Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC trimmed its holdings in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 68.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,179 shares of the company’s stock after selling 142,729 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Credo Technology Group were worth $4,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of 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 acquiring an additional 771 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Credo Technology Group in the third quarter valued at approximately $30,000. Brown Brothers Harriman & Co. raised its holdings in shares of Credo Technology Group by 695.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock valued at $35,000 after buying an additional 1,001 shares during the period. Larson Financial Group LLC boosted its holdings in Credo Technology Group by 240.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,982 shares of the company’s stock valued at $61,000 after acquiring an additional 1,399 shares during the period. Finally, GAMMA Investing LLC lifted 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 worth $65,000 after purchasing an additional 351 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRDO. Craig Hallum increased their target price on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Barclays upped their price target on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Roth Mkm boosted their price objective 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. Needham & Company LLC raised their target price on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Mizuho increased their price objective on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.40.

Insider Buying and Selling at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 3,790 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $69.93, for a total value of $265,034.70. Following the sale, the chief financial officer now directly owns 652,666 shares in the company, valued at $45,640,933.38. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on 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 sale, the chief technology officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,203,804 shares of company stock worth $83,293,192. 16.04% of the stock is currently owned by insiders.

Credo Technology Group Trading Up 4.6 %

Shares of CRDO opened at $58.15 on Wednesday. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69. The firm has a 50-day simple moving average of $67.29 and a 200-day simple moving average of $45.32.

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.