Diversified Trust Co Has $525,000 Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Diversified Trust Co trimmed its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,781 shares of the company’s stock after selling 910 shares during the quarter. Diversified Trust Co’s holdings in Credo Technology Group were worth $525,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in Credo Technology Group in the 1st quarter worth about $97,000. Assetmark Inc. increased its holdings in shares of Credo Technology Group by 30.1% in the 4th quarter. Assetmark Inc. now owns 5,460 shares of the company’s stock valued at $106,000 after purchasing an additional 1,263 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Credo Technology Group in the third quarter worth approximately $166,000. Glenmede Trust Co. NA acquired a new stake in shares of Credo Technology Group during the third quarter worth approximately $215,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Credo Technology Group during the first quarter valued at approximately $276,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $31.58 on Thursday. The stock has a market capitalization of $5.22 billion, a P/E ratio of -175.44 and a beta of 2.24. The business has a 50-day moving average of $23.48 and a two-hundred day moving average of $21.62. Credo Technology Group Holding Ltd has a fifty-two week low of $13.38 and a fifty-two week high of $32.78.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Wednesday, May 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Credo Technology Group had a negative return on equity of 4.51% and a negative net margin of 14.70%. The company had revenue of $60.78 million during the quarter, compared to analyst estimates of $60.50 million. As a group, research analysts expect that Credo Technology Group Holding Ltd will post 0.07 EPS for the current fiscal year.

Insider Transactions at Credo Technology Group

In related news, COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $22.12, for a total value of $221,200.00. Following the transaction, the chief operating officer now owns 3,153,738 shares in the company, valued at approximately $69,760,684.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Yat Tung Lam sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $22.12, for a total transaction of $221,200.00. Following the completion of the sale, the chief operating officer now owns 3,153,738 shares in the company, valued at approximately $69,760,684.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $22.13, for a total value of $1,217,150.00. Following the completion of the transaction, the chief technology officer now directly owns 9,883,602 shares in the company, valued at $218,724,112.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 529,368 shares of company stock worth $11,522,357. 23.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CRDO shares. Bank of America reiterated an “underperform” rating and issued a $22.00 target price (up previously from $21.00) on shares of Credo Technology Group in a research report on Thursday, May 30th. Craig Hallum increased their price objective on Credo Technology Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Needham & Company LLC lifted their price objective on Credo Technology Group from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. TD Cowen raised Credo Technology Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $24.00 to $35.00 in a research report on Tuesday, June 25th. Finally, Barclays lifted their price target on Credo Technology Group from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.25.

Credo Technology Group Profile

Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.