Credo Technology Group Holding Ltd. $CRDO Shares Purchased by Berkshire Capital Holdings Inc.

Berkshire Capital Holdings Inc. lifted its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 902,300.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,240 shares of the company’s stock after purchasing an additional 90,230 shares during the quarter. Credo Technology Group comprises about 2.9% of Berkshire Capital Holdings Inc.’s portfolio, making the stock its 17th largest holding. Berkshire Capital Holdings Inc. owned about 0.05% of Credo Technology Group worth $8,355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Credo Technology Group during the second quarter worth $27,000. Wolff Wiese Magana LLC raised its stake in Credo Technology Group by 200.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 450 shares of the company’s stock worth $42,000 after acquiring an additional 300 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Credo Technology Group by 278.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 473 shares of the company’s stock worth $44,000 after acquiring an additional 348 shares during the period. EverSource Wealth Advisors LLC grew its stake in Credo Technology Group by 198.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after purchasing an additional 333 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Credo Technology Group in the first quarter valued at about $25,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $157.98 on Thursday. The stock has a market capitalization of $28.54 billion, a price-to-earnings ratio of 138.58 and a beta of 2.63. The firm’s 50 day simple moving average is $156.63 and its 200-day simple moving average is $126.01. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Monday, December 1st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.18. The firm had revenue of $268.03 million during the quarter, compared to analysts’ expectations of $234.99 million. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The business’s revenue was up 272.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. Analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daniel W. Fleming sold 112,580 shares of Credo Technology Group stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total value of $15,558,556.00. Following the completion of the transaction, the chief financial officer owned 458,678 shares in the company, valued at $63,389,299.60. The trade was a 19.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $148.08, for a total value of $8,144,400.00. Following the completion of the transaction, the chief technology officer directly owned 6,778,961 shares of the company’s stock, valued at $1,003,828,544.88. The trade was a 0.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 961,246 shares of company stock worth $149,004,408. Company insiders own 11.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRDO. Mizuho lifted their target price on Credo Technology Group from $165.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Susquehanna lifted their price objective on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. TD Cowen upped their price objective on shares of Credo Technology Group from $190.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Credo Technology Group in a research note on Monday. Finally, Barclays raised their target price on shares of Credo Technology Group from $165.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group presently has a consensus rating of “Buy” and an average target price of $206.85.

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.