Gordian Capital Singapore Pte Ltd Makes New $218,000 Investment in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Gordian Capital Singapore Pte Ltd acquired a new position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,240 shares of the company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Credo Technology Group in the 4th quarter worth $700,000. Pacer Advisors Inc. lifted its position in shares of Credo Technology Group by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 3,906 shares of the company’s stock valued at $263,000 after acquiring an additional 907 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Credo Technology Group by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company’s stock worth $79,289,000 after acquiring an additional 43,169 shares during the period. Vontobel Holding Ltd. raised its stake in Credo Technology Group by 3.4% during the 4th quarter. Vontobel Holding Ltd. now owns 19,584 shares of the company’s stock valued at $1,316,000 after purchasing an additional 635 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Credo Technology Group by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 562,382 shares of the company’s stock worth $37,798,000 after purchasing an additional 36,949 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $45.23, for a total value of $452,300.00. Following the transaction, the chief operating officer now directly owns 2,802,447 shares of the company’s stock, valued at approximately $126,754,677.81. The trade was a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction 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 owns 8,103,602 shares in the company, valued at approximately $383,219,338.58. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 573,665 shares of company stock worth $25,908,531. Company insiders own 16.04% of the company’s stock.

Analysts Set New Price Targets

CRDO has been the subject of a number of research reports. Stifel Nicolaus dropped their target price on shares of Credo Technology Group from $85.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Bank of America lowered their target price on 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. Mizuho reduced their price target on shares of Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Thursday, April 3rd. Barclays lowered their price objective on shares of Credo Technology Group from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $71.50.

Credo Technology Group Stock Performance

CRDO opened at $60.45 on Thursday. Credo Technology Group Holding Ltd has a one year low of $18.98 and a one year high of $86.69. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of -403.00 and a beta of 2.29. The stock’s 50 day moving average price is $45.19 and its 200-day moving average price is $56.52.

Credo Technology Group 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.