Mediolanum International Funds Ltd cut its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Free Report) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,575 shares of the company’s stock after selling 2,467 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Credo Technology Group were worth $5,758,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CRDO. Vanguard Group Inc. boosted its position in shares of Credo Technology Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock worth $2,386,449,000 after purchasing an additional 59,849 shares during the last quarter. State Street Corp increased its holdings in Credo Technology Group by 23.4% in the fourth quarter. State Street Corp now owns 4,486,320 shares of the company’s stock valued at $645,537,000 after purchasing an additional 849,654 shares during the last quarter. Geode Capital Management LLC lifted its stake in Credo Technology Group by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock valued at $555,117,000 after buying an additional 184,676 shares during the period. Corient Private Wealth LLC lifted its stake in Credo Technology Group by 239,024.5% in the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after buying an additional 3,597,318 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after buying an additional 1,218,504 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.
Insider Transactions at Credo Technology Group
In related news, Director Fariba Danesh sold 1,100 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $236.34, for a total value of $259,974.00. Following the completion of the transaction, the director owned 7,017 shares of the company’s stock, valued at approximately $1,658,397.78. This trade represents a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sylvia Acevedo sold 2,208 shares of Credo Technology Group stock in a transaction on Friday, June 5th. The shares were sold at an average price of $211.00, for a total transaction of $465,888.00. Following the completion of the sale, the director owned 16,337 shares in the company, valued at $3,447,107. The trade was a 11.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 329,662 shares of company stock worth $76,068,196. 11.84% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on Credo Technology Group
Credo Technology Group Trading Up 4.6%
CRDO stock opened at $212.07 on Tuesday. The stock has a 50-day moving average price of $232.14 and a two-hundred day moving average price of $167.76. The stock has a market cap of $39.55 billion, a PE ratio of 85.51, a price-to-earnings-growth ratio of 0.93 and a beta of 3.20. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last issued its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The company had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company’s quarterly revenue was up 157.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. On average, analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.
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.
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