Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Acquired by Diversified Trust Co

Diversified Trust Co raised its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 35.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,894 shares of the company's stock after acquiring an additional 9,940 shares during the period. Diversified Trust Co's holdings in Credo Technology Group were worth $2,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its position in Credo Technology Group by 917.9% in the 3rd quarter. Allworth Financial LP now owns 855 shares of the company's stock valued at $26,000 after acquiring an additional 771 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Credo Technology Group during the third quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of Credo Technology Group by 56.3% in the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company's stock worth $65,000 after purchasing an additional 351 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Credo Technology Group by 695.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company's stock worth $35,000 after buying an additional 1,001 shares during the period. Finally, Cranbrook Wealth Management LLC bought a new stake in Credo Technology Group during the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Credo Technology Group Price Performance

Shares of CRDO stock traded down $2.26 during mid-day trading on Wednesday, hitting $73.02. 3,717,562 shares of the stock traded hands, compared to its average volume of 4,151,935. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $78.97. The stock's fifty day moving average is $57.88 and its two-hundred day moving average is $40.73. The stock has a market cap of $12.21 billion, a P/E ratio of -486.80 and a beta of 2.11.

Analysts Set New Price Targets

A number of equities analysts have commented on CRDO shares. TD Cowen upped their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Roth Mkm increased their price objective on Credo Technology Group from $35.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Susquehanna assumed coverage on Credo Technology Group in a research report on Tuesday, December 17th. They set a "neutral" rating and a $80.00 target price for the company. Mizuho increased their price target on Credo Technology Group from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Finally, Needham & Company LLC raised their price target on Credo Technology Group from $43.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.10.

Insiders Place Their Bets

In other Credo Technology Group news, Director Lip Bu Tan sold 150,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $76.09, for a total transaction of $11,413,500.00. Following the sale, the director now owns 1,113,725 shares of the company's stock, valued at approximately $84,743,335.25. The trade was a 11.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $38.41, for a total transaction of $2,112,550.00. Following the completion of the transaction, the chief technology officer now directly owns 8,893,602 shares of the company's stock, valued at approximately $341,603,252.82. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 995,295 shares of company stock valued at $59,716,373. 16.04% of the stock is currently owned by insiders.

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.