Natixis Advisors LLC Has $888,000 Stock Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Natixis Advisors LLC lifted its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,833 shares of the company’s stock after acquiring an additional 934 shares during the quarter. Natixis Advisors LLC’s holdings in Credo Technology Group were worth $888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CRDO. American International Group Inc. increased its position in shares of Credo Technology Group by 7.4% in the first quarter. American International Group Inc. now owns 61,286 shares of the company’s stock valued at $1,299,000 after acquiring an additional 4,242 shares during the last quarter. Advisors Asset Management Inc. increased its position in Credo Technology Group by 47.6% during the first quarter. Advisors Asset Management Inc. now owns 3,811 shares of the company’s stock worth $81,000 after buying an additional 1,229 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Credo Technology Group by 10.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,997 shares of the company’s stock worth $1,484,000 after buying an additional 6,813 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Credo Technology Group during the first quarter worth approximately $352,000. Finally, California State Teachers Retirement System increased its position in Credo Technology Group by 7.7% during the first quarter. California State Teachers Retirement System now owns 128,795 shares of the company’s stock worth $2,729,000 after buying an additional 9,218 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Trading Down 2.1 %

Shares of CRDO stock opened at $45.71 on Thursday. The stock has a market cap of $7.59 billion, a P/E ratio of -285.69 and a beta of 2.19. The stock has a 50 day simple moving average of $38.14 and a 200 day simple moving average of $31.56. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $48.94.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $59.71 million during the quarter, compared to the consensus estimate of $59.50 million. Credo Technology Group had a negative net margin of 12.05% and a negative return on equity of 3.74%. Analysts forecast that Credo Technology Group Holding Ltd will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other Credo Technology Group news, CEO William Joseph Brennan sold 143,880 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $25.75, for a total transaction of $3,704,910.00. Following the completion of the sale, the chief executive officer now directly owns 2,529,738 shares in the company, valued at $65,140,753.50. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $47.37, for a total value of $2,605,350.00. Following the sale, the chief technology officer now owns 8,728,602 shares of the company’s stock, valued at $413,473,876.74. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,324,817 shares of company stock worth $43,552,936 over the last three months. Insiders own 16.04% of the company’s stock.

Analyst Ratings Changes

CRDO has been the topic of a number of recent analyst reports. TD Cowen raised Credo Technology Group to a “strong-buy” rating in a research report on Monday, September 16th. Craig Hallum boosted their price target on Credo Technology Group from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Roth Mkm boosted their price target on Credo Technology Group from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group boosted their price target on Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Bank of America boosted their price objective on Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

Credo Technology Group Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, 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, as well as integrated circuits, active electrical cables.