Zevenbergen Capital Investments LLC Has $6.27 Million Stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Zevenbergen Capital Investments LLC lifted its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,350 shares of the company's stock after buying an additional 22,025 shares during the quarter. Zevenbergen Capital Investments LLC owned about 0.06% of Credo Technology Group worth $6,274,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CRDO. Point72 Hong Kong Ltd bought a new stake in Credo Technology Group in the third quarter worth approximately $3,948,000. Wellington Management Group LLP boosted its holdings in Credo Technology Group by 32.7% in the third quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company's stock worth $88,188,000 after purchasing an additional 705,512 shares in the last quarter. Centiva Capital LP bought a new stake in Credo Technology Group in the third quarter worth $553,000. Charles Schwab Investment Management Inc. increased its position in Credo Technology Group by 9.2% during 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 raised its holdings in Credo Technology Group by 94.1% during 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. Institutional investors and hedge funds own 80.46% of the company's stock.

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Insiders Place Their Bets

In other Credo Technology Group news, COO Yat Tung Lam sold 10,000 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $45.23, for a total value of $452,300.00. Following the sale, the chief operating officer now owns 2,802,447 shares of the company's stock, valued at $126,754,677.81. The trade was a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pantas Sutardja sold 1,875 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $66.96, for a total transaction 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. The trade was a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,130,665 shares of company stock worth $76,241,092. 16.04% of the stock is currently owned by company insiders.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO traded down $1.92 during mid-day trading on Friday, hitting $40.51. The company had a trading volume of 3,010,017 shares, compared to its average volume of 3,334,164. 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 cap of $6.88 billion, a P/E ratio of -270.07 and a beta of 2.16. The business's 50-day simple moving average is $60.57 and its 200-day simple moving average is $53.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRDO. Barclays increased their price objective on Credo Technology Group from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, January 17th. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Stifel Nicolaus upped their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Mizuho lifted their target price on shares of Credo Technology Group from $70.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Finally, TD Cowen upped their price target on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $74.90.

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.