Banque Cantonale Vaudoise Has $439,000 Stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Banque Cantonale Vaudoise increased its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 239.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,247 shares of the company’s stock after purchasing an additional 10,051 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Credo Technology Group were worth $439,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Credo Technology Group by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 15,063,781 shares of the company’s stock valued at $319,202,000 after acquiring an additional 1,072,301 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Credo Technology Group by 3.1% during the second quarter. Driehaus Capital Management LLC now owns 3,791,392 shares of the company’s stock valued at $121,097,000 after purchasing an additional 115,271 shares in the last quarter. Swedbank AB grew its stake in shares of Credo Technology Group by 873.9% in the 3rd quarter. Swedbank AB now owns 3,300,314 shares of the company’s stock valued at $101,650,000 after purchasing an additional 2,961,454 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Credo Technology Group by 9.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,431,433 shares of the company’s stock worth $77,660,000 after buying an additional 203,739 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Credo Technology Group by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,112,656 shares of the company’s stock valued at $67,473,000 after buying an additional 242,428 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Price Performance

CRDO stock opened at $46.18 on Friday. The company has a 50 day moving average price of $36.65 and a 200 day moving average price of $30.65. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $48.94. The stock has a market capitalization of $7.67 billion, a PE ratio of -290.50 and a beta of 2.19.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $59.71 million for the quarter, compared to the consensus estimate of $59.50 million. Credo Technology Group had a negative return on equity of 3.74% and a negative net margin of 12.05%. As a group, equities analysts expect that Credo Technology Group Holding Ltd will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, Director Lip Bu Tan sold 15,281 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $39.05, for a total transaction of $596,723.05. Following the completion of the sale, the director now owns 1,748,444 shares in the company, valued at approximately $68,276,738.20. The trade was a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $47.37, for a total value of $2,605,350.00. Following the completion of the transaction, the chief technology officer now owns 8,728,602 shares in the company, valued at $413,473,876.74. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,324,817 shares of company stock worth $43,552,936. Company insiders own 16.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRDO. Mizuho increased their price objective on Credo Technology Group from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 6th. Roth Mkm upped their price objective on shares of Credo Technology Group from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America lifted their target price on shares of Credo Technology Group from $25.00 to $27.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC increased their price target on Credo Technology Group from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

Credo Technology Group Profile

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.