J. Safra Sarasin Holding AG Acquires Shares of 6,875 Credo Technology Group Holding Ltd. $CRDO

J. Safra Sarasin Holding AG bought a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,875 shares of the company’s stock, valued at approximately $645,000.

Several other large investors have also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Credo Technology Group by 16.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock valued at $80,000 after buying an additional 77 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Credo Technology Group by 1.7% during the 1st quarter. QRG Capital Management Inc. now owns 5,402 shares of the company’s stock valued at $507,000 after acquiring an additional 91 shares during the period. Mark Sheptoff Financial Planning LLC raised its holdings in Credo Technology Group by 2.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company’s stock valued at $741,000 after acquiring an additional 100 shares during the period. Spirepoint Private Client LLC lifted its position in shares of Credo Technology Group by 6.6% during the fourth quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company’s stock worth $243,000 after acquiring an additional 105 shares in the last quarter. Finally, Crewe Advisors LLC boosted its holdings in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In other news, Director Sylvia Acevedo sold 2,208 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $211.00, for a total value of $465,888.00. Following the transaction, the director owned 16,337 shares of the company’s stock, valued at $3,447,107. This represents a 11.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $259,974.00. Following the sale, the director owned 7,017 shares in the company, valued at approximately $1,658,397.78. This trade represents a 13.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 329,662 shares of company stock valued at $76,068,196. Company insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Down 4.0%

Credo Technology Group stock opened at $226.74 on Thursday. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67. The business has a 50-day simple moving average of $231.43 and a 200 day simple moving average of $166.44. The stock has a market cap of $42.28 billion, a price-to-earnings ratio of 91.43, a PEG ratio of 1.08 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. The firm had revenue of $437.00 million for the quarter, compared to analysts’ expectations 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 revenue was up 157.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. On average, research analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRDO shares. JPMorgan Chase & Co. lifted their price target on Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Needham & Company LLC raised their target price on Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Weiss Ratings raised Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Susquehanna increased their price target on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $263.11.

Credo Technology Group 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.