Credo Technology Group Holding Ltd. $CRDO Stake Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 2,588.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 247,735 shares of the company’s stock after purchasing an additional 238,519 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.14% of Credo Technology Group worth $36,073,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock worth $284,000 after purchasing an additional 3,972 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after acquiring an additional 589,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Credo Technology Group by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock valued at $12,480,000 after purchasing an additional 7,107 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $258,000. Finally, Signaturefd LLC boosted its position in Credo Technology Group by 32.4% during the 2nd quarter. Signaturefd LLC now owns 703 shares of the company’s stock valued at $65,000 after purchasing an additional 172 shares during the period. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $129.66 on Thursday. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $213.80. The stock has a fifty day moving average price of $150.77 and a two-hundred day moving average price of $141.46. The firm has a market cap of $23.42 billion, a P/E ratio of 113.74 and a beta of 2.66.

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

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $136.33, for a total value of $4,089,900.00. Following the transaction, the chief technology officer owned 6,327,370 shares in the company, valued at approximately $862,610,352.10. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William Joseph Brennan sold 9,476 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $139.54, for a total value of $1,322,281.04. Following the sale, the chief executive officer owned 270,641 shares of the company’s stock, valued at $37,765,245.14. This trade represents a 3.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 822,460 shares of company stock valued at $124,493,784 in the last ninety days. Company insiders own 11.84% of the company’s stock.

Analysts Set New Price Targets

CRDO has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research note on Monday, December 29th. Rosenblatt Securities began coverage on shares of Credo Technology Group in a research report on Wednesday, January 21st. They issued a “neutral” rating and a $170.00 price objective on the stock. Needham & Company LLC upped their target price on shares of Credo Technology Group from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. TD Cowen reiterated a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. assumed coverage on Credo Technology Group in a research report on Friday, October 17th. They issued an “overweight” rating and a $165.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Credo Technology Group has an average rating of “Buy” and a consensus price target of $216.54.

About Credo Technology Group

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.