4,633 Shares in Credo Technology Group Holding Ltd. $CRDO Bought by Intrua Financial LLC

Intrua Financial LLC purchased a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,633 shares of the company’s stock, valued at approximately $902,000.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Credo Technology Group by 2.6% in the third quarter. GAMMA Investing LLC now owns 1,986 shares of the company’s stock worth $387,000 after purchasing an additional 51 shares during the last quarter. City Center Advisors LLC raised its holdings in Credo Technology Group by 2.1% during the 2nd quarter. City Center Advisors LLC now owns 2,595 shares of the company’s stock worth $706,000 after purchasing an additional 53 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Credo Technology Group by 8.0% during the 2nd quarter. Versant Capital Management Inc now owns 755 shares of the company’s stock valued at $205,000 after purchasing an additional 56 shares in the last quarter. Prentice Wealth Management LLC increased its stake in shares of Credo Technology Group by 7.5% in the 3rd quarter. Prentice Wealth Management LLC now owns 1,038 shares of the company’s stock valued at $202,000 after acquiring an additional 72 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Credo Technology Group by 28.1% during the third quarter. TD Waterhouse Canada Inc. now owns 337 shares of the company’s stock valued at $71,000 after purchasing an additional 74 shares during the period. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $150.99 on Monday. The stock has a market cap of $28.38 billion, a PE ratio of 53.73, a P/E/G ratio of 0.60 and a beta of 3.29. The business’s 50-day simple moving average is $188.40 and its two-hundred day simple moving average is $180.84. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $473.30 million. During the same period last year, the company earned $0.52 earnings per share. Credo Technology Group’s revenue was up 114.7% on a year-over-year basis. Sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Credo Technology Group news, COO Yat Lam sold 50,000 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $206.30, for a total value of $10,315,000.00. Following the completion of the transaction, the chief operating officer directly owned 2,479,169 shares in the company, valued at approximately $511,452,564.70. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Cheng sold 27,500 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $193.93, for a total transaction of $5,333,075.00. Following the sale, the chief technology officer directly owned 5,662,397 shares of the company’s stock, valued at $1,098,108,650.21. The trade was a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 352,538 shares of company stock worth $67,200,077 in the last three months. Corporate insiders own 9.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CRDO shares. Mizuho decreased their target price on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, September 21st. Evercore set a $292.00 target price on shares of Credo Technology Group in a research report on Wednesday, September 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $235.00 target price on shares of Credo Technology Group in a report on Thursday, October 15th. Weiss Ratings downgraded Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Finally, Barclays lifted their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

About Credo Technology Group

Credo Technology Group Holding Ltd. is a fabless semiconductor and connectivity solutions company that develops high-speed data-infrastructure technologies. Its products are designed to help data centers and communications networks move large volumes of information with lower power consumption and improved signal integrity.

The company’s portfolio includes serializer/deserializer (SerDes) intellectual property, application-specific integrated circuits, active electrical cables, optical digital signal processors and related connectivity platforms.