WINTON GROUP Ltd Acquires Shares of 17,734 Credo Technology Group Holding Ltd. $CRDO

WINTON GROUP Ltd acquired a new stake in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,734 shares of the company’s stock, valued at approximately $2,552,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC increased its stake in shares of Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Credo Technology Group during the 3rd quarter worth $25,000. Flagship Harbor Advisors LLC purchased a new position in shares of Credo Technology Group during the 4th quarter worth $32,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Credo Technology Group during the 4th quarter worth $36,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Credo Technology Group by 133.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 257 shares of the company’s stock worth $38,000 after acquiring an additional 147 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $206.89 on Monday. The business has a 50-day moving average price of $169.65 and a 200 day moving average price of $147.21. The company has a market capitalization of $38.16 billion, a price-to-earnings ratio of 83.42, a PEG ratio of 1.34 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 12-month low of $66.75 and a 12-month high of $245.95.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.14. The firm had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The company’s quarterly revenue was up 157.0% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. As a group, equities research analysts predict that Credo Technology Group Holding Ltd. will post 3.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Craig Hallum reiterated a “buy” rating and set a $200.00 price target on shares of Credo Technology Group in a report on Tuesday, March 3rd. Rothschild & Co Redburn assumed coverage on Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 price target on the stock. Jefferies Financial Group lifted their price target on Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Bank of America lifted their price target on Credo Technology Group from $210.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, TD Cowen lifted their price target on Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.41.

Insiders Place Their Bets

In related news, insider James Laufman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total transaction of $1,644,100.00. Following the completion of the sale, the insider directly owned 198,609 shares of the company’s stock, valued at approximately $32,653,305.69. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel W. Fleming sold 7,580 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $152.63, for a total value of $1,156,935.40. Following the sale, the chief financial officer directly owned 433,678 shares of the company’s stock, valued at $66,192,273.14. The trade was a 1.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 386,608 shares of company stock valued at $50,371,351 over the last 90 days. Company insiders own 11.84% of the company’s stock.

About Credo Technology Group

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.