Bleakley Financial Group LLC Acquires Shares of 4,024 Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Bleakley Financial Group LLC bought a new stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,024 shares of the company's stock, valued at approximately $270,000.

A number of other large investors have also recently modified their holdings of CRDO. Swedbank AB boosted its stake in Credo Technology Group by 873.9% during the third quarter. Swedbank AB now owns 3,300,314 shares of the company's stock worth $101,650,000 after acquiring an additional 2,961,454 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Credo Technology Group by 73.6% during the third quarter. Point72 Asset Management L.P. now owns 3,916,447 shares of the company's stock worth $120,627,000 after acquiring an additional 1,660,230 shares in the last quarter. FMR LLC boosted its stake in Credo Technology Group by 731.6% during the third quarter. FMR LLC now owns 1,152,361 shares of the company's stock worth $35,493,000 after acquiring an additional 1,013,789 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Credo Technology Group by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company's stock worth $404,797,000 after buying an additional 909,578 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Credo Technology Group by 32.7% in the third quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company's stock worth $88,188,000 after buying an additional 705,512 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRDO shares. Barclays boosted their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Needham & Company LLC boosted their price objective on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Susquehanna started coverage on shares of Credo Technology Group in a report on Tuesday, December 17th. They set a "neutral" rating and a $80.00 price objective for the company. The Goldman Sachs Group boosted their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a report on Friday, January 10th. Finally, TD Cowen boosted their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Credo Technology Group currently has an average rating of "Moderate Buy" and a consensus target price of $76.40.

Insider Buying and Selling

In other Credo Technology Group news, Director Pantas Sutardja sold 1,875 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $66.96, for a total transaction of $125,550.00. Following the completion of the transaction, the director now directly owns 5,902,402 shares of the company's stock, valued at approximately $395,224,837.92. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Yat Tung Lam sold 10,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $80.59, for a total transaction of $805,900.00. Following the completion of the transaction, the chief operating officer now directly owns 2,825,621 shares of the company's stock, valued at $227,716,796.39. The trade was a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,305,679 shares of company stock worth $89,862,242 in the last three months. Corporate insiders own 16.04% of the company's stock.

Credo Technology Group Price Performance

NASDAQ CRDO traded up $0.22 during trading on Friday, reaching $70.70. 4,927,079 shares of the company's stock traded hands, compared to its average volume of 5,690,025. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $86.69. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of -471.33 and a beta of 2.09. The company's 50 day simple moving average is $72.08 and its two-hundred day simple moving average is $49.09.

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.