Natixis Advisors LLC Boosts Stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Natixis Advisors LLC increased its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 19.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,899 shares of the company’s stock after purchasing an additional 4,501 shares during the period. Natixis Advisors LLC’s holdings in Credo Technology Group were worth $891,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP bought a new position in shares of Credo Technology Group in the 4th quarter valued at about $35,224,000. Vanguard Group Inc. grew its holdings in Credo Technology Group by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 13,991,480 shares of the company’s stock valued at $272,414,000 after purchasing an additional 1,420,664 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Credo Technology Group during the 1st quarter worth approximately $22,535,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Credo Technology Group by 290.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,184,344 shares of the company’s stock worth $25,096,000 after purchasing an additional 881,344 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Credo Technology Group during the first quarter worth $17,847,000. Institutional investors own 80.46% of the company’s stock.

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $27.49, for a total transaction of $1,511,950.00. Following the transaction, the chief technology officer now directly owns 9,498,602 shares of the company’s stock, valued at $261,116,568.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO William Joseph Brennan sold 143,880 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $25.75, for a total value of $3,704,910.00. Following the transaction, the chief executive officer now directly owns 2,529,738 shares of the company’s stock, valued at $65,140,753.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $27.49, for a total transaction of $1,511,950.00. Following the transaction, the chief technology officer now directly owns 9,498,602 shares of the company’s stock, valued at approximately $261,116,568.98. The disclosure for this sale can be found here. Insiders sold a total of 971,190 shares of company stock worth $29,204,447 over the last three months. Corporate insiders own 23.89% of the company’s stock.

Wall Street Analysts Forecast Growth

CRDO has been the topic of several recent analyst reports. Bank of America raised their price target on shares of Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Stifel Nicolaus increased their price objective on Credo Technology Group from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. TD Cowen upped their target price on Credo Technology Group from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Barclays raised their price target on Credo Technology Group from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group upped their price objective on shares of Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $26.65 on Thursday. The stock has a market capitalization of $4.40 billion, a P/E ratio of -148.06 and a beta of 2.26. The company’s 50-day simple moving average is $30.11 and its 200-day simple moving average is $24.94. Credo Technology Group Holding Ltd has a fifty-two week low of $13.38 and a fifty-two week 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.