Calamos Advisors LLC Has $1.13 Million Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Calamos Advisors LLC reduced its holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 59.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,840 shares of the company's stock after selling 24,542 shares during the quarter. Calamos Advisors LLC's holdings in Credo Technology Group were worth $1,132,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CRDO. Renaissance Capital LLC acquired a new position in shares of Credo Technology Group in the fourth quarter valued at $9,601,000. China Universal Asset Management Co. Ltd. acquired a new position in Credo Technology Group during the 4th quarter worth approximately $1,311,000. Fortitude Advisory Group L.L.C. acquired a new position in Credo Technology Group in the 4th quarter worth about $349,000. Pacer Advisors Inc. lifted its holdings in shares of Credo Technology Group by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 3,906 shares of the company's stock worth $263,000 after purchasing an additional 907 shares during the period. Finally, KBC Group NV increased its position in shares of Credo Technology Group by 48.1% during the fourth quarter. KBC Group NV now owns 5,661 shares of the company's stock worth $380,000 after buying an additional 1,839 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 12,504 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $48.48, for a total transaction of $606,193.92. Following the completion of the transaction, the chief financial officer now directly owns 656,456 shares of the company's stock, valued at approximately $31,824,986.88. This trade represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lip Bu Tan sold 150,000 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $76.09, for a total value of $11,413,500.00. Following the sale, the director now directly owns 1,113,725 shares of the company's stock, valued at approximately $84,743,335.25. This represents a 11.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,305,679 shares of company stock worth $89,862,242 in the last three months. 16.04% of the stock is owned by insiders.

Credo Technology Group Stock Performance

Credo Technology Group stock traded down $2.36 during trading on Friday, reaching $77.28. The company had a trading volume of 4,200,550 shares, compared to its average volume of 5,690,025. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of -515.20 and a beta of 2.09. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $86.69. The stock's 50 day moving average price is $71.46 and its two-hundred day moving average price is $47.41.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CRDO shares. Mizuho upped their target price on shares of Credo Technology Group from $70.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Roth Mkm raised their price objective on Credo Technology Group from $35.00 to $45.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Craig Hallum boosted their price target on Credo Technology Group from $38.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Barclays boosted their price objective 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. Finally, Stifel Nicolaus upped their target price on shares of 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 research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.40.

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.