Segall Bryant & Hamill LLC Sells 154,122 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Segall Bryant & Hamill LLC cut its holdings in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 51.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,992 shares of the company’s stock after selling 154,122 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Credo Technology Group were worth $9,812,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CRDO. Brown Brothers Harriman & Co. grew 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 purchasing an additional 1,001 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Credo Technology Group during the 4th quarter valued at approximately $38,000. WASHINGTON TRUST Co bought a new stake in shares of Credo Technology Group during the fourth quarter valued at approximately $43,000. Principal Securities Inc. lifted its holdings in shares of Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company’s stock worth $45,000 after buying an additional 576 shares in the last quarter. Finally, Larson Financial Group LLC boosted 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. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRDO has been the topic of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a research report on Wednesday, March 5th. Bank of America cut their price target on Credo Technology Group from $83.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. TD Cowen upped their price objective on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus raised their target price on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of “Buy” and a consensus price target of $74.90.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $44.95 on Thursday. The firm has a market capitalization of $7.63 billion, a PE ratio of -299.67 and a beta of 2.16. The stock’s fifty day moving average is $62.03 and its 200 day moving average is $53.50. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69.

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 that occurred on Friday, January 31st. The stock was sold at an average price of $66.96, for a total transaction of $125,550.00. Following the completion of the transaction, the director now owns 5,902,402 shares in the company, valued at $395,224,837.92. The trade was a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lip Bu Tan sold 150,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $76.09, for a total value of $11,413,500.00. Following the completion of the sale, the director now owns 1,113,725 shares in the company, valued at approximately $84,743,335.25. The trade was a 11.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,120,665 shares of company stock worth $75,788,792 over the last quarter. Insiders own 16.04% of the company’s stock.

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.