Credo Technology Group Holding Ltd. $CRDO Shares Bought by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC grew its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 12.7% during the first quarter, HoldingsChannel reports. The firm owned 111,621 shares of the company’s stock after buying an additional 12,616 shares during the period. Segall Bryant & Hamill LLC’s holdings in Credo Technology Group were worth $10,478,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRDO. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Credo Technology Group by 16.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock valued at $80,000 after purchasing an additional 77 shares during the period. QRG Capital Management Inc. increased its stake 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 worth $507,000 after buying an additional 91 shares during the period. Bank of Nova Scotia increased its stake in Credo Technology Group by 1.6% during the 1st quarter. Bank of Nova Scotia now owns 6,026 shares of the company’s stock worth $566,000 after buying an additional 92 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in Credo Technology Group by 2.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company’s stock worth $741,000 after buying an additional 100 shares in the last quarter. Finally, Spirepoint Private Client LLC boosted its position in Credo Technology Group by 6.6% in the 4th quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company’s stock valued at $243,000 after buying an additional 105 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRDO. The Goldman Sachs Group reaffirmed a “buy” rating and set a $250.00 target price on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Evercore started coverage on Credo Technology Group in a report on Monday, June 22nd. They issued an “outperform” rating and a $325.00 price target for the company. Roth Capital raised their price objective on Credo Technology Group from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. TD Cowen lifted their price objective on Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Susquehanna upped their target price on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $266.17.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $206.99 on Monday. The firm has a fifty day moving average of $236.60 and a two-hundred day moving average of $171.95. The firm has a market cap of $38.60 billion, a P/E ratio of 83.46, a P/E/G ratio of 0.95 and a beta of 3.23. 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) last issued its earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The business had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. During the same quarter in the prior year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 157.0% on a year-over-year basis. On average, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Insider Activity

In other news, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $205.54, for a total value of $5,652,350.00. Following the completion of the transaction, the chief technology officer owned 5,799,870 shares in the company, valued at approximately $1,192,105,279.80. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total value of $1,863,770.40. Following the completion of the transaction, the chief financial officer owned 504,708 shares of the company’s stock, valued at approximately $124,097,603.04. The trade was a 1.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 302,162 shares of company stock valued at $72,810,546. 11.84% of the stock is owned by corporate insiders.

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.