5,440 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. bought a new stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,440 shares of the company’s stock, valued at approximately $366,000.

Several other hedge funds have also recently made changes to their positions in CRDO. Kestra Investment Management LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth about $38,000. WASHINGTON TRUST Co bought a new position in Credo Technology Group in the fourth quarter worth approximately $43,000. Principal Securities Inc. raised 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 worth $45,000 after purchasing an additional 576 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of Credo Technology Group during the fourth quarter worth $61,000. Finally, GAMMA Investing LLC boosted its stake in Credo Technology Group by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock worth $65,000 after purchasing an additional 351 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CRDO shares. Susquehanna raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Stifel Nicolaus increased their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. Mizuho increased their price target on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Barclays increased their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group raised their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $74.90.

Credo Technology Group Price Performance

NASDAQ CRDO opened at $50.53 on Tuesday. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 month high of $86.69. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of -336.87 and a beta of 2.16. The firm’s fifty day moving average price is $63.04 and its 200 day moving average price is $53.38.

Insider Transactions at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $47.29, for a total value of $2,600,950.00. Following the sale, the chief technology officer now owns 8,103,602 shares of the company’s stock, valued at $383,219,338.58. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Yat Tung Lam sold 100,000 shares of the 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 completion of the transaction, the chief operating officer now owns 1,000,000 shares of the company’s stock, valued at $61,130,000. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,065,665 shares of company stock worth $73,051,442. Corporate insiders own 16.04% of the company’s stock.

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.