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

Larson Financial Group LLC decreased its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 42.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Aviance Capital Partners LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth about $336,000. CloudAlpha Capital Management Limited Hong Kong grew its holdings in shares of Credo Technology Group by 101.8% in the 4th quarter. CloudAlpha Capital Management Limited Hong Kong now owns 365,174 shares of the company’s stock worth $24,543,000 after purchasing an additional 184,234 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its holdings in shares of Credo Technology Group by 33.3% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 40,000 shares of the company’s stock worth $2,688,000 after purchasing an additional 10,000 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth about $5,281,000. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Credo Technology Group in the 4th quarter worth about $3,014,000. Institutional investors own 80.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CRDO. Mizuho increased their price objective on shares of Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of Credo Technology Group in a report on Wednesday, March 5th. Barclays increased their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Bank of America decreased their price objective on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, Craig Hallum increased their price objective 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. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $74.90.

Credo Technology Group Trading Up 9.6 %

Credo Technology Group stock opened at $47.53 on Thursday. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69. The company has a market cap of $7.95 billion, a PE ratio of -316.87 and a beta of 2.16. The company’s 50-day moving average is $67.22 and its two-hundred day moving average is $52.48.

Insider Activity at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction that occurred 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 in the company, valued at $578,925,280.08. This trade represents a 0.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lip Bu Tan sold 150,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $76.09, for a total transaction of $11,413,500.00. Following the completion of the sale, the director now owns 1,113,725 shares in the company, valued at $84,743,335.25. This represents a 11.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,190,496 shares of company stock worth $82,695,512 in the last ninety days. Company insiders own 16.04% of the company’s stock.

Credo Technology Group Company 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.