Dakota Wealth Management Sells 1,327 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Dakota Wealth Management lessened its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 17.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,362 shares of the company’s stock after selling 1,327 shares during the period. Dakota Wealth Management’s holdings in Credo Technology Group were worth $428,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CRDO. Point72 Hong Kong Ltd bought a new stake in shares of Credo Technology Group during the 3rd quarter worth approximately $3,948,000. Wellington Management Group LLP lifted its stake in Credo Technology Group by 32.7% in the third quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock valued at $88,188,000 after acquiring an additional 705,512 shares during the last quarter. Centiva Capital LP bought a new position in shares of Credo Technology Group in the 3rd quarter valued at about $553,000. Charles Schwab Investment Management Inc. increased its stake in shares of Credo Technology Group by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company’s stock worth $35,006,000 after purchasing an additional 95,335 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Credo Technology Group by 94.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company’s stock valued at $7,507,000 after purchasing an additional 118,169 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Credo Technology Group Stock Down 4.4 %

Shares of NASDAQ:CRDO opened at $80.47 on Friday. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $86.69. The company’s 50 day moving average price is $66.70 and its two-hundred day moving average price is $44.86. The firm has a market cap of $13.46 billion, a PE ratio of -536.47 and a beta of 2.11.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America upgraded Credo Technology Group from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $27.00 to $80.00 in a report on Tuesday, December 3rd. The Goldman Sachs Group increased their price target on Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Craig Hallum lifted their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Mizuho upped their price objective on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Stifel Nicolaus raised their target price on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and an average price target of $76.40.

Insider Activity at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 12,504 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $48.48, for a total transaction of $606,193.92. Following the completion of the sale, the chief financial officer now owns 656,456 shares of the company’s stock, valued at $31,824,986.88. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $48.57, for a total transaction of $2,671,350.00. Following the completion of the transaction, the chief technology officer now directly owns 8,618,602 shares in the company, valued at approximately $418,605,499.14. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,203,804 shares of company stock worth $83,293,192. 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.