Leonteq Securities AG Has $2.71 Million Stock Holdings in Credo Technology Group Holding Ltd. $CRDO

Leonteq Securities AG boosted its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 150.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,856 shares of the company’s stock after buying an additional 17,320 shares during the period. Leonteq Securities AG’s holdings in Credo Technology Group were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CRDO. Crewe Advisors LLC increased its holdings in shares of Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after purchasing an additional 106 shares during the period. Reflection Asset Management acquired a new position in Credo Technology Group in the 4th quarter valued at approximately $25,000. Acumen Wealth Advisors LLC purchased a new stake in Credo Technology Group in the 4th quarter worth approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter valued at $32,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Credo Technology Group during the 4th quarter valued at $36,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRDO shares. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Susquehanna lifted their price target on Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a report on Tuesday, June 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $250.00 price target on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Evercore started coverage on shares of Credo Technology Group in a research report on Monday, June 22nd. They set an “outperform” rating and a $325.00 price objective on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of “Buy” and an average price target of $263.11.

Insiders Place Their Bets

In related news, CEO William Joseph Brennan sold 54,984 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the sale, the chief executive officer owned 367,327 shares in the company, valued at $80,286,662.39. This represents a 13.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel W. Fleming sold 40,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the transaction, the chief financial officer directly owned 501,873 shares in the company, valued at approximately $125,207,276.04. This represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 405,095 shares of company stock valued at $81,206,774 in the last quarter. Insiders own 11.84% of the company’s stock.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $241.91 on Friday. The stock’s 50 day simple moving average is $219.87 and its 200 day simple moving average is $159.87. Credo Technology Group Holding Ltd. has a twelve month low of $86.49 and a twelve month high of $308.67. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 97.54, a PEG ratio of 1.18 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same quarter last year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 157.0% compared to the same quarter last year. On average, analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

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.