Captrust Financial Advisors Has $3.03 Million Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Captrust Financial Advisors increased its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 24.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,257 shares of the company’s stock after purchasing an additional 19,397 shares during the period. Captrust Financial Advisors owned approximately 0.06% of Credo Technology Group worth $3,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRDO. Price T Rowe Associates Inc. MD boosted its stake in Credo Technology Group by 10.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,997 shares of the company’s stock worth $1,484,000 after purchasing an additional 6,813 shares during the period. California State Teachers Retirement System lifted its position in Credo Technology Group by 7.7% during the 1st quarter. California State Teachers Retirement System now owns 128,795 shares of the company’s stock worth $2,729,000 after buying an additional 9,218 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in Credo Technology Group during the 2nd quarter worth about $392,000. CWM LLC lifted its position in Credo Technology Group by 78.1% during the 2nd quarter. CWM LLC now owns 1,355 shares of the company’s stock worth $43,000 after buying an additional 594 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Credo Technology Group in the 2nd quarter valued at about $1,908,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Credo Technology Group

In other news, insider James Laufman sold 20,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.36, for a total transaction of $627,200.00. Following the completion of the transaction, the insider now owns 302,466 shares of the company’s stock, valued at approximately $9,485,333.76. This trade represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Joseph Brennan sold 143,880 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $25.75, for a total transaction of $3,704,910.00. Following the transaction, the chief executive officer now directly owns 2,529,738 shares of the company’s stock, valued at $65,140,753.50. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,337,321 shares of company stock worth $45,067,180 over the last quarter. Corporate insiders own 16.04% of the company’s stock.

Wall Street Analysts Forecast Growth

CRDO has been the topic of a number of research analyst reports. TD Cowen upped their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $31.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Mizuho increased their price target on shares of Credo Technology Group from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America raised shares of Credo Technology Group from an “underperform” rating to a “buy” rating and increased their price target for the company from $27.00 to $80.00 in a report on Tuesday. Finally, Needham & Company LLC increased their price target on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $67.33.

Credo Technology Group Stock Down 2.4 %

Shares of NASDAQ:CRDO opened at $69.01 on Thursday. The company’s 50 day moving average price is $41.20 and its two-hundred day moving average price is $32.98. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $75.30. The firm has a market cap of $11.46 billion, a PE ratio of -460.07 and a beta of 2.26.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $59.71 million for the quarter, compared to analyst estimates of $59.50 million. Credo Technology Group had a negative return on equity of 2.97% and a negative net margin of 9.70%. On average, research analysts expect that Credo Technology Group Holding Ltd will post -0.02 EPS for the current year.

About Credo Technology Group

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.