Russell Investments Group Ltd. raised its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO – Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,370 shares of the company’s stock after buying an additional 19,105 shares during the period. Russell Investments Group Ltd. owned about 0.22% of Credo Technology Group worth $7,551,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Ulland Investment Advisors LLC acquired a new stake in shares of Credo Technology Group during the 1st quarter worth about $29,000. Banque Cantonale Vaudoise purchased a new stake in shares of Credo Technology Group during the 1st quarter worth approximately $97,000. Assetmark Inc. lifted its position in shares of Credo Technology Group by 30.1% during the 4th quarter. Assetmark Inc. now owns 5,460 shares of the company’s stock worth $106,000 after buying an additional 1,263 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Credo Technology Group in the 1st quarter valued at $276,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Credo Technology Group in the 1st quarter valued at $319,000. 80.46% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Credo Technology Group news, Director Lip Bu Tan sold 245,438 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $32.67, for a total transaction of $8,018,459.46. Following the transaction, the director now owns 2,863,725 shares in the company, valued at approximately $93,557,895.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $17.41, for a total value of $957,550.00. Following the completion of the transaction, the chief technology officer now owns 9,773,602 shares in the company, valued at approximately $170,158,410.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lip Bu Tan sold 245,438 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $32.67, for a total transaction of $8,018,459.46. Following the sale, the director now directly owns 2,863,725 shares in the company, valued at approximately $93,557,895.75. The disclosure for this sale can be found here. Insiders sold 881,678 shares of company stock valued at $24,491,344 over the last ninety days. Corporate insiders own 23.89% of the company’s stock.
Credo Technology Group Price Performance
Credo Technology Group stock opened at $29.50 on Friday. The business has a 50 day simple moving average of $26.76 and a 200-day simple moving average of $22.58. Credo Technology Group Holding Ltd has a 12 month low of $13.38 and a 12 month high of $33.96. The stock has a market capitalization of $4.87 billion, a PE ratio of -163.89 and a beta of 2.24.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Credo Technology Group had a negative return on equity of 4.51% and a negative net margin of 14.70%. The firm had revenue of $60.78 million for the quarter, compared to analysts’ expectations of $60.50 million. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd will post 0.07 EPS for the current year.
Wall Street Analyst Weigh In
CRDO has been the subject of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Credo Technology Group from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday. Craig Hallum upped their target price on Credo Technology Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Barclays raised their price target on Credo Technology Group from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. TD Cowen boosted their price objective on Credo Technology Group from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC raised their target price on shares of Credo Technology Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Credo Technology Group presently has an average rating of “Moderate Buy” and a consensus price target of $30.38.
View Our Latest Analysis on CRDO
Credo Technology Group Company Profile
Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.
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