Headlands Technologies LLC Sells 20,893 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Headlands Technologies LLC lowered its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 76.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,372 shares of the company’s stock after selling 20,893 shares during the quarter. Headlands Technologies LLC’s holdings in Credo Technology Group were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Emerald Advisers LLC boosted its position in shares of Credo Technology Group by 4.0% during the 2nd quarter. Emerald Advisers LLC now owns 1,507,019 shares of the company’s stock worth $48,134,000 after purchasing an additional 58,229 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Credo Technology Group by 9.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 1,222,442 shares of the company’s stock worth $39,045,000 after purchasing an additional 108,374 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Credo Technology Group during the 2nd quarter worth about $29,000. Arizona State Retirement System boosted its position in shares of Credo Technology Group by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 38,856 shares of the company’s stock worth $1,241,000 after purchasing an additional 3,437 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Credo Technology Group by 13.1% during the 2nd quarter. Rhumbline Advisers now owns 181,973 shares of the company’s stock worth $5,812,000 after purchasing an additional 21,132 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Trading Up 2.7 %

CRDO opened at $28.51 on Friday. The company has a 50 day moving average of $29.88 and a 200 day moving average of $25.03. The company has a market cap of $4.73 billion, a PE ratio of -158.39 and a beta of 2.26. Credo Technology Group Holding Ltd has a 12 month low of $13.38 and a 12 month high of $36.80.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. TD Cowen upped their target price on shares of Credo Technology Group from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Barclays upped their target price on shares of Credo Technology Group from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Needham & Company LLC upped their target price on shares of Credo Technology Group from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Finally, The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Buying and Selling

In related news, Director Lip Bu Tan sold 45,476 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $31.76, for a total value of $1,444,317.76. Following the completion of the transaction, the director now directly owns 39,736 shares of the company’s stock, valued at approximately $1,262,015.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Credo Technology Group news, CEO William Joseph Brennan sold 143,880 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $25.75, for a total value of $3,704,910.00. Following the completion of the transaction, the chief executive officer now directly owns 2,529,738 shares of the company’s stock, valued at approximately $65,140,753.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lip Bu Tan sold 45,476 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $31.76, for a total transaction of $1,444,317.76. Following the completion of the transaction, the director now directly owns 39,736 shares of the company’s stock, valued at $1,262,015.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 971,190 shares of company stock valued at $29,204,447. Company insiders own 23.89% of the company’s stock.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.