Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Purchased by Diversified Trust Co

Diversified Trust Co raised its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 35.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,894 shares of the company’s stock after acquiring an additional 9,940 shares during the quarter. Diversified Trust Co’s holdings in Credo Technology Group were worth $2,547,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRDO. Natixis Advisors LLC lifted its stake in shares of Credo Technology Group by 19.2% in the 2nd quarter. Natixis Advisors LLC now owns 27,899 shares of the company’s stock valued at $891,000 after purchasing an additional 4,501 shares during the period. Rhumbline Advisers boosted its stake in shares of Credo Technology Group by 13.1% during the 2nd quarter. Rhumbline Advisers now owns 181,973 shares of the company’s stock worth $5,812,000 after acquiring an additional 21,132 shares in the last quarter. Arizona State Retirement System grew its position in shares of Credo Technology Group by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 38,856 shares of the company’s stock valued at $1,241,000 after acquiring an additional 3,437 shares during the period. Thornburg Investment Management Inc. increased its stake in shares of Credo Technology Group by 7.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 253,986 shares of the company’s stock valued at $8,112,000 after purchasing an additional 16,659 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Credo Technology Group by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,112,656 shares of the company’s stock worth $67,473,000 after purchasing an additional 242,428 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Buying and Selling

In other news, Director Lip Bu Tan sold 3,799 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.73, for a total transaction of $268,703.27. Following the completion of the sale, the director now owns 1,709,926 shares in the company, valued at $120,943,065.98. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Joseph Brennan sold 143,880 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $67.65, for a total value of $9,733,482.00. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 845,295 shares of company stock worth $48,302,873. 16.04% of the stock is owned by corporate insiders.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $75.28 on Wednesday. The stock’s 50 day simple moving average is $57.88 and its 200-day simple moving average is $40.73. The stock has a market cap of $12.59 billion, a P/E ratio of -501.87 and a beta of 2.11. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $78.97.

Wall Street Analyst Weigh In

CRDO has been the topic of several research analyst reports. Roth Mkm raised their price objective on Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Craig Hallum boosted their price target 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. Barclays lifted their target price on shares of Credo Technology Group from $32.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Mizuho upped their price target on shares of Credo Technology Group from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Susquehanna started coverage on Credo Technology Group in a report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.10.

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.