Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Purchased by EAM Investors LLC

EAM Investors LLC raised its holdings in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,738 shares of the company’s stock after acquiring an additional 20,407 shares during the quarter. Credo Technology Group makes up 1.2% of EAM Investors LLC’s investment portfolio, making the stock its largest holding. EAM Investors LLC owned 0.07% of Credo Technology Group worth $8,182,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Credo Technology Group during the fourth quarter valued at $117,242,000. Alliancebernstein L.P. lifted its holdings in shares of Credo Technology Group by 299.9% during the 4th quarter. Alliancebernstein L.P. now owns 1,740,982 shares of the company’s stock valued at $117,011,000 after buying an additional 1,305,594 shares during the last quarter. FMR LLC grew its stake in shares of Credo Technology Group by 731.6% in the 3rd quarter. FMR LLC now owns 1,152,361 shares of the company’s stock valued at $35,493,000 after buying an additional 1,013,789 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Credo Technology Group by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company’s stock worth $404,797,000 after buying an additional 909,578 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Credo Technology Group by 32.7% during 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 in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $45.23, for a total transaction of $452,300.00. Following the sale, the chief operating officer now directly owns 2,802,447 shares of the company’s stock, valued at $126,754,677.81. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $49.77, for a total value of $2,737,350.00. Following the completion of the transaction, the chief technology officer now directly owns 8,048,602 shares of the company’s stock, valued at approximately $400,578,921.54. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 970,665 shares of company stock valued at $65,135,892. 16.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

CRDO has been the subject of several recent research reports. Stifel Nicolaus boosted 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. Susquehanna upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. The Goldman Sachs Group raised their target price on Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday, January 10th. Mizuho decreased their price target on Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Barclays raised their price objective on Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $74.60.

Credo Technology Group Stock Down 13.7 %

Shares of CRDO stock opened at $37.14 on Friday. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 month high of $86.69. The firm has a market cap of $6.31 billion, a PE ratio of -247.60 and a beta of 2.16. The stock has a 50 day moving average of $57.19 and a 200-day moving average of $53.91.

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.