Natixis Advisors LLC Sells 14,887 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Natixis Advisors LLC trimmed its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,946 shares of the company's stock after selling 14,887 shares during the period. Natixis Advisors LLC's holdings in Credo Technology Group were worth $937,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CRDO. Advisors Asset Management Inc. lifted its stake in Credo Technology Group by 11.3% in the third quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company's stock worth $145,000 after purchasing an additional 478 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Credo Technology Group in the third quarter worth about $1,311,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Credo Technology Group by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company's stock valued at $35,006,000 after acquiring an additional 95,335 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Credo Technology Group by 240.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,982 shares of the company's stock valued at $61,000 after acquiring an additional 1,399 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in Credo Technology Group by 695.1% during the 3rd 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. Institutional investors own 80.46% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays boosted their price objective on Credo Technology Group from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. TD Cowen increased their price target on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Bank of America cut 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. The Goldman Sachs Group upped their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Stifel Nicolaus raised their target price on Credo Technology Group from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Credo Technology Group presently has an average rating of "Buy" and a consensus price target of $74.90.

Insiders Place Their Bets

In other news, Director Lip Bu Tan sold 150,000 shares of Credo Technology Group 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 completion of the transaction, the director now directly owns 1,113,725 shares in the company, valued at approximately $84,743,335.25. This trade represents a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Yat Tung Lam sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $45.23, for a total value of $452,300.00. Following the completion of the sale, the chief operating officer now owns 2,802,447 shares in the company, valued at $126,754,677.81. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,130,665 shares of company stock worth $76,241,092. 16.04% of the stock is owned by corporate insiders.

Credo Technology Group Stock Down 4.5 %

Shares of NASDAQ:CRDO traded down $1.92 during trading on Friday, hitting $40.51. The stock had a trading volume of 3,010,017 shares, compared to its average volume of 3,334,164. The company has a market capitalization of $6.88 billion, a PE ratio of -270.07 and a beta of 2.16. The firm's fifty day moving average is $60.57 and its 200 day moving average is $53.92. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 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.