Nisa Investment Advisors LLC Has $225,000 Stock Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Nisa Investment Advisors LLC increased its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,341 shares of the company’s stock after buying an additional 255 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Credo Technology Group were worth $225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of Credo Technology Group by 917.9% during the third quarter. Allworth Financial LP now owns 855 shares of the company’s stock worth $26,000 after purchasing an additional 771 shares during the period. Rakuten Securities Inc. acquired a new position in Credo Technology Group during the third quarter worth $30,000. Brown Brothers Harriman & Co. lifted its stake in shares of Credo Technology Group by 695.1% in the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock valued at $35,000 after buying an additional 1,001 shares in the last quarter. Larson Financial Group LLC grew its holdings 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 valued at $61,000 after buying an additional 1,399 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 in the last quarter. Institutional investors own 80.46% of the company’s stock.

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 3,790 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $69.93, for a total value of $265,034.70. Following the sale, the chief financial officer now directly owns 652,666 shares in the company, valued at $45,640,933.38. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $47.37, for a total value of $2,605,350.00. Following the transaction, the chief technology officer now owns 8,728,602 shares of the company’s stock, valued at $413,473,876.74. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,258,804 shares of company stock valued at $86,476,042. Company insiders own 16.04% of the company’s stock.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $58.79 on Thursday. The company has a market capitalization of $9.83 billion, a P/E ratio of -391.93 and a beta of 2.11. The company’s 50-day moving average is $67.60 and its 200 day moving average is $45.41. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CRDO shares. Needham & Company LLC raised their price target on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Bank of America raised Credo Technology Group from an “underperform” rating to a “buy” rating and lifted their target price for the company from $27.00 to $80.00 in a research report on Tuesday, December 3rd. Barclays increased their price target on Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Susquehanna started coverage on shares of Credo Technology Group in a report on Tuesday, December 17th. They set a “neutral” rating and a $80.00 price objective on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

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.