KBC Group NV Has $380,000 Stock Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

KBC Group NV grew its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 48.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,661 shares of the company’s stock after purchasing an additional 1,839 shares during the quarter. KBC Group NV’s holdings in Credo Technology Group were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CRDO. Wesbanco Bank Inc. increased its position in Credo Technology Group by 25.7% during the fourth quarter. Wesbanco Bank Inc. now owns 19,535 shares of the company’s stock worth $1,313,000 after buying an additional 4,000 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Credo Technology Group during the 4th quarter valued at about $353,000. Finley Financial LLC bought a new position in shares of Credo Technology Group in the 4th quarter valued at approximately $173,000. Nisa Investment Advisors LLC lifted its holdings in Credo Technology Group by 8.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $225,000 after purchasing an additional 255 shares during the last quarter. Finally, Oak Ridge Investments LLC bought a new stake in Credo Technology Group during the fourth quarter worth approximately $3,399,000. Institutional investors own 80.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRDO. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Bank of America raised shares of Credo Technology Group from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $80.00 in a research report on Tuesday, December 3rd. Mizuho lifted their price objective on Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Stifel Nicolaus increased their target price on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Susquehanna started coverage on Credo Technology Group in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

Credo Technology Group Trading Up 8.4 %

Shares of NASDAQ CRDO opened at $70.02 on Monday. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $86.69. The business has a fifty day simple moving average of $68.45 and a 200 day simple moving average of $46.00. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of -466.80 and a beta of 2.11.

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 143,880 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $67.65, for a total value of $9,733,482.00. Following the sale, the chief executive officer now directly owns 2,370,858 shares in the company, valued at $160,388,543.70. This represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Yat Tung Lam sold 100,000 shares of Credo Technology Group stock in a transaction on Friday, December 20th. The shares were sold at an average price of $68.03, for a total value of $6,803,000.00. Following the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 1,358,804 shares of company stock worth $92,342,042. 16.04% of the stock is currently owned by corporate insiders.

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.