Finley Financial LLC Takes $173,000 Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Finley Financial LLC acquired a new stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,580 shares of the company’s stock, valued at approximately $173,000.

Several other large investors also recently modified their holdings of CRDO. Dimensional Fund Advisors LP grew its stake in shares of Credo Technology Group by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,112,656 shares of the company’s stock valued at $67,473,000 after purchasing an additional 242,428 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Credo Technology Group by 48.2% in the 2nd quarter. Hsbc Holdings PLC now owns 74,199 shares of the company’s stock worth $2,374,000 after acquiring an additional 24,116 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Credo Technology Group by 110.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 82,653 shares of the company’s stock worth $2,640,000 after acquiring an additional 43,411 shares in the last quarter. Xponance Inc. acquired a new position in shares of Credo Technology Group in the 2nd quarter worth approximately $257,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Credo Technology Group by 1.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 266,083 shares of the company’s stock worth $8,499,000 after acquiring an additional 4,902 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group Price Performance

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

Insider Transactions at Credo Technology Group

In other news, Director Lip Bu Tan sold 150,000 shares of Credo Technology Group stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $76.09, for a total transaction of $11,413,500.00. Following the transaction, the director now owns 1,113,725 shares in the company, valued at $84,743,335.25. The trade was a 11.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $47.37, for a total value of $2,605,350.00. Following the completion of the transaction, the chief technology officer now owns 8,728,602 shares of the company’s stock, valued at $413,473,876.74. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,133,804 shares of company stock valued at $77,653,092 over the last three months. 16.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRDO. Barclays boosted their target price on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Susquehanna began coverage on Credo Technology Group in a report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 target price on the stock. TD Cowen boosted their target price on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Bank of America raised Credo Technology Group from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $27.00 to $80.00 in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price objective on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.