Valliance Asset Management Ltd Purchases Shares of 75,000 Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Valliance Asset Management Ltd purchased a new stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 75,000 shares of the company’s stock, valued at approximately $5,041,000. Credo Technology Group makes up approximately 9.1% of Valliance Asset Management Ltd’s investment portfolio, making the stock its 2nd biggest position.

Several other large investors have also modified their holdings of CRDO. CWM LLC raised its holdings in shares of Credo Technology Group by 105.7% during the third quarter. CWM LLC now owns 2,787 shares of the company’s stock worth $86,000 after acquiring an additional 1,432 shares in the last quarter. Creative Planning acquired a new stake in shares of Credo Technology Group in the third quarter valued at about $359,000. Dakota Wealth Management acquired a new stake in shares of Credo Technology Group in the third quarter valued at about $237,000. Allworth Financial LP grew its position in Credo Technology Group by 917.9% during the third quarter. Allworth Financial LP now owns 855 shares of the company’s stock worth $26,000 after buying an additional 771 shares in the last quarter. Finally, KP Management LLC acquired a new stake in Credo Technology Group during the third quarter valued at approximately $2,772,000. 80.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Credo Technology Group

In related news, Director Pantas Sutardja sold 1,875 shares of the 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 sale, the director now owns 5,902,402 shares in the company, valued at approximately $395,224,837.92. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Joseph Brennan sold 143,880 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $67.65, for a total transaction of $9,733,482.00. Following the completion of the transaction, the chief executive officer now directly owns 2,370,858 shares of the company’s stock, valued at approximately $160,388,543.70. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,305,679 shares of company stock valued at $89,862,242 in the last three months. 16.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CRDO has been the topic of a number of recent research reports. Barclays lifted their price objective on Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus lifted their target price on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group lifted their target price 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. TD Cowen lifted their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Craig Hallum lifted their target price on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.40.

Credo Technology Group Stock Down 6.3 %

Credo Technology Group stock opened at $66.78 on Friday. The stock has a market cap of $11.17 billion, a P/E ratio of -445.20 and a beta of 2.09. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69. The company’s 50-day moving average price is $72.26 and its two-hundred day moving average price is $50.68.

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.