Atria Wealth Solutions Inc. Takes Position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO)

Atria Wealth Solutions Inc. bought a new position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 14,370 shares of the company's stock, valued at approximately $577,000.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Credo Technology Group in the 1st quarter worth $27,000. Harbour Investments Inc. bought a new position in Credo Technology Group in the 1st quarter worth $29,000. Quarry LP bought a new position in Credo Technology Group in the 4th quarter worth $58,000. Optimum Investment Advisors bought a new position in Credo Technology Group in the 1st quarter worth $52,000. Finally, Larson Financial Group LLC raised its holdings in Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company's stock worth $56,000 after purchasing an additional 245 shares during the period. 80.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho raised their target price on Credo Technology Group from $81.00 to $98.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Stifel Nicolaus raised their target price on Credo Technology Group from $80.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Roth Capital set a $95.00 price target on Credo Technology Group and gave the stock a "buy" rating in a research note on Friday, June 13th. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research note on Tuesday, June 3rd. Finally, Noble Financial upgraded Credo Technology Group to a "strong-buy" rating in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $87.91.

Insider Activity

In other news, CEO William Joseph Brennan sold 150,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the completion of the transaction, the chief executive officer owned 2,061,978 shares in the company, valued at $220,363,588.86. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 59,641 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $74.96, for a total value of $4,470,689.36. Following the transaction, the chief technology officer owned 7,603,961 shares of the company's stock, valued at approximately $569,992,916.56. The trade was a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,274,583 shares of company stock worth $113,118,257 over the last 90 days. Corporate insiders own 16.04% of the company's stock.

Credo Technology Group Stock Down 3.4%

Shares of Credo Technology Group stock opened at $121.13 on Thursday. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 448.63, a PEG ratio of 2.25 and a beta of 2.59. The business has a 50-day moving average price of $95.94 and a 200-day moving average price of $68.01. Credo Technology Group Holding Ltd. has a twelve month low of $24.08 and a twelve month high of $128.56.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings data on Monday, June 2nd. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The firm had revenue of $170.00 million during the quarter, compared to analyst estimates of $159.59 million. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%. The business's quarterly revenue was up 179.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, equities analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

About Credo Technology Group

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.

Want to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.