Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Bought by Captrust Financial Advisors

Captrust Financial Advisors lifted its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 24.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,257 shares of the company's stock after purchasing an additional 19,397 shares during the period. Captrust Financial Advisors owned about 0.06% of Credo Technology Group worth $3,026,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in CRDO. Allworth Financial LP lifted its stake in Credo Technology Group by 917.9% in the 3rd quarter. Allworth Financial LP now owns 855 shares of the company's stock worth $26,000 after acquiring an additional 771 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $29,000. Rakuten Securities Inc. bought a new position in Credo Technology Group during the third quarter worth about $30,000. Fifth Third Bancorp increased its position in shares of Credo Technology Group by 59.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,074 shares of the company's stock worth $34,000 after purchasing an additional 400 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Credo Technology Group by 695.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company's stock valued at $35,000 after purchasing an additional 1,001 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

Credo Technology Group Trading Up 2.3 %

CRDO traded up $1.61 during trading on Thursday, reaching $70.62. 4,149,406 shares of the company traded hands, compared to its average volume of 2,377,576. The firm has a fifty day simple moving average of $41.20 and a 200 day simple moving average of $32.98. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $75.30.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). The firm had revenue of $59.71 million for the quarter, compared to the consensus estimate of $59.50 million. Credo Technology Group had a negative net margin of 9.70% and a negative return on equity of 2.97%. On average, equities analysts expect that Credo Technology Group Holding Ltd will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 12,504 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $48.48, for a total value of $606,193.92. Following the transaction, the chief financial officer now directly owns 656,456 shares in the company, valued at approximately $31,824,986.88. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $48.57, for a total transaction of $2,671,350.00. Following the sale, the chief technology officer now owns 8,618,602 shares in the company, valued at approximately $418,605,499.14. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,337,321 shares of company stock valued at $45,067,180. Company insiders own 16.04% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Credo Technology Group from $31.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday. Roth Mkm boosted their price objective on Credo Technology Group from $35.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Craig Hallum upped their target price on Credo Technology Group from $38.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday. TD Cowen increased their price target on Credo Technology Group from $45.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Barclays increased their price target on Credo Technology Group from $32.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $67.33.

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.