDO. Calamos Advisors LLC grew its holdings in shares of Credo Technology Group by 159.2% during the second quarter. Calamos Advisors LLC now owns 45,022 shares of the company’s stock worth $4,169,000 after buying an additional 27,653 shares in the last quarter. Hudock Inc. raised its holdings in Credo Technology Group by 11.5% in the 2nd quarter. Hudock Inc. now owns 6,919 shares of the company’s stock valued at $641,000 after acquiring an additional 716 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Credo Technology Group by 8.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 33,113 shares of the company’s stock worth $3,066,000 after purchasing an additional 2,498 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Credo Technology Group by 4.7% in the second quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock valued at $334,740,000 after purchasing an additional 163,305 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in Credo Technology Group during the second quarter worth approximately $351,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Stock Performance

CRDO opened at $149.98 on Thursday. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $193.50. The stock has a market capitalization of $25.95 billion, a P/E ratio of 233.23 and a beta of 2.62. The business’s 50-day simple moving average is $154.31 and its 200-day simple moving average is $111.07.

Credo Technology Group (NASDAQ:CRDO) last released 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). 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 analysts’ expectations of $190.63 million. During the same quarter in the prior year, the business earned $0.04 EPS. The company’s quarterly revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRDO. Stifel Nicolaus set a $160.00 price objective on Credo Technology Group in a research report on Wednesday, October 1st. Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Mizuho boosted their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Roth Capital reissued a “buy” rating and issued a $170.00 price target on shares of Credo Technology Group in a research report on Tuesday, September 30th. Finally, Susquehanna increased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.36.

Insider Activity

In other news, CFO Daniel W. Fleming sold 112,580 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were 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 of the company’s stock, valued at approximately $63,389,299.60. This represents a 19.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $163.98, for a total transaction of $9,018,900.00. Following the sale, the chief technology officer owned 6,998,961 shares of the company’s stock, valued at $1,147,689,624.78. This trade represents a 0.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 973,161 shares of company stock valued at $149,011,579 in the last ninety days. 11.84% of the stock is currently owned by company insiders.

Credo Technology Group 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.