Fox Run Management L.L.C. Sells 23,762 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Fox Run Management L.L.C. cut its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 85.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,896 shares of the company's stock after selling 23,762 shares during the quarter. Fox Run Management L.L.C.'s holdings in Credo Technology Group were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in Credo Technology Group by 8.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company's stock valued at $225,000 after buying an additional 255 shares during the period. GAMMA Investing LLC increased its stake in shares of Credo Technology Group by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company's stock worth $65,000 after acquiring an additional 351 shares in the last quarter. Amalgamated Bank lifted its position in Credo Technology Group by 9.4% during the 4th quarter. Amalgamated Bank now owns 4,777 shares of the company's stock valued at $321,000 after acquiring an additional 411 shares during the period. Advisors Asset Management Inc. boosted its stake in Credo Technology Group by 11.3% during the third quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company's stock worth $145,000 after acquiring an additional 478 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Credo Technology Group by 1.2% in the fourth quarter. Arizona State Retirement System now owns 40,931 shares of the company's stock worth $2,751,000 after purchasing an additional 501 shares during the period. 80.46% of the stock is currently owned by institutional investors.

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Credo Technology Group Stock Up 3.9 %

Shares of NASDAQ CRDO traded up $1.56 during trading on Tuesday, reaching $41.72. 3,723,763 shares of the company traded hands, compared to its average volume of 3,350,619. The firm has a 50 day simple moving average of $58.98 and a 200-day simple moving average of $54.10. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69. The stock has a market capitalization of $7.08 billion, a PE ratio of -278.13 and a beta of 2.16.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Susquehanna raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Stifel Nicolaus increased their target price on Credo Technology Group from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. TD Cowen lifted their price target on Credo Technology Group from $45.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, Bank of America cut their price objective on shares of Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Nine equities research 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, the company has a consensus rating of "Buy" and an average target price of $74.90.

Insider Buying and Selling

In other news, CTO Chi Fung Cheng sold 60,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $69.22, for a total value of $4,153,200.00. Following the transaction, the chief technology officer now directly owns 8,448,602 shares in the company, valued at $584,812,230.44. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Lip Bu Tan sold 150,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $76.09, for a total value of $11,413,500.00. Following the sale, the director now owns 1,113,725 shares of the company's stock, valued at approximately $84,743,335.25. This trade represents a 11.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,030,665 shares of company stock worth $69,289,092. 16.04% of the stock is owned by insiders.

Credo Technology Group 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.