2 days Ago By ABMN Staff
Russell Investments Group Ltd. lowered its holdings in Credo Technology Group Holding Ltd ( NASDAQ:CRDO – Free Report ) by 41.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.
The fund owned 44,932 shares of the company’s stock after selling 32,322 shares during the period. Russell Investments Group Ltd.’s holdings in Credo Technology Group were worth $3,020,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Credo Technology Group by 7.
4% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company’s stock worth $404,797,000 after buying an additional 909,578 shares during the last quarter.
Geode Capital Management LLC raised its position in Credo Technology Group by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 3,315,482 shares of the company’s stock worth $222,884,000 after acquiring an additional 138,686 shares during the period.
Principal Financial Group Inc. boosted its stake in Credo Technology Group by 22.7% in the third quarter.
Principal Financial Group Inc. now owns 1,993,968 shares of the company’s stock valued at $61,415,000 after acquiring an additional 368,518 shares during the last quarter. Norges Bank bought a new position in shares of Credo Technology Group during the 4th quarter valued at approximately $117,242,000.
Finally, Alliancebernstein L.P. increased its stake in shares of Credo Technology Group by 299.
9% during the 4th quarter. Alliancebernstein L.P.
now owns 1,740,982 shares of the company’s stock worth $117,011,000 after purchasing an additional 1,305,594 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.
Wall Street Analyst Weigh In Several research firms recently commented on CRDO. Bank of America dropped their price objective on Credo Technology Group from $83.00 to $75.
00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Stifel Nicolaus upped 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. Susquehanna raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Mizuho dropped their price objective on shares of Credo Technology Group from $90.
00 to $82.00 and set an “outperform” rating on the stock in a report on Thursday, April 3rd. Finally, Barclays lifted their target price on shares of Credo Technology Group from $80.
00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock.
Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of “Buy” and a consensus target price of $74.60.
Credo Technology Group Stock Down 3.7 % Shares of CRDO opened at $37.72 on Thursday.
Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69.
The stock has a market cap of $6.40 billion, a PE ratio of -251.47 and a beta of 2.
30. The business’s 50-day moving average price is $50.13 and its 200-day moving average price is $54.
41. Insider Activity at Credo Technology Group In related news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Friday, April 4th. The stock was sold at an average price of $32.
96, for a total transaction of $1,812,800.00. Following the completion of the sale, the chief technology officer now owns 7,938,602 shares of the company’s stock, valued at approximately $261,656,321.
92. This trade represents a 0.69 % decrease in their ownership of the stock.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website . Also, CFO Daniel W. Fleming sold 3,790 shares of the company’s stock in a transaction dated Friday, April 11th.
The stock was sold at an average price of $40.75, for a total value of $154,442.50.
Following the completion of the transaction, the chief financial officer now owns 608,602 shares in the company, valued at $24,800,531.50. This represents a 0.
62 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Over the last 90 days, insiders sold 578,665 shares of company stock valued at $31,561,763.
Corporate insiders own 16.04% of the company’s stock. Credo Technology Group Profile ( 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 Want to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd ( NASDAQ:CRDO – Free Report ).
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