Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock Holdings Increased by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 30.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,906 shares of the company’s stock after buying an additional 907 shares during the period. Pacer Advisors Inc.’s holdings in Credo Technology Group were worth $263,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. KBC Group NV lifted its stake in Credo Technology Group by 48.1% during the fourth quarter. KBC Group NV now owns 5,661 shares of the company’s stock worth $380,000 after purchasing an additional 1,839 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Credo Technology Group by 25.7% during the fourth quarter. Wesbanco Bank Inc. now owns 19,535 shares of the company’s stock worth $1,313,000 after purchasing an additional 4,000 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Credo Technology Group in the 4th quarter worth about $353,000. Finley Financial LLC acquired a new position in shares of Credo Technology Group in the 4th quarter valued at about $173,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Credo Technology Group by 8.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $225,000 after buying an additional 255 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Activity

In related news, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.37, for a total transaction of $2,605,350.00. Following the completion of the transaction, the chief technology officer now owns 8,728,602 shares of the company’s stock, valued at $413,473,876.74. This trade represents a 0.63 % 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, CFO Daniel W. Fleming sold 12,504 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $48.48, for a total transaction of $606,193.92. Following the completion of the sale, the chief financial officer now owns 656,456 shares in the company, valued at approximately $31,824,986.88. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,360,679 shares of company stock worth $92,467,592. 16.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRDO has been the subject of a number of research reports. TD Cowen lifted their target price on Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Craig Hallum upped their price objective on Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. 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 research note on Friday, January 10th. Susquehanna initiated coverage on shares of Credo Technology Group in a report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $76.40.

Credo Technology Group Price Performance

Credo Technology Group stock opened at $76.25 on Wednesday. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $86.69. The stock has a market capitalization of $12.75 billion, a PE ratio of -508.33 and a beta of 2.09. The firm has a 50 day simple moving average of $69.54 and a 200-day simple moving average of $46.62.

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.