7,212 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC acquired a new position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) during the 4th quarter, Holdings Channel.com reports. The fund acquired 7,212 shares of the company’s stock, valued at approximately $484,000.

Several other hedge funds have also bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in Credo Technology Group by 8.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $225,000 after purchasing an additional 255 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Credo Technology Group by 51.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,028 shares of the company’s stock valued at $75,000 after buying an additional 348 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Credo Technology Group by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock valued at $65,000 after acquiring an additional 351 shares in the last quarter. Amalgamated Bank raised its holdings in Credo Technology Group by 9.4% in the 4th quarter. Amalgamated Bank now owns 4,777 shares of the company’s stock worth $321,000 after acquiring an additional 411 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Credo Technology Group by 1.2% in the 4th quarter. Arizona State Retirement System now owns 40,931 shares of the company’s stock valued at $2,751,000 after acquiring an additional 501 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Susquehanna raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Stifel Nicolaus raised their price target on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. Barclays boosted their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, January 17th. The Goldman Sachs Group raised their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Bank of America decreased their target price on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Credo Technology Group has an average rating of “Buy” and an average target price of $74.60.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $33.30 on Monday. The stock has a market capitalization of $5.65 billion, a PE ratio of -222.00 and a beta of 2.30. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $86.69. The company’s fifty day simple moving average is $56.25 and its 200-day simple moving average is $54.32.

Insider Activity at Credo Technology Group

In other news, COO Yat Tung Lam sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $80.59, for a total value of $805,900.00. Following the transaction, the chief operating officer now owns 2,825,621 shares of the company’s stock, valued at $227,716,796.39. This trade represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel W. Fleming sold 3,790 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $72.61, for a total value of $275,191.90. Following the transaction, the chief financial officer now owns 638,564 shares of the company’s stock, valued at approximately $46,366,132.04. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 830,665 shares of company stock worth $54,153,192. Corporate insiders own 16.04% of the company’s stock.

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.