Hantz Financial Services Inc. Invests $4.50 Million in Credo Technology Group Holding Ltd. $CRDO

Hantz Financial Services Inc. purchased a new position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,919 shares of the company’s stock, valued at approximately $4,502,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Credo Technology Group by 18.0% in the 3rd quarter. Versant Capital Management Inc now owns 663 shares of the company’s stock worth $97,000 after acquiring an additional 101 shares during the period. GAMMA Investing LLC lifted its position in Credo Technology Group by 6.7% in the third quarter. GAMMA Investing LLC now owns 1,891 shares of the company’s stock valued at $275,000 after purchasing an additional 118 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Credo Technology Group by 3.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company’s stock valued at $341,000 after purchasing an additional 126 shares in the last quarter. Blue Trust Inc. increased its position in Credo Technology Group by 3.9% during the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock worth $380,000 after purchasing an additional 154 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in Credo Technology Group during the 3rd quarter worth approximately $25,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRDO has been the topic of a number of analyst reports. Rosenblatt Securities began coverage on Credo Technology Group in a research note on Wednesday, January 21st. They issued a “neutral” rating and a $170.00 price target on the stock. Wolfe Research set a $240.00 target price on Credo Technology Group in a report on Tuesday, December 2nd. Needham & Company LLC boosted their target price on shares of Credo Technology Group from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Roth Mkm increased their price target on shares of Credo Technology Group from $170.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $216.54.

Credo Technology Group News Roundup

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Strategic product/partner progress: Credo is promoting its Blue Heron 224G retimer (3nm) for AI scale?up networking and announced deals/partnerships (including coverage on the Blue Heron/3M angle) that support longer?term revenue upside in AI data?center interconnects. Read More.
• Positive Sentiment: Bullish research and theses: Bank of America and other analysts continue to frame Credo as a long?term beneficiary of AI/cloud connectivity, and several bullish writeups argue current pullbacks are attractive entry points. Read More.
• Positive Sentiment: Independent investor bullish pieces: Some investors and analysts have recently upgraded or publicly said they’re buying at lower levels, highlighting strong revenue growth and margin expansion as a catalyst for recovery. Read More.
• Neutral Sentiment: Short?interest data appears anomalous/insignificant (reported as effectively zero); this suggests short activity is not a meaningful driver of today’s move. (Data flagged as irregular.)
• Neutral Sentiment: Broader bull?case commentary and research pieces remain available for longer?term investors but are not immediate market movers. Read More.
• Negative Sentiment: Insider selling pressure: Multiple insiders sold shares in late January (CEO/related filings, CTO sale of 27,500 shares, and a director sale of 1,875 shares). These disclosed Form 4 sales can hurt sentiment, especially after a strong run?up. Read More. • Read More. • Read More.
• Negative Sentiment: Analyst downgrades/ratings pressure: Zacks moved Credo from “strong?buy” to “hold,” and at least one Seeking Alpha piece published a rating downgrade — actions that can prompt short?term selling or stop?loss triggers. Read More. • Read More.

Insider Activity

In related news, CEO William Joseph Brennan sold 18,016 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $127.69, for a total transaction of $2,300,463.04. Following the transaction, the chief executive officer owned 252,625 shares of the company’s stock, valued at approximately $32,257,686.25. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Daniel W. Fleming sold 3,902 shares of Credo Technology Group stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $140.15, for a total transaction of $546,865.30. Following the completion of the sale, the chief financial officer directly owned 446,178 shares of the company’s stock, valued at $62,531,846.70. The trade was a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 917,976 shares of company stock worth $136,567,647 in the last quarter. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group Trading Down 12.9%

Shares of CRDO opened at $96.95 on Thursday. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $213.80. The stock has a market cap of $17.51 billion, a P/E ratio of 85.04 and a beta of 2.65. The company has a 50-day moving average of $147.68 and a two-hundred day moving average of $142.08.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Monday, December 1st. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.49 by $0.18. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The business had revenue of $268.03 million for the quarter, compared to analyst estimates of $234.99 million. During the same period in the prior year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 272.1% on a year-over-year basis. As a group, analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

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.