Finley Financial LLC Acquires New Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Finley Financial LLC acquired a new stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,580 shares of the company’s stock, valued at approximately $173,000.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted 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 valued at $26,000 after purchasing an additional 771 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Credo Technology Group during the third quarter valued at $30,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 351 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in Credo Technology Group by 695.1% during the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock valued at $35,000 after purchasing an additional 1,001 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Credo Technology Group by 240.0% in the third quarter. Larson Financial Group LLC now owns 1,982 shares of the company’s stock worth $61,000 after buying an additional 1,399 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Activity at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.37, for a total transaction of $2,605,350.00. Following the transaction, the chief technology officer now directly owns 8,728,602 shares in the company, valued at $413,473,876.74. The trade was a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniel W. Fleming sold 12,504 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $48.48, for a total value of $606,193.92. Following the transaction, the chief financial officer now owns 656,456 shares in the company, valued at $31,824,986.88. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,133,804 shares of company stock worth $77,653,092 over the last three months. Company insiders own 16.04% of the company’s stock.

Credo Technology Group Trading Up 1.9 %

Credo Technology Group stock opened at $81.52 on Wednesday. Credo Technology Group Holding Ltd has a 52 week low of $16.82 and a 52 week high of $85.56. The business’s 50-day simple moving average is $63.55 and its 200-day simple moving average is $43.50.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRDO shares. TD Cowen boosted their price target 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. Mizuho boosted their price target on Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Susquehanna started coverage on Credo Technology Group in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 price target for the company. Stifel Nicolaus boosted their price target on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, 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 report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and an average price target of $76.40.

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.