SeaCrest Wealth Management LLC Increases Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

SeaCrest Wealth Management LLC raised its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 63.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,985 shares of the company’s stock after buying an additional 7,724 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Credo Technology Group were worth $1,343,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CRDO. Allworth Financial LP raised its stake 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 buying an additional 771 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Credo Technology Group in the third quarter worth $30,000. Brown Brothers Harriman & Co. raised its stake in shares of Credo Technology Group by 695.1% in the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock worth $35,000 after purchasing an additional 1,001 shares during the last quarter. Larson Financial Group LLC raised its stake 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 purchasing an additional 1,399 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Credo Technology Group by 56.3% in the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock worth $65,000 after purchasing an additional 351 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRDO. Barclays boosted their price target on Credo Technology Group from $32.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group boosted their price target on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. 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 note on Monday, January 6th. Bank of America upgraded Credo Technology Group from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $80.00 in a research note on Tuesday, December 3rd. Finally, Susquehanna assumed coverage on Credo Technology Group in a report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.40.

Credo Technology Group Price Performance

Shares of CRDO opened at $75.48 on Thursday. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $78.97. The firm has a market capitalization of $12.62 billion, a P/E ratio of -503.20 and a beta of 2.11. The business has a fifty day moving average of $61.66 and a 200 day moving average of $42.43.

Insider Buying and Selling 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 Friday, December 20th. The stock was sold at an average price of $68.03, for a total transaction of $6,803,000.00. Following the completion of the sale, the chief operating officer now owns 400,000 shares of the company’s stock, valued at approximately $27,212,000. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $39.24, for a total value of $2,158,200.00. Following the sale, the chief technology officer now directly owns 8,838,602 shares of the company’s stock, valued at $346,826,742.48. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 978,804 shares of company stock valued at $64,733,592. 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.