3,318 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC purchased a new position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 3,318 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors also recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new stake in shares of Credo Technology Group in the 4th quarter valued at $38,000. WASHINGTON TRUST Co purchased a new stake in Credo Technology Group in the fourth quarter valued at $43,000. Principal Securities Inc. boosted its holdings in Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company’s stock valued at $45,000 after purchasing an additional 576 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Credo Technology Group during the 4th quarter worth about $61,000. Finally, GAMMA Investing LLC raised its stake in shares of Credo Technology Group by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock valued at $65,000 after buying an additional 351 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Pantas Sutardja sold 1,875 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the completion of the sale, the director now directly owns 5,902,402 shares in the company, valued at $395,224,837.92. This represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $80.59, for a total value of $805,900.00. Following the transaction, the chief operating officer now owns 2,825,621 shares in the company, valued at approximately $227,716,796.39. The trade was a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,665 shares of company stock worth $69,289,092 over the last quarter. 16.04% of the stock is currently owned by corporate insiders.

Credo Technology Group Trading Up 3.9 %

Shares of Credo Technology Group stock opened at $41.72 on Wednesday. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69. The firm’s 50-day moving average price is $58.98 and its 200 day moving average price is $54.10. The firm has a market capitalization of $7.08 billion, a PE ratio of -278.13 and a beta of 2.16.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of recent research reports. Barclays upped their target price on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Craig Hallum raised their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday, January 10th. Bank of America lowered their price target on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, Mizuho lifted their price objective on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $74.90.

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.