Royce & Associates LP purchased new shares of Credo Technology Group Holding Ltd (NASDAQ: CRDO – Get Rating) during the third quarter, according to a recent Form 13F filing with the SEC. Institutional investors purchased 108,000 shares of the company’s stock, worth approximately $1,188,000. At the end of the most recent reporting period, Royce & Associates LP owned approximately 0.07% of Credo Technology Group.
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Other large investors have also adjusted their positions at the company. RBC acquired a new stake in Credo Technology Group in the first quarter, valued at approximately $26,000. Ameritas Investment Partners Inc. acquired a new stake in Credo Technology Group in the first quarter, valued at approximately $26,000. UBS Group AG acquired a new stake in Credo Technology Group in the first quarter, valued at approximately $69,000. Focused Wealth Management Inc acquired a new stake in Credo Technology Group in the third quarter, valued at approximately $53,000. Finally, Bank of America Corp DE acquired a new stake in Credo Technology Group in the first quarter, valued at approximately $135,000. Institutional investors and hedge funds own 40.46% of the company.
Credo Technology Group Share Performance
Credo Technology Group shares opened Thursday at $17.46. The company has a market capitalization of $2.56 billion and a P/E ratio of -291.00. The company’s 50-day moving average is $14.12 and its 200-day moving average is $13.42. Credo Technology Group Holding Ltd had a twelve-month low of $8.61 and a twelve-month high of $18.00.
Credo Technology Group (NASDAQ: CRDO – Get Rating ) last reported quarterly earnings data on Wednesday, November 30th. The company reported EPS of $0.02 for the quarter, missing the consensus estimate of $0.03 ($0.01). The company’s revenue for the quarter was $51.37 million, compared with analyst estimates of $50.5 million. Credo Technology Group had a negative net profit margin of 5.34% and a positive return on equity of 2.61%. Equity analysts expect Credo Technology Group Holding Ltd to post 0.03 EPS for the current fiscal year.
Wall Street analysts weigh in
Separately, Needham & Company LLC upped their target price on shares of Credo Technology Group from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 1st. Eight investment analysts have a buy rating on the stock, according to MarketBeat, the company has a consensus rating of “buy” and a consensus price target of $19.38.
insiders place bets
In other Credo Technology Group news, CEO William Joseph Brennan sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 18. These shares sold at an average price of $14.93 for a total value of $223,950.00. Following the sale, the CEO now directly owns 4,245,000 shares of company stock valued at $63,377,850. The transaction has been disclosed in a legal filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. In other Credo Technology Group news, CEO William Joseph Brennan sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 18. These shares sold at an average price of $14.93 for a total value of $223,950.00. Following the sale, the CEO now directly owns 4,245,000 shares of company stock valued at $63,377,850. The transaction has been disclosed in a legal filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. Additionally, Chief Technology Officer Chi Fung Cheng sold 40,000 shares of the company in a transaction that occurred on Thursday, January 5. The stock sold at an average price of $12.31 for a total transaction value of $492,400.00. Following the sale, the CTO now directly owns 11,383,602 shares of company stock, valued at $140,132,140.62. The disclosure for this sale can be found here. In the past 90 days, insiders sold 815,143 shares of the company’s stock worth $11,616,258. Company insiders own 34.20% of the company.
About Credo Technology Group
(get rating)
Credo Technology Group Holding Ltd provides a wide range of high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, China, Hong Kong and internationally. Its products include integrated circuits, active cables and SerDes chiplets based on its serializer/deserializer and digital signal processor technologies.
further reading
Want to see which other hedge funds own CRDO? Visit HoldingsChannel.com for the latest 13F filings and insider trades for Credo Technology Group Holding Ltd (NASDAQ: CRDO – Get Rated ).
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