Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp boosted its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 436.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,573 shares of the company's stock after buying an additional 103,785 shares during the period. Stifel Financial Corp owned approximately 0.08% of Credo Technology Group worth $3,929,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB grew its holdings 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 during the period. Point72 Asset Management L.P. increased its holdings in shares of Credo Technology Group by 73.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,916,447 shares of the company's stock valued at $120,627,000 after purchasing an additional 1,660,230 shares in the last quarter. FMR LLC lifted its stake in shares of Credo Technology Group by 731.6% in the third quarter. FMR LLC now owns 1,152,361 shares of the company's stock valued at $35,493,000 after purchasing an additional 1,013,789 shares during the period. Principal Financial Group Inc. boosted its holdings in Credo Technology Group by 22.7% during the third quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company's stock worth $61,415,000 after buying an additional 368,518 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Credo Technology Group by 27.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,697,723 shares of the company's stock worth $54,225,000 after buying an additional 362,634 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CRDO. Roth Mkm boosted their price target 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. TD Cowen boosted their target price on Credo Technology Group from $45.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Craig Hallum raised their price target on Credo Technology Group from $38.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group increased their price objective on shares of Credo Technology Group from $31.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC lifted their target price on shares of Credo Technology Group from $43.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.60.

Credo Technology Group Stock Performance

NASDAQ CRDO traded down $7.42 during mid-day trading on Tuesday, reaching $69.83. 4,665,021 shares of the stock were exchanged, compared to its average volume of 2,463,693. The business's fifty day simple moving average is $47.59 and its 200 day simple moving average is $35.93. The stock has a market capitalization of $11.68 billion, a PE ratio of -483.60 and a beta of 2.26. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $78.97.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.67, for a total value of $1,631,850.00. Following the transaction, the chief technology officer now owns 9,003,602 shares in the company, valued at $267,136,871.34. This trade represents a 0.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lip Bu Tan sold 150,000 shares of the company's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $30.50, for a total value of $4,575,000.00. Following the sale, the director now owns 2,638,725 shares of the company's stock, valued at approximately $80,481,112.50. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,276,120 shares of company stock worth $49,535,455 over the last quarter. 16.04% of the stock is currently owned by insiders.

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.