Stifel Financial Corp Has $10.46 Million Stock Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Stifel Financial Corp raised its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 22.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 155,673 shares of the company’s stock after acquiring an additional 28,100 shares during the period. Stifel Financial Corp owned about 0.09% of Credo Technology Group worth $10,463,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new stake in Credo Technology Group in the 4th quarter valued at $38,000. WASHINGTON TRUST Co bought a new stake in Credo Technology Group during the fourth quarter worth about $43,000. Principal Securities Inc. raised its holdings in Credo Technology Group by 626.1% during the fourth quarter. Principal Securities Inc. now owns 668 shares of the company’s stock worth $45,000 after acquiring an additional 576 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Credo Technology Group during the fourth quarter valued at approximately $61,000. Finally, GAMMA Investing LLC grew its stake in Credo Technology Group by 56.3% in 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 in the last quarter. 80.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CRDO. Mizuho cut their price objective on Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Bank of America decreased their price objective on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Susquehanna raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of Credo Technology Group in a report on Wednesday, March 5th. Finally, Stifel Nicolaus dropped their price objective on Credo Technology Group from $85.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Nine 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.com, the stock presently has an average rating of “Buy” and a consensus target price of $71.50.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 100,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $58.66, for a total value of $5,866,000.00. Following the completion of the sale, the chief operating officer now owns 2,825,621 shares of the company’s stock, valued at $165,750,927.86. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $57.87, for a total transaction of $3,182,850.00. Following the transaction, the chief technology officer now directly owns 8,213,602 shares in the company, valued at $475,321,147.74. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 618,665 shares of company stock worth $29,993,313 in the last ninety days. 16.04% of the stock is owned by company insiders.

Credo Technology Group Stock Up 3.0 %

Shares of NASDAQ:CRDO opened at $43.68 on Friday. The stock has a market cap of $7.42 billion, a PE ratio of -291.20 and a beta of 2.30. Credo Technology Group Holding Ltd has a 12-month low of $16.91 and a 12-month high of $86.69. The business has a 50 day moving average of $45.38 and a 200-day moving average of $54.90.

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.