Global Trust Asset Management LLC Purchases 8,430 Shares of Credo Technology Group Holding Ltd. $CRDO

Global Trust Asset Management LLC raised its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 56.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,313 shares of the company’s stock after purchasing an additional 8,430 shares during the period. Credo Technology Group accounts for approximately 1.3% of Global Trust Asset Management LLC’s holdings, making the stock its 22nd biggest holding. Global Trust Asset Management LLC’s holdings in Credo Technology Group were worth $3,355,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CRDO. Atlantic Union Bankshares Corp acquired a new position in Credo Technology Group in the third quarter valued at approximately $25,000. Crewe Advisors LLC grew its holdings in Credo Technology Group by 163.1% during 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 period. First Horizon Corp bought a new stake in shares of Credo Technology Group during the 3rd quarter valued at $26,000. Smartleaf Asset Management LLC lifted its stake in shares of Credo Technology Group by 133.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 257 shares of the company’s stock valued at $38,000 after purchasing an additional 147 shares during the period. Finally, Park Place Capital Corp acquired a new position in shares of Credo Technology Group in the 3rd quarter valued at $41,000. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Price Performance

CRDO opened at $101.45 on Friday. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $213.80. The company has a fifty day simple moving average of $113.21 and a 200 day simple moving average of $139.04. The stock has a market cap of $18.71 billion, a P/E ratio of 56.36 and a beta of 2.72.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 201.5% on a year-over-year basis. On average, equities research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In related news, Director Pantas Sutardja sold 1,875 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $128.67, for a total transaction of $241,256.25. Following the completion of the sale, the director directly owned 5,892,034 shares of the company’s stock, valued at approximately $758,128,014.78. This represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Joseph Brennan sold 18,016 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total transaction of $2,120,122.88. Following the sale, the chief executive officer owned 234,609 shares in the company, valued at $27,608,787.12. This trade represents a 7.13% 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 396,101 shares of company stock valued at $49,093,420 over the last 90 days. 11.84% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on CRDO shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $125.00 price objective on shares of Credo Technology Group in a research note on Monday, March 23rd. Stifel Nicolaus set a $200.00 target price on Credo Technology Group in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Friday, March 27th. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Finally, Mizuho lowered their price target on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Credo Technology Group presently has an average rating of “Buy” and a consensus price target of $206.33.

Credo Technology Group Company 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.