Charles Schwab Investment Management Inc. Buys 95,335 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Charles Schwab Investment Management Inc. boosted its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,136,557 shares of the company's stock after buying an additional 95,335 shares during the period. Charles Schwab Investment Management Inc. owned about 0.68% of Credo Technology Group worth $35,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Credo Technology Group by 10.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,997 shares of the company's stock valued at $1,484,000 after buying an additional 6,813 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Credo Technology Group by 7.7% in the first quarter. California State Teachers Retirement System now owns 128,795 shares of the company's stock valued at $2,729,000 after purchasing an additional 9,218 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Credo Technology Group by 319.8% during the second quarter. Harbor Capital Advisors Inc. now owns 31,383 shares of the company's stock worth $1,002,000 after purchasing an additional 23,907 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Credo Technology Group during the second quarter worth $392,000. Finally, CWM LLC boosted its holdings in Credo Technology Group by 78.1% in the second quarter. CWM LLC now owns 1,355 shares of the company's stock valued at $43,000 after acquiring an additional 594 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Transactions at Credo Technology Group

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRDO. Needham & Company LLC increased their target price on Credo Technology Group from $43.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday. TD Cowen raised their price target on Credo Technology Group from $45.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday. Craig Hallum raised their price target on Credo Technology Group from $38.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays raised their price target on Credo Technology Group from $32.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Credo Technology Group from $31.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Credo Technology Group has a consensus rating of "Buy" and an average target price of $67.33.

Credo Technology Group Trading Down 2.4 %

NASDAQ CRDO traded down $1.68 during midday trading on Wednesday, hitting $69.01. The company had a trading volume of 7,509,154 shares, compared to its average volume of 2,368,819. The company has a market capitalization of $11.46 billion, a PE ratio of -471.27 and a beta of 2.26. The firm has a 50-day moving average price of $40.42 and a 200-day moving average price of $32.73. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $75.30.

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

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.