Cookson Peirce & Co. Inc. Has $5.08 Million Holdings in Credo Technology Group Holding Ltd. $CRDO

Cookson Peirce & Co. Inc. boosted its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 79.1% in the fourth quarter, HoldingsChannel reports. The fund owned 35,283 shares of the company’s stock after buying an additional 15,586 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Credo Technology Group were worth $5,077,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp acquired a new stake in Credo Technology Group during the 3rd quarter worth about $25,000. Crewe Advisors LLC boosted its position 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. Flagship Harbor Advisors LLC acquired a new stake in Credo Technology Group during the 4th quarter worth about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Credo Technology Group during the 4th quarter worth about $36,000. Finally, Smartleaf Asset Management LLC boosted its position in Credo Technology Group by 133.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 257 shares of the company’s stock worth $38,000 after acquiring an additional 147 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $206.89 on Friday. The stock’s 50 day simple moving average is $169.65 and its 200 day simple moving average is $147.19. Credo Technology Group Holding Ltd. has a twelve month low of $66.75 and a twelve month high of $245.95. The company has a market capitalization of $38.16 billion, a price-to-earnings ratio of 83.42, a PEG ratio of 1.34 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The business had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same period last year, the business earned $0.20 EPS. The firm’s revenue was up 157.0% compared to the same quarter last year. On average, analysts forecast that Credo Technology Group Holding Ltd. will post 3.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of research reports. Craig Hallum restated a “buy” rating and set a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. TD Cowen raised their price target on Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Roth Mkm raised their price target on Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Rosenblatt Securities raised their price target on Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. Finally, Susquehanna raised their price target on Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of “Moderate Buy” and an average price target of $248.41.

Insider Buying and Selling

In related news, CEO William Joseph Brennan sold 50,000 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 value of $5,884,000.00. Following the transaction, the chief executive officer directly owned 1,782,502 shares of the company’s stock, valued at approximately $209,764,835.36. This trade represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total value of $3,234,000.00. Following the completion of the transaction, the chief technology officer directly owned 6,272,370 shares in the company, valued at $737,630,712. The trade was a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 386,608 shares of company stock worth $50,371,351 over the last three months. 11.84% of the stock is owned by company insiders.

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.