Ritter Daniher Financial Advisory LLC DE Takes Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Ritter Daniher Financial Advisory LLC DE acquired a new stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,300 shares of the company’s stock, valued at approximately $87,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its position in Credo Technology Group by 731.6% during the third quarter. FMR LLC now owns 1,152,361 shares of the company’s stock worth $35,493,000 after buying an additional 1,013,789 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Credo Technology Group by 94.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company’s stock worth $7,507,000 after acquiring an additional 118,169 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Credo Technology Group during the 3rd quarter valued at about $553,000. Janus Henderson Group PLC boosted its position in Credo Technology Group by 18.9% during the third quarter. Janus Henderson Group PLC now owns 66,045 shares of the company’s stock valued at $2,034,000 after buying an additional 10,496 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Credo Technology Group by 23.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 31,011 shares of the company’s stock valued at $955,000 after purchasing an additional 5,976 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Stock Performance

CRDO stock opened at $33.30 on Monday. The company has a market cap of $5.65 billion, a price-to-earnings ratio of -222.00 and a beta of 2.30. The business’s 50-day moving average is $56.25 and its two-hundred day moving average is $54.32. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRDO. 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 report on Monday, January 6th. The Goldman Sachs Group increased their target price on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. Barclays upped their price objective on Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Susquehanna raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $74.60.

Insider Transactions at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 3,790 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $72.61, for a total value of $275,191.90. Following the transaction, the chief financial officer now directly owns 638,564 shares of the company’s stock, valued at approximately $46,366,132.04. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Friday, January 31st. The shares were sold at an average price of $66.96, for a total value of $125,550.00. Following the transaction, the director now owns 5,902,402 shares in the company, valued at $395,224,837.92. This trade represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 830,665 shares of company stock worth $54,153,192 in the last quarter. 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.