Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Acquired by Xponance Inc.

Xponance Inc. increased its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 21.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,228 shares of the company’s stock after acquiring an additional 1,786 shares during the period. Xponance Inc.’s holdings in Credo Technology Group were worth $687,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRDO. Point72 Hong Kong Ltd acquired a new position in shares of Credo Technology Group in the 3rd quarter worth approximately $3,948,000. Wellington Management Group LLP boosted its holdings in Credo Technology Group by 32.7% during 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 in the last quarter. Centiva Capital LP acquired a new position in Credo Technology Group in the third quarter worth approximately $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 buying an additional 95,335 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 buying an additional 118,169 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Credo Technology Group news, Director Pantas Sutardja sold 1,875 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the transaction, the director now directly owns 5,902,402 shares of the company’s stock, valued at $395,224,837.92. This represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $69.22, for a total value of $4,153,200.00. Following the sale, the chief technology officer now owns 8,448,602 shares of the company’s stock, valued at approximately $584,812,230.44. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,065,665 shares of company stock worth $73,051,442. Corporate insiders own 16.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CRDO shares. Susquehanna raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Stifel Nicolaus increased their price target on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 6th. TD Cowen boosted their price objective on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday, January 10th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Credo Technology Group presently has an average rating of “Buy” and a consensus price target of $74.90.

Credo Technology Group Stock Down 2.7 %

Shares of NASDAQ:CRDO opened at $49.18 on Wednesday. The firm has a fifty day moving average of $62.64 and a two-hundred day moving average of $53.56. 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 capitalization of $8.35 billion, a P/E ratio of -327.87 and a beta of 2.16.

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.