Alpha DNA Investment Management LLC Invests $467,000 in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Alpha DNA Investment Management LLC purchased a new stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,948 shares of the company's stock, valued at approximately $467,000.

Several other large investors have also made changes to their positions in the company. Kestra Investment Management LLC bought a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $38,000. WASHINGTON TRUST Co acquired a new position in Credo Technology Group during the 4th quarter worth $43,000. Principal Securities Inc. boosted its holdings in Credo Technology Group by 626.1% during the fourth quarter. Principal Securities Inc. now owns 668 shares of the company's stock valued at $45,000 after acquiring an additional 576 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at about $61,000. Finally, GAMMA Investing LLC boosted its stake in Credo Technology Group by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company's stock valued at $65,000 after purchasing an additional 351 shares during the period. Institutional investors own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

CRDO has been the subject of several research analyst reports. Bank of America cut their target price on shares of Credo Technology Group from $83.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Stifel Nicolaus decreased their target price on Credo Technology Group from $85.00 to $69.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group raised their price objective on Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Susquehanna upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Barclays decreased their price target on shares of Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of "Buy" and an average price target of $71.50.

Insider Activity

In related news, CFO Daniel W. Fleming sold 3,790 shares of Credo Technology Group stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $40.75, for a total transaction of $154,442.50. Following the completion of the sale, the chief financial officer now directly owns 608,602 shares of the company's stock, valued at approximately $24,800,531.50. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 563,665 shares of company stock valued at $27,972,613 over the last ninety days. 16.04% of the stock is currently owned by company insiders.

Credo Technology Group Trading Up 8.1 %

Shares of CRDO traded up $3.00 during midday trading on Wednesday, reaching $40.02. The stock had a trading volume of 2,263,888 shares, compared to its average volume of 3,520,136. The firm has a market cap of $6.80 billion, a PE ratio of -266.80 and a beta of 2.30. The firm has a 50 day simple moving average of $47.18 and a 200-day simple moving average of $54.72. Credo Technology Group Holding Ltd has a one year low of $16.91 and a one year high of $86.69.

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.