Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Purchased by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC raised its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,350 shares of the company’s stock after purchasing an additional 22,025 shares during the period. Zevenbergen Capital Investments LLC owned 0.06% of Credo Technology Group worth $6,274,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Prudential Financial Inc. boosted its position in Credo Technology Group by 6.0% during the fourth quarter. Prudential Financial Inc. now owns 9,843 shares of the company’s stock worth $662,000 after acquiring an additional 560 shares during the last quarter. Corebridge Financial Inc. boosted its position in Credo Technology Group by 1.2% during the 4th quarter. Corebridge Financial Inc. now owns 69,651 shares of the company’s stock worth $4,681,000 after purchasing an additional 801 shares during the period. LPL Financial LLC grew its stake in shares of Credo Technology Group by 37.5% in the fourth quarter. LPL Financial LLC now owns 48,936 shares of the company’s stock valued at $3,289,000 after buying an additional 13,341 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Credo Technology Group in the fourth quarter valued at approximately $1,922,000. Finally, Sei Investments Co. boosted its stake in shares of Credo Technology Group by 54.8% during the 4th quarter. Sei Investments Co. now owns 52,968 shares of the company’s stock valued at $3,560,000 after buying an additional 18,756 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insiders Place Their Bets

In other Credo Technology Group news, COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $80.59, for a total transaction of $805,900.00. Following the transaction, the chief operating officer now owns 2,825,621 shares of the company’s stock, valued at $227,716,796.39. The trade was a 0.35 % decrease in their position. The transaction was disclosed in a document filed 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 that occurred on Monday, March 17th. The stock was sold at an average price of $47.29, for a total value of $2,600,950.00. Following the transaction, the chief technology officer now directly owns 8,103,602 shares in the company, valued at approximately $383,219,338.58. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,065,665 shares of company stock valued at $73,051,442. Company insiders own 16.04% of the company’s stock.

Credo Technology Group Trading Down 0.3 %

CRDO opened at $46.34 on Monday. The firm has a 50-day moving average price of $63.41 and a two-hundred day moving average price of $53.21. The stock has a market capitalization of $7.87 billion, a PE ratio of -308.93 and a beta of 2.16. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $86.69.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CRDO shares. Craig Hallum upped their target price on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Susquehanna upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Mizuho boosted their price target on shares of Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Credo Technology Group presently has an average rating of “Buy” and an average price target of $74.90.

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.