GAMMA Investing LLC Has $65,000 Stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

GAMMA Investing LLC raised its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 56.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 974 shares of the company’s stock after purchasing an additional 351 shares during the quarter. GAMMA Investing LLC’s holdings in Credo Technology Group were worth $65,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CRDO. Rhumbline Advisers raised its holdings in shares of Credo Technology Group by 13.1% in the second quarter. Rhumbline Advisers now owns 181,973 shares of the company’s stock valued at $5,812,000 after buying an additional 21,132 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Credo Technology Group by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,112,656 shares of the company’s stock worth $67,473,000 after acquiring an additional 242,428 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Credo Technology Group by 10.0% during the second quarter. Renaissance Technologies LLC now owns 865,938 shares of the company’s stock worth $27,658,000 after purchasing an additional 78,700 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Credo Technology Group during the second quarter valued at approximately $869,000. Finally, Connors Investor Services Inc. increased its holdings in shares of Credo Technology Group by 2.5% in the second quarter. Connors Investor Services Inc. now owns 125,326 shares of the company’s stock valued at $4,003,000 after purchasing an additional 3,034 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO opened at $73.80 on Monday. The firm has a 50 day moving average price of $59.91 and a 200 day moving average price of $41.67. The stock has a market cap of $12.34 billion, a P/E ratio of -492.00 and a beta of 2.11. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $78.97.

Analyst Ratings Changes

CRDO has been the topic of a number of recent research reports. TD Cowen increased their price objective on Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday. Barclays boosted their price objective on Credo Technology Group from $32.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Craig Hallum increased their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, 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 report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Insider Activity

In other news, CFO Daniel W. Fleming sold 12,504 shares of the firm’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 sale, the chief financial officer now owns 656,456 shares of the company’s stock, valued at $31,824,986.88. This trade represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $39.24, for a total value of $2,158,200.00. Following the completion of the transaction, the chief technology officer now owns 8,838,602 shares of the company’s stock, valued at $346,826,742.48. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 875,014 shares of company stock valued at $57,132,400 in the last quarter. Company insiders own 16.04% of the company’s stock.

About Credo Technology Group

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.