18,057 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Bought by Zacks Investment Management

Zacks Investment Management bought a new position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 18,057 shares of the company's stock, valued at approximately $1,214,000.

A number of other large investors have also made changes to their positions in the stock. Kestra Investment Management LLC acquired a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $38,000. WASHINGTON TRUST Co purchased a new stake in Credo Technology Group during the 4th quarter worth $43,000. Principal Securities Inc. lifted its stake in shares of Credo Technology Group by 626.1% during 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 stake in shares of Credo Technology Group in the fourth quarter valued at about $61,000. Finally, GAMMA Investing LLC raised its holdings in shares of Credo Technology Group by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company's stock valued at $65,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insider Activity

In other news, CFO Daniel W. Fleming sold 3,790 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $40.75, for a total transaction of $154,442.50. Following the completion of the sale, the chief financial officer now directly owns 608,602 shares of the company's stock, valued at $24,800,531.50. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Pantas Sutardja sold 1,875 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the sale, the director now directly owns 5,902,402 shares in the company, valued at $395,224,837.92. This trade represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 563,665 shares of company stock worth $27,972,613 over the last 90 days. 16.04% of the stock is currently owned by company insiders.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO traded up $3.33 during trading on Wednesday, reaching $40.35. The company had a trading volume of 2,129,604 shares, compared to its average volume of 3,519,560. The firm has a market capitalization of $6.85 billion, a PE ratio of -269.00 and a beta of 2.30. Credo Technology Group Holding Ltd has a twelve month low of $16.91 and a twelve month high of $86.69. The firm's fifty day moving average is $47.18 and its 200 day moving average is $54.72.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of analyst reports. Barclays dropped 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 note on Tuesday. The Goldman Sachs Group increased their target price on Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Bank of America lowered their price target 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Credo Technology Group in a report on Wednesday, March 5th. Finally, Mizuho reduced their price target 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. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $71.50.

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.