Nisa Investment Advisors LLC Acquires 255 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Nisa Investment Advisors LLC grew its holdings in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDOFree Report) by 8.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,341 shares of the company’s stock after purchasing an additional 255 shares during the period. Nisa Investment Advisors LLC’s holdings in Credo Technology Group were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CRDO. Point72 Hong Kong Ltd bought a new stake in Credo Technology Group during the third quarter valued at approximately $3,948,000. Wellington Management Group LLP lifted its holdings in shares of Credo Technology Group by 32.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock worth $88,188,000 after acquiring an additional 705,512 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Credo Technology Group during the 3rd quarter worth $553,000. Charles Schwab Investment Management Inc. grew its position in Credo Technology Group by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company’s stock worth $35,006,000 after acquiring an additional 95,335 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Credo Technology Group by 94.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company’s stock valued at $7,507,000 after acquiring an additional 118,169 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Transactions at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $57.87, for a total value of $3,182,850.00. Following the completion of the sale, the chief technology officer now owns 8,213,602 shares of the company’s stock, valued at $475,321,147.74. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lip Bu Tan sold 150,000 shares of Credo Technology Group stock in a transaction on Monday, January 6th. The shares were sold at an average price of $76.09, for a total transaction of $11,413,500.00. Following the completion of the sale, the director now owns 1,113,725 shares in the company, valued at approximately $84,743,335.25. This trade represents a 11.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,258,804 shares of company stock worth $86,476,042. Company insiders own 16.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CRDO shares. Craig Hallum lifted their price target 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. TD Cowen boosted their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Bank of America raised shares of Credo Technology Group from an “underperform” rating to a “buy” rating and upped their price objective for the company from $27.00 to $80.00 in a research note on Tuesday, December 3rd. Roth Mkm lifted their target price on shares of Credo Technology Group from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus raised their price objective on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Credo Technology Group has an average rating of “Moderate Buy” and a consensus target price of $76.40.

View Our Latest Analysis on Credo Technology Group

Credo Technology Group Stock Up 1.1 %

Shares of Credo Technology Group stock opened at $58.79 on Thursday. The company’s fifty day simple moving average is $67.60 and its two-hundred day simple moving average is $45.41. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $86.69. The firm has a market cap of $9.83 billion, a PE ratio of -391.93 and a beta of 2.11.

About Credo Technology Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Credo Technology Group (NASDAQ:CRDO)

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