Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Bought by Strs Ohio

Strs Ohio raised its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,700 shares of the company’s stock after acquiring an additional 3,000 shares during the quarter. Strs Ohio’s holdings in Credo Technology Group were worth $519,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRDO. Carnegie Capital Asset Management LLC increased its position in shares of Credo Technology Group by 19.4% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 293,470 shares of the company’s stock valued at $5,714,000 after buying an additional 47,650 shares in the last quarter. Moody Aldrich Partners LLC increased its position in shares of Credo Technology Group by 67.8% in the fourth quarter. Moody Aldrich Partners LLC now owns 202,707 shares of the company’s stock valued at $3,947,000 after buying an additional 81,904 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Credo Technology Group in the fourth quarter valued at $4,361,000. Diversified Trust Co increased its position in shares of Credo Technology Group by 31.8% in the fourth quarter. Diversified Trust Co now owns 25,691 shares of the company’s stock valued at $500,000 after buying an additional 6,196 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Credo Technology Group by 31.3% in the third quarter. Vanguard Group Inc. now owns 12,570,816 shares of the company’s stock valued at $191,705,000 after buying an additional 2,993,303 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CRDO shares. TD Cowen raised their price target on Credo Technology Group from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group raised their price target on Credo Technology Group from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Craig Hallum lifted their price objective on Credo Technology Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Mizuho reiterated a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of Credo Technology Group in a research report on Wednesday, February 28th. Finally, Needham & Company LLC lifted their price objective on Credo Technology Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.25.

Insiders Place Their Bets

In other Credo Technology Group news, CTO Chi Fung Cheng sold 60,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.43, for a total value of $1,225,800.00. Following the sale, the chief technology officer now directly owns 10,588,602 shares of the company’s stock, valued at approximately $216,325,138.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CTO Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.43, for a total value of $1,225,800.00. Following the transaction, the chief technology officer now directly owns 10,588,602 shares of the company’s stock, valued at approximately $216,325,138.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Joseph Brennan sold 15,000 shares of Credo Technology Group stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $19.16, for a total value of $287,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,992,500 shares in the company, valued at $57,336,300. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,796,335 shares of company stock valued at $39,371,834. Insiders own 23.89% of the company’s stock.

Credo Technology Group Trading Up 2.1 %

Shares of NASDAQ:CRDO opened at $18.56 on Friday. The stock’s 50-day moving average price is $20.83 and its two-hundred day moving average price is $19.25. Credo Technology Group Holding Ltd has a 12-month low of $7.20 and a 12-month high of $23.90. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -80.70 and a beta of 1.97.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Credo Technology Group had a negative return on equity of 7.82% and a negative net margin of 20.59%. The firm had revenue of $53.06 million for the quarter, compared to analyst estimates of $51.91 million. During the same period last year, the company earned $0.02 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts forecast that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current fiscal year.

About Credo Technology Group

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.