Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 34.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 300,114 shares of the company's stock after selling 158,476 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.18% of Credo Technology Group worth $9,244,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRDO. Vanguard Group Inc. grew its stake in shares of Credo Technology Group by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 15,063,781 shares of the company's stock valued at $319,202,000 after purchasing an additional 1,072,301 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Credo Technology Group by 3.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,791,392 shares of the company's stock valued at $121,097,000 after purchasing an additional 115,271 shares during the period. Swedbank AB grew its stake in shares of Credo Technology Group by 873.9% during the 3rd quarter. Swedbank AB now owns 3,300,314 shares of the company's stock valued at $101,650,000 after purchasing an additional 2,961,454 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Credo Technology Group by 9.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,431,433 shares of the company's stock valued at $77,660,000 after purchasing an additional 203,739 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Credo Technology Group by 13.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,112,656 shares of the company's stock valued at $67,473,000 after purchasing an additional 242,428 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRDO shares. The Goldman Sachs Group boosted their price target on Credo Technology Group from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Needham & Company LLC lifted their price objective on Credo Technology Group from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, September 5th. Bank of America lifted their price objective on Credo Technology Group from $25.00 to $27.00 and gave the company an "underperform" rating in a research report on Thursday, September 5th. Barclays lifted their price objective on Credo Technology Group from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Thursday, September 5th. Finally, Mizuho lifted their price objective on Credo Technology Group from $35.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.56.

Insider Buying and Selling at Credo Technology Group

In other news, COO Yat Tung Lam sold 10,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $27.69, for a total value of $276,900.00. Following the transaction, the chief operating officer now directly owns 2,885,840 shares of the company's stock, valued at approximately $79,908,909.60. This represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.37, for a total value of $2,605,350.00. Following the completion of the transaction, the chief technology officer now directly owns 8,728,602 shares in the company, valued at $413,473,876.74. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,324,817 shares of company stock worth $43,552,936. 16.04% of the stock is owned by insiders.

Credo Technology Group Stock Performance

Credo Technology Group stock traded down $0.44 during mid-day trading on Friday, hitting $45.84. The company's stock had a trading volume of 2,132,902 shares, compared to its average volume of 2,255,258. The company has a 50 day moving average of $37.02 and a 200-day moving average of $30.75. The stock has a market cap of $7.61 billion, a PE ratio of -288.63 and a beta of 2.19. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $48.94.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $59.71 million during the quarter, compared to analysts' expectations of $59.50 million. Credo Technology Group had a negative return on equity of 3.74% and a negative net margin of 12.05%. On average, equities research analysts forecast that Credo Technology Group Holding Ltd will post -0.02 EPS for the current fiscal 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.