Banque Cantonale Vaudoise Lowers Holdings in Credo Technology Group Holding Ltd. $CRDO

Banque Cantonale Vaudoise lowered its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 52.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,237 shares of the company’s stock after selling 8,921 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Credo Technology Group were worth $1,199,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CRDO. Savant Capital LLC increased its position in Credo Technology Group by 0.7% during the 3rd quarter. Savant Capital LLC now owns 9,914 shares of the company’s stock valued at $1,444,000 after purchasing an additional 68 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Credo Technology Group by 0.6% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company’s stock worth $2,298,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc lifted its position in shares of Credo Technology Group by 18.0% in the 3rd quarter. Versant Capital Management Inc now owns 663 shares of the company’s stock worth $97,000 after purchasing an additional 101 shares during the period. GAMMA Investing LLC boosted its stake in shares of Credo Technology Group by 6.7% during the third quarter. GAMMA Investing LLC now owns 1,891 shares of the company’s stock valued at $275,000 after purchasing an additional 118 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Credo Technology Group by 28.3% during the third quarter. EverSource Wealth Advisors LLC now owns 643 shares of the company’s stock valued at $94,000 after buying an additional 142 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Credo Technology Group news, Director Sylvia Acevedo sold 2,200 shares of the firm’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $159.18, for a total value of $350,196.00. Following the completion of the transaction, the director owned 18,545 shares of the company’s stock, valued at approximately $2,951,993.10. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Joseph Brennan sold 18,016 shares of Credo Technology Group stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $127.69, for a total transaction of $2,300,463.04. Following the sale, the chief executive officer owned 252,625 shares of the company’s stock, valued at $32,257,686.25. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 423,085 shares of company stock worth $59,514,322 over the last ninety days. Company insiders own 11.84% of the company’s stock.

Credo Technology Group Trading Up 3.2%

Shares of CRDO opened at $115.91 on Thursday. The firm has a market cap of $21.38 billion, a PE ratio of 64.39 and a beta of 2.67. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $213.80. The stock has a fifty day moving average price of $127.91 and a 200-day moving average price of $143.24.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The company had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. During the same period in the prior year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 201.5% compared to the same quarter last year. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

CRDO has been the subject of a number of analyst reports. New Street Research set a $240.00 target price on Credo Technology Group in a report on Tuesday, December 2nd. Wolfe Research set a $240.00 price target on Credo Technology Group in a research report on Tuesday, December 2nd. Susquehanna decreased their price objective on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research note on Tuesday, March 3rd. Roth Mkm dropped their price objective on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, Craig Hallum reiterated a “buy” rating and issued a $200.00 target price on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $206.33.

Credo Technology Group Company Profile

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.