Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Acquired by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 157,248 shares of the company’s stock after buying an additional 20,891 shares during the quarter. Legal & General Group Plc’s holdings in Credo Technology Group were worth $10,569,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in shares of Credo Technology Group during the fourth quarter valued at $700,000. Pacer Advisors Inc. lifted its stake in Credo Technology Group by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 3,906 shares of the company’s stock valued at $263,000 after buying an additional 907 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Credo Technology Group by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company’s stock worth $79,289,000 after buying an additional 43,169 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Credo Technology Group by 22.7% during the third quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company’s stock valued at $61,415,000 after acquiring an additional 368,518 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in shares of Credo Technology Group by 3.4% in the 4th quarter. Vontobel Holding Ltd. now owns 19,584 shares of the company’s stock valued at $1,316,000 after acquiring an additional 635 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Stock Down 3.7 %

CRDO stock opened at $37.72 on Thursday. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -251.47 and a beta of 2.30. The firm has a 50 day moving average of $50.13 and a two-hundred day moving average of $54.41. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 month high of $86.69.

Analyst Ratings Changes

Several equities analysts have weighed in on CRDO shares. Stifel Nicolaus lifted their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Bank of America dropped their price target on 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. Mizuho decreased their price objective on Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. Barclays increased their price target 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, Susquehanna raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $74.60.

Insider Buying and Selling

In other news, Director Pantas Sutardja sold 1,875 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $66.96, for a total transaction of $125,550.00. Following the completion of the sale, the director now owns 5,902,402 shares in the company, valued at approximately $395,224,837.92. This represents a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Laufman sold 8,000 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $39.09, for a total value of $312,720.00. Following the transaction, the insider now directly owns 271,725 shares in the company, valued at approximately $10,621,730.25. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 578,665 shares of company stock worth $31,561,763. 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.