Larson Financial Group LLC Sells 841 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Larson Financial Group LLC trimmed its holdings in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 42.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,141 shares of the company’s stock after selling 841 shares during the quarter. Larson Financial Group LLC’s holdings in Credo Technology Group were worth $77,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CRDO. Assetmark Inc. increased its stake in Credo Technology Group by 5.4% during the 3rd quarter. Assetmark Inc. now owns 4,978 shares of the company’s stock worth $153,000 after purchasing an additional 257 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Credo Technology Group during the 3rd quarter worth approximately $565,000. Chartwell Investment Partners LLC grew its stake in shares of Credo Technology Group by 19.0% during the 3rd quarter. Chartwell Investment Partners LLC now owns 50,438 shares of the company’s stock worth $1,553,000 after acquiring an additional 8,043 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Credo Technology Group during the 3rd quarter worth approximately $671,000. Finally, Rakuten Securities Inc. bought a new position in shares of Credo Technology Group during the 3rd quarter worth approximately $30,000. 80.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 3,790 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $69.93, for a total transaction of $265,034.70. Following the completion of the sale, the chief financial officer now owns 652,666 shares of the company’s stock, valued at $45,640,933.38. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $68.04, for a total value of $3,742,200.00. Following the sale, the chief technology officer now directly owns 8,508,602 shares of the company’s stock, valued at $578,925,280.08. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,190,496 shares of company stock valued at $82,695,512 in the last quarter. 16.04% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRDO. Susquehanna raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. TD Cowen raised 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 note on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Craig Hallum raised their price target on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $74.90.

Credo Technology Group Trading Up 9.6 %

NASDAQ:CRDO opened at $47.53 on Thursday. The firm has a fifty day simple moving average of $67.22 and a 200 day simple moving average of $52.48. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $86.69. The stock has a market capitalization of $7.95 billion, a PE ratio of -316.87 and a beta of 2.16.

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.