Credo Technology Group Holding Ltd. $CRDO Stock Position Increased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. increased its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 403.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,537 shares of the company’s stock after buying an additional 54,129 shares during the period. Jefferies Financial Group Inc.’s holdings in Credo Technology Group were worth $13,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in Credo Technology Group in the 2nd quarter worth $27,000. Hoey Investments Inc. acquired a new position in Credo Technology Group during the 3rd quarter worth $31,000. Burkett Financial Services LLC bought a new stake in Credo Technology Group during the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Credo Technology Group by 4,900.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 196 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in Credo Technology Group during the third quarter valued at about $40,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Credo Technology Group

In related news, COO Yat Lam sold 50,000 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $206.30, for a total value of $10,315,000.00. Following the completion of the sale, the chief operating officer owned 2,479,169 shares in the company, valued at approximately $511,452,564.70. This trade represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Brennan sold 16,672 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $151.88, for a total transaction of $2,532,143.36. Following the completion of the sale, the chief executive officer owned 1,600,830 shares of the company’s stock, valued at approximately $243,134,060.40. The trade was a 1.03% 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. In the last 90 days, insiders have sold 352,538 shares of company stock worth $67,200,077. 9.06% of the stock is currently owned by company insiders.

Credo Technology Group Trading Up 8.9%

Shares of CRDO stock opened at $141.41 on Thursday. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67. The firm’s fifty day simple moving average is $173.44 and its 200 day simple moving average is $180.27. The firm has a market capitalization of $26.58 billion, a P/E ratio of 50.32, a price-to-earnings-growth ratio of 0.52 and a beta of 3.29.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating 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 firm had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $473.30 million. During the same period in the prior year, the company earned $0.52 EPS. The business’s quarterly revenue was up 114.7% compared to the same quarter last year. Equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRDO. JPMorgan Chase & Co. lowered their price target on Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 2nd. Wall Street Zen cut Credo Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. TD Cowen increased their target price on Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Evercore set a $292.00 target price on Credo Technology Group in a research note on Wednesday, September 2nd. Finally, Susquehanna raised their target price on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

Top Credo Technology Group Stories

These are some of the CRDO stories 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
• Neutral Sentiment: Credo scheduled a conference call for December 1 to discuss fiscal second-quarter results. The announcement provides a date for the next financial update but did not include new results. Credo Schedules Second Quarter Fiscal Year 2027 Financial Results Conference Call

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.