Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 25.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 303,000 shares of the company’s stock after selling 101,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.19% of Credo Technology Group worth $5,899,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Credo Technology Group by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 13,991,480 shares of the company’s stock valued at $272,414,000 after purchasing an additional 1,420,664 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Credo Technology Group during the fourth quarter worth about $35,224,000. Ghisallo Capital Management LLC purchased a new position in Credo Technology Group during the fourth quarter valued at approximately $9,735,000. Assetmark Inc. lifted its holdings in Credo Technology Group by 30.1% in the fourth quarter. Assetmark Inc. now owns 5,460 shares of the company’s stock valued at $106,000 after acquiring an additional 1,263 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Credo Technology Group in the 4th quarter worth approximately $522,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CRDO. The Goldman Sachs Group raised their price objective on shares of Credo Technology Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. TD Cowen raised their price objective on shares of Credo Technology Group from $20.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Barclays boosted their price target on shares of Credo Technology Group from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Craig Hallum boosted their price target on shares of Credo Technology Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Mizuho reissued a “buy” rating and issued a $30.00 price target (up previously from $28.00) on shares of Credo Technology Group in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.88.

Insider Activity at Credo Technology Group

In other news, COO Yat Tung Lam sold 94,329 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $22.51, for a total transaction of $2,123,345.79. Following the transaction, the chief operating officer now owns 912,878 shares of the company’s stock, valued at approximately $20,548,883.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Yat Tung Lam sold 94,329 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $22.51, for a total transaction of $2,123,345.79. Following the transaction, the chief operating officer now owns 912,878 shares of the company’s stock, valued at approximately $20,548,883.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $21.93, for a total transaction of $1,206,150.00. Following the transaction, the chief technology officer now directly owns 9,993,602 shares of the company’s stock, valued at approximately $219,159,691.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 862,522 shares of company stock valued at $18,643,671. 23.89% of the stock is currently owned by insiders.

Credo Technology Group Trading Down 1.0 %

CRDO stock opened at $28.58 on Tuesday. The firm has a 50-day moving average of $20.95 and a two-hundred day moving average of $20.69. Credo Technology Group Holding Ltd has a 12 month low of $13.38 and a 12 month high of $29.89.

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.