GAMMA Investing LLC Acquires 351 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

GAMMA Investing LLC raised its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 56.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974 shares of the company’s stock after buying an additional 351 shares during the period. GAMMA Investing LLC’s holdings in Credo Technology Group were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRDO. Swedbank AB increased its holdings in shares of Credo Technology Group by 873.9% during the 3rd quarter. Swedbank AB now owns 3,300,314 shares of the company’s stock valued at $101,650,000 after acquiring an additional 2,961,454 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Credo Technology Group by 73.6% during the third quarter. Point72 Asset Management L.P. now owns 3,916,447 shares of the company’s stock valued at $120,627,000 after purchasing an additional 1,660,230 shares during the last quarter. FMR LLC raised its position in shares of Credo Technology Group by 731.6% in the third quarter. FMR LLC now owns 1,152,361 shares of the company’s stock valued at $35,493,000 after purchasing an additional 1,013,789 shares during the period. JPMorgan Chase & Co. raised its position in shares of Credo Technology Group by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company’s stock valued at $404,797,000 after purchasing an additional 909,578 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Credo Technology Group by 32.7% in the third quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock worth $88,188,000 after buying an additional 705,512 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CRDO shares. Stifel Nicolaus lifted their target price on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday. Roth Mkm increased their target price on Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Susquehanna assumed coverage on Credo Technology Group in a report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 target price on the stock. Finally, Mizuho upped their price target on Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.40.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $72.09, for a total transaction of $4,325,400.00. Following the completion of the transaction, the chief technology officer now directly owns 8,388,602 shares of the company’s stock, valued at approximately $604,734,318.18. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lip Bu Tan sold 3,799 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.73, for a total transaction of $268,703.27. Following the completion of the sale, the director now directly owns 1,709,926 shares in the company, valued at approximately $120,943,065.98. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 875,014 shares of company stock valued at $57,132,400. Company insiders own 16.04% of the company’s stock.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $73.80 on Monday. The stock has a market cap of $12.34 billion, a P/E ratio of -492.00 and a beta of 2.11. The stock has a fifty day moving average price of $59.91 and a 200 day moving average price of $41.67. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $78.97.

Credo Technology Group Company 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.