Principal Financial Group Inc. Grows Stock Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Principal Financial Group Inc. lifted its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Rating) by 20.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,534,560 shares of the company’s stock after buying an additional 261,845 shares during the period. Principal Financial Group Inc. owned approximately 1.06% of Credo Technology Group worth $17,924,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada purchased a new position in shares of Credo Technology Group in the first quarter worth about $26,000. Ameritas Investment Partners Inc. purchased a new position in Credo Technology Group during the 1st quarter valued at about $26,000. UBS Group AG purchased a new position in Credo Technology Group during the 1st quarter valued at about $69,000. Bank of America Corp DE purchased a new position in Credo Technology Group during the 1st quarter valued at about $135,000. Finally, California State Teachers Retirement System purchased a new position in Credo Technology Group during the 1st quarter valued at about $143,000. Hedge funds and other institutional investors own 22.64% of the company’s stock.

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 56,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $15.01, for a total transaction of $844,312.50. Following the transaction, the chief financial officer now owns 543,825 shares in the company, valued at approximately $8,162,813.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Credo Technology Group news, Director Lip Bu Tan sold 550,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $11.62, for a total transaction of $6,391,000.00. Following the transaction, the director now owns 1,200,000 shares in the company, valued at approximately $13,944,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel W. Fleming sold 56,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $15.01, for a total value of $844,312.50. Following the transaction, the chief financial officer now owns 543,825 shares in the company, valued at approximately $8,162,813.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,000,882 shares of company stock worth $12,277,097. Company insiders own 34.20% of the company’s stock.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $14.48 on Wednesday. Credo Technology Group Holding Ltd has a 1 year low of $8.61 and a 1 year high of $18.00. The stock’s 50-day moving average is $12.50 and its 200 day moving average is $12.54.

Credo Technology Group (NASDAQ:CRDOGet Rating) last announced its quarterly earnings results on Wednesday, August 31st. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $46.47 million for the quarter, compared to analysts’ expectations of $45.70 million. The business’s revenue was up 333.3% on a year-over-year basis. As a group, analysts forecast that Credo Technology Group Holding Ltd will post 0.16 EPS for the current fiscal year.

Credo Technology Group Company Profile

(Get Rating)

Credo 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 integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.

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Institutional Ownership by Quarter for Credo Technology Group (NASDAQ:CRDO)

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