Range Financial Group LLC Makes New Investment in Credo Technology Group Holding Ltd. $CRDO

Range Financial Group LLC purchased a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the third quarter, according to its most recent filing with the SEC. The firm purchased 12,647 shares of the company’s stock, valued at approximately $1,842,000.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in Credo Technology Group by 6.7% in the 3rd 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. Nisa Investment Advisors LLC grew its holdings in Credo Technology Group by 3.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company’s stock valued at $341,000 after purchasing an additional 126 shares during the last quarter. Blue Trust Inc. increased its position in shares of Credo Technology Group by 3.9% in the second quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock valued at $380,000 after buying an additional 154 shares in the last quarter. Signaturefd LLC increased its position in shares of Credo Technology Group by 32.4% in the second quarter. Signaturefd LLC now owns 703 shares of the company’s stock valued at $65,000 after buying an additional 172 shares in the last quarter. Finally, Main Management ETF Advisors LLC raised its stake in shares of Credo Technology Group by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the company’s stock worth $1,086,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of research reports. New Street Research set a $240.00 price objective on shares of Credo Technology Group in a research note on Tuesday, December 2nd. Stifel Nicolaus set a $160.00 price target on shares of Credo Technology Group in a report on Wednesday, October 1st. Barclays raised their price objective on shares of Credo Technology Group from $165.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Finally, Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $206.85.

Credo Technology Group Stock Performance

Shares of CRDO opened at $144.70 on Tuesday. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $213.80. The company’s 50 day simple moving average is $157.26 and its 200 day simple moving average is $133.49. The company has a market capitalization of $26.14 billion, a price-to-earnings ratio of 126.93 and a beta of 2.63.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, December 1st. The company reported $0.67 earnings per share 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 company had revenue of $268.03 million for the quarter, compared to analyst estimates of $234.99 million. During the same quarter in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 272.1% compared to the same quarter last year. Equities analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, Director Sylvia Acevedo sold 1,875 shares of Credo Technology Group stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $185.17, for a total value of $347,193.75. Following the completion of the sale, the director owned 21,098 shares in the company, valued at $3,906,716.66. The trade was a 8.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Joseph Brennan sold 18,016 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $153.16, for a total transaction of $2,759,330.56. Following the transaction, the chief executive officer directly owned 301,891 shares of the company’s stock, valued at approximately $46,237,625.56. This represents a 5.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,266,246 shares of company stock worth $192,865,933 in the last quarter. 11.84% of the stock is currently owned by corporate insiders.

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.