WASHINGTON TRUST Co Acquires Shares of 640 Credo Technology Group Holding Ltd (NASDAQ:CRDO)

WASHINGTON TRUST Co acquired a new stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 640 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors have also recently bought and sold shares of CRDO. Allworth Financial LP raised its position in Credo Technology Group by 917.9% in the 3rd quarter. Allworth Financial LP now owns 855 shares of the company’s stock valued at $26,000 after purchasing an additional 771 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Credo Technology Group during the third quarter worth $30,000. Brown Brothers Harriman & Co. raised its position in shares of Credo Technology Group by 695.1% during the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock worth $35,000 after acquiring an additional 1,001 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Credo Technology Group by 240.0% during the third quarter. Larson Financial Group LLC now owns 1,982 shares of the company’s stock worth $61,000 after acquiring an additional 1,399 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Credo Technology Group by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock worth $65,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Mizuho boosted their target price on Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. The Goldman Sachs Group boosted their target price on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. TD Cowen boosted their target price on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus lifted their price objective on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC lifted their price objective on Credo Technology Group from $43.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.40.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, Director Pantas Sutardja sold 1,875 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the completion of the transaction, the director now directly owns 5,902,402 shares of the company’s stock, valued at approximately $395,224,837.92. The trade was a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $80.59, for a total value of $805,900.00. Following the completion of the sale, the chief operating officer now owns 2,825,621 shares in the company, valued at approximately $227,716,796.39. This trade represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,305,679 shares of company stock valued at $89,862,242. Company insiders own 16.04% of the company’s stock.

Credo Technology Group Trading Up 0.3 %

NASDAQ:CRDO opened at $70.70 on Friday. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of -471.33 and a beta of 2.09. The stock has a 50-day moving average price of $72.08 and a two-hundred day moving average price of $49.09.

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.