GTS Securities LLC Takes Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

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

Several other institutional investors have also added to or reduced their stakes in CRDO. Kestra Investment Management LLC purchased a new stake in shares of Credo Technology Group in the 4th quarter worth about $38,000. WASHINGTON TRUST Co purchased a new stake in Credo Technology Group during the 4th quarter valued at about $43,000. Principal Securities Inc. grew its position in Credo Technology Group by 626.1% during 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 stake in Credo Technology Group during the 4th quarter valued at about $58,000. Finally, Plato Investment Management Ltd purchased a new stake in Credo Technology Group during the 4th quarter valued at about $61,000. 80.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Mizuho cut their price objective on shares of 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. Needham & Company LLC reissued a "buy" rating and set a $80.00 price objective on shares of Credo Technology Group in a research report on Wednesday, March 5th. Barclays cut their price objective on shares of Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on shares of Credo Technology Group from $85.00 to $69.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Bank of America dropped 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. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $71.50.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 3,790 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $40.75, for a total transaction of $154,442.50. Following the sale, the chief financial officer now directly owns 608,602 shares in the company, valued at $24,800,531.50. This represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $47.29, for a total transaction of $2,600,950.00. Following the sale, the chief technology officer now owns 8,103,602 shares in the company, valued at approximately $383,219,338.58. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 473,665 shares of company stock worth $19,795,531. 16.04% of the stock is currently owned by insiders.

Credo Technology Group Stock Down 5.2%

Shares of Credo Technology Group stock traded down $3.29 during mid-day trading on Friday, hitting $60.54. The stock had a trading volume of 4,679,615 shares, compared to its average volume of 3,693,667. The firm has a 50-day moving average of $47.29 and a two-hundred day moving average of $57.35. Credo Technology Group Holding Ltd has a 12-month low of $22.50 and a 12-month high of $86.69. The firm has a market cap of $10.28 billion, a P/E ratio of -403.60 and a beta of 2.29.

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.