Credo Technology Group Holding Ltd. $CRDO Shares Sold by Left Brain Wealth Management LLC

Left Brain Wealth Management LLC decreased its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 37.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,321 shares of the company’s stock after selling 4,879 shares during the quarter. Left Brain Wealth Management LLC’s holdings in Credo Technology Group were worth $1,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Credo Technology Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock valued at $2,386,449,000 after acquiring an additional 59,849 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Credo Technology Group by 18.3% in the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock valued at $1,121,118,000 after acquiring an additional 1,190,522 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after acquiring an additional 1,218,504 shares during the last quarter. Bank of America Corp DE boosted its holdings in Credo Technology Group by 161.5% in the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after acquiring an additional 1,406,752 shares during the last quarter. Finally, Swedbank AB boosted its holdings in Credo Technology Group by 47.1% in the fourth quarter. Swedbank AB now owns 2,062,779 shares of the company’s stock valued at $296,813,000 after acquiring an additional 660,679 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 other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the transaction, the chief technology officer owned 6,272,370 shares in the company, valued at $737,630,712. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Joseph Brennan sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at approximately $209,764,835.36. This represents a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 386,608 shares of company stock worth $50,371,351. 11.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on CRDO shares. The Goldman Sachs Group lifted their target price on Credo Technology Group from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Rothschild & Co Redburn started coverage on Credo Technology Group in a report on Friday, May 1st. They issued a “buy” rating and a $206.00 target price on the stock. Susquehanna reduced their target price on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings cut Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Finally, Mizuho reduced their target price on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Credo Technology Group currently has an average rating of “Moderate Buy” and a consensus price target of $207.71.

Credo Technology Group Price Performance

Shares of CRDO opened at $172.17 on Friday. The stock’s 50-day moving average is $139.79 and its two-hundred day moving average is $142.52. The stock has a market cap of $31.76 billion, a PE ratio of 95.65 and a beta of 3.17. Credo Technology Group Holding Ltd. has a 12 month low of $57.21 and a 12 month high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million for the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm’s quarterly revenue was up 201.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, research analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current 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.