Captrust Financial Advisors Purchases 15,894 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Captrust Financial Advisors increased its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,151 shares of the company’s stock after purchasing an additional 15,894 shares during the period. Captrust Financial Advisors owned approximately 0.07% of Credo Technology Group worth $7,672,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of Credo Technology Group during the 4th quarter valued at about $38,000. WASHINGTON TRUST Co purchased a new stake in Credo Technology Group during the fourth quarter valued at approximately $43,000. Principal Securities Inc. lifted its stake in shares of Credo Technology Group by 626.1% in the 4th 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. Quarry LP purchased a new position in shares of Credo Technology Group in the 4th quarter worth approximately $58,000. Finally, Plato Investment Management Ltd bought a new position in shares of Credo Technology Group during the 4th quarter valued at approximately $61,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRDO shares. Bank of America cut their price objective on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Stifel Nicolaus reduced their price objective on shares of Credo Technology Group from $85.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Susquehanna upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Barclays decreased their price target on Credo Technology Group from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a research note on Wednesday, March 5th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $71.50.

Credo Technology Group Price Performance

CRDO stock opened at $51.39 on Friday. Credo Technology Group Holding Ltd has a 1-year low of $17.17 and a 1-year high of $86.69. The business has a 50-day moving average price of $42.84 and a 200 day moving average price of $55.33. The company has a market capitalization of $8.73 billion, a P/E ratio of -342.60 and a beta of 2.29.

Insider Activity

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $47.29, for a total value of $2,600,950.00. Following the completion of the transaction, the chief technology officer now directly owns 8,103,602 shares of the company’s stock, valued at approximately $383,219,338.58. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Yat Tung Lam sold 100,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $61.13, for a total value of $6,113,000.00. Following the sale, the chief operating officer now owns 1,000,000 shares of the company’s stock, valued at $61,130,000. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 573,665 shares of company stock worth $25,908,531. 16.04% of the stock is currently owned by corporate insiders.

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.