Emerald Advisers LLC Buys 58,229 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Emerald Advisers LLC boosted its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,507,019 shares of the company’s stock after acquiring an additional 58,229 shares during the quarter. Credo Technology Group accounts for 2.0% of Emerald Advisers LLC’s portfolio, making the stock its 5th largest position. Emerald Advisers LLC’s holdings in Credo Technology Group were worth $48,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ulland Investment Advisors LLC acquired a new stake in shares of Credo Technology Group during the 1st quarter worth about $29,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Credo Technology Group during the second quarter worth approximately $29,000. Fifth Third Bancorp raised its stake in shares of Credo Technology Group by 59.3% in the second quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock valued at $34,000 after acquiring an additional 400 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Credo Technology Group by 19,240.0% in the 1st quarter. Covestor Ltd now owns 1,934 shares of the company’s stock worth $41,000 after acquiring an additional 1,924 shares in the last quarter. Finally, CWM LLC grew its position in Credo Technology Group by 78.1% during the 2nd quarter. CWM LLC now owns 1,355 shares of the company’s stock worth $43,000 after acquiring an additional 594 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CRDO shares. Needham & Company LLC lifted their price objective on Credo Technology Group from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America upped 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 report on Thursday. The Goldman Sachs Group raised their price objective on shares of Credo Technology Group from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday. Craig Hallum upped their target price on shares of Credo Technology Group from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus raised their price target on shares of Credo Technology Group from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 10,000 shares of the company’s 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 sale, the chief operating officer now owns 3,130,945 shares in the company, valued at approximately $88,323,958.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $32.06, for a total value of $1,763,300.00. Following the sale, the chief technology officer now directly owns 9,113,602 shares in the company, valued at approximately $292,182,080.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 3,130,945 shares of the company’s stock, valued at approximately $88,323,958.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 892,310 shares of company stock valued at $27,376,087. 23.89% of the stock is currently owned by insiders.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $24.38 on Friday. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -135.44 and a beta of 2.26. The company has a 50 day moving average of $30.38 and a 200-day moving average of $24.89. Credo Technology Group Holding Ltd has a one year low of $13.38 and a one 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.