GTS Securities LLC Invests $323,000 in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

GTS Securities LLC bought a new stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,799 shares of the company's stock, valued at approximately $323,000.

A number of other large investors also recently modified their holdings of the stock. Kestra Investment Management LLC purchased a new stake in Credo Technology Group in the 4th quarter valued at $38,000. WASHINGTON TRUST Co purchased a new position in Credo Technology Group during the 4th quarter worth $43,000. Principal Securities Inc. grew 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 worth $45,000 after acquiring an additional 576 shares in the last quarter. Quarry LP purchased a new stake in shares of Credo Technology Group in the fourth quarter valued at about $58,000. Finally, Plato Investment Management Ltd bought a new position in shares of Credo Technology Group during the fourth quarter valued at about $61,000. Institutional investors own 80.46% of the company's stock.

Analysts Set New Price Targets

CRDO has been the subject of a number of recent analyst reports. Susquehanna raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Needham & Company LLC restated a "buy" rating and issued a $80.00 target price on shares of Credo Technology Group in a research note on Wednesday, March 5th. Bank of America reduced their target price on Credo Technology Group from $83.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. 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 report on Tuesday, April 22nd. Finally, Mizuho cut their price objective on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $71.50.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $32.96, for a total transaction of $1,812,800.00. Following the completion of the transaction, the chief technology officer now owns 7,938,602 shares in the company, valued at $261,656,321.92. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Laufman sold 8,000 shares of Credo Technology Group stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $39.09, for a total transaction of $312,720.00. Following the completion of the transaction, the insider now owns 271,725 shares of the company's stock, valued at $10,621,730.25. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 473,665 shares of company stock worth $19,795,531. Insiders own 16.04% of the company's stock.

Credo Technology Group Trading Up 2.8%

Shares of CRDO stock traded up $1.69 during trading hours on Monday, hitting $62.65. 6,989,335 shares of the company were exchanged, compared to its average volume of 3,701,975. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of -417.67 and a beta of 2.29. The firm has a fifty day simple moving average of $47.64 and a 200 day simple moving average of $57.70. Credo Technology Group Holding Ltd has a 52-week low of $22.50 and a 52-week high of $86.69.

Credo Technology Group Company 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.