EP Wealth Advisors LLC Acquires Shares of 3,146 Credo Technology Group Holding Ltd (NASDAQ:CRDO)

EP Wealth Advisors LLC bought a new position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,146 shares of the company’s stock, valued at approximately $211,000.

Several other large investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its position in Credo Technology Group by 45.4% in the fourth quarter. Cetera Investment Advisers now owns 11,956 shares of the company’s stock worth $804,000 after acquiring an additional 3,732 shares in the last quarter. Bosun Asset Management LLC grew its position in Credo Technology Group by 22.6% in the fourth quarter. Bosun Asset Management LLC now owns 17,700 shares of the company’s stock worth $1,190,000 after acquiring an additional 3,263 shares in the last quarter. Bridgefront Capital LLC bought a new stake in Credo Technology Group in the fourth quarter worth approximately $251,000. Captrust Financial Advisors grew its position in Credo Technology Group by 16.2% in the fourth quarter. Captrust Financial Advisors now owns 114,151 shares of the company’s stock worth $7,672,000 after acquiring an additional 15,894 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Credo Technology Group in the fourth quarter worth approximately $1,855,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $59.79 on Thursday. Credo Technology Group Holding Ltd has a fifty-two week low of $17.73 and a fifty-two week high of $86.69. The firm has a fifty day moving average price of $43.60 and a two-hundred day moving average price of $55.80. The company has a market cap of $10.15 billion, a PE ratio of -398.60 and a beta of 2.29.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $47.29, for a total value of $2,600,950.00. Following the completion of the sale, the chief technology officer now directly owns 8,103,602 shares of the company’s stock, valued at $383,219,338.58. This represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Laufman sold 8,000 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $39.09, for a total transaction of $312,720.00. Following the completion of the sale, the insider now directly owns 271,725 shares of the company’s stock, valued at approximately $10,621,730.25. This trade represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 573,665 shares of company stock valued at $25,908,531 in the last ninety days. Company insiders own 16.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRDO. Bank of America decreased their target price on shares of 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. Barclays decreased their target price 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. Stifel Nicolaus decreased their price objective on shares of Credo Technology Group from $85.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Susquehanna raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Finally, Mizuho decreased their price objective on shares of Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $71.50.

About Credo Technology Group

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.