4,150 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Purchased by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC acquired a new position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,150 shares of the company's stock, valued at approximately $279,000.

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP lifted its holdings 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 purchasing an additional 771 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Credo Technology Group in the third quarter worth approximately $30,000. GAMMA Investing LLC grew its stake 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. Brown Brothers Harriman & Co. increased its stake in Credo Technology Group by 695.1% during the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company's stock worth $35,000 after acquiring an additional 1,001 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Credo Technology Group by 240.0% in the third quarter. Larson Financial Group LLC now owns 1,982 shares of the company's stock valued at $61,000 after buying an additional 1,399 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 12,504 shares of Credo Technology Group stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $48.48, for a total transaction of $606,193.92. Following the sale, the chief financial officer now owns 656,456 shares of the company's stock, valued at $31,824,986.88. The trade was a 1.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Yat Tung Lam sold 10,000 shares of the 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 owns 2,825,621 shares of the company's stock, valued at $227,716,796.39. This represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,305,679 shares of company stock worth $89,862,242. Insiders own 16.04% of the company's stock.

Wall Street Analysts Forecast Growth

CRDO has been the topic of a number of recent research reports. Mizuho boosted their price objective on Credo Technology Group from $70.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. TD Cowen increased their price target on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Bank of America upgraded Credo Technology Group from an "underperform" rating to a "buy" rating and upped their price objective for the company from $27.00 to $80.00 in a research note on Tuesday, December 3rd. Roth Mkm lifted their price objective on shares of Credo Technology Group from $35.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, Susquehanna assumed coverage on shares of Credo Technology Group in a report on Tuesday, December 17th. They set a "neutral" rating and a $80.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $76.40.

Credo Technology Group Price Performance

Shares of CRDO stock traded down $3.70 during trading hours on Wednesday, reaching $71.54. The stock had a trading volume of 3,014,972 shares, compared to its average volume of 5,211,627. The firm has a market capitalization of $11.96 billion, a PE ratio of -476.94 and a beta of 2.09. The firm has a 50-day simple moving average of $72.16 and a 200-day simple moving average of $49.55. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69.

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.