Banque Cantonale Vaudoise Sells 391 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Banque Cantonale Vaudoise trimmed its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,196 shares of the company’s stock after selling 391 shares during the period. Banque Cantonale Vaudoise’s holdings in Credo Technology Group were worth $134,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRDO. Vanguard Group Inc. raised its holdings in Credo Technology Group by 7.7% during the first 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 during the period. Jennison Associates LLC lifted its holdings in Credo Technology Group by 1.9% in the 1st quarter. Jennison Associates LLC now owns 2,375,255 shares of the company’s stock worth $50,332,000 after purchasing an additional 45,396 shares in the last quarter. Wellington Management Group LLP purchased a new position in Credo Technology Group in the 4th quarter worth approximately $35,224,000. AMF Tjanstepension AB boosted its stake in Credo Technology Group by 31.8% in the 1st quarter. AMF Tjanstepension AB now owns 1,713,149 shares of the company’s stock worth $36,302,000 after purchasing an additional 413,149 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Credo Technology Group by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,631,832 shares of the company’s stock valued at $34,579,000 after buying an additional 53,432 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.21, for a total transaction of $282,100.00. Following the completion of the transaction, the chief operating officer now directly owns 3,130,945 shares of the company’s stock, valued at $88,323,958.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Credo Technology Group news, COO Yat Tung Lam sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $28.21, for a total value of $282,100.00. Following the completion of the sale, the chief operating officer now owns 3,130,945 shares of the company’s stock, valued at $88,323,958.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Joseph Brennan sold 49,368 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $25.78, for a total value of $1,272,707.04. Following the transaction, the chief executive officer now owns 622,762 shares of the company’s stock, valued at approximately $16,054,804.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 886,678 shares of company stock worth $26,885,494. Company insiders own 23.89% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of several research analyst reports. TD Cowen boosted their target price on shares of Credo Technology Group from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Needham & Company LLC increased their price objective on shares of Credo Technology Group from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Stifel Nicolaus raised their price objective on Credo Technology Group from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays increased their price target on Credo Technology Group from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Bank of America restated an “underperform” rating and set a $22.00 price target (up previously from $21.00) on shares of Credo Technology Group in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Credo Technology Group has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $31.63 on Wednesday. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of -175.72 and a beta of 2.23. The business has a 50 day simple moving average of $30.60 and a 200-day simple moving average of $24.80. Credo Technology Group Holding Ltd has a 1 year low of $13.38 and a 1 year high of $36.80.

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.