Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC decreased its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 24.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,285 shares of the company's stock after selling 8,330 shares during the quarter. Guggenheim Capital LLC's holdings in Credo Technology Group were worth $1,767,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Credo Technology Group during the 4th quarter valued at $700,000. Pacer Advisors Inc. lifted its stake in shares of Credo Technology Group by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 3,906 shares of the company's stock valued at $263,000 after buying an additional 907 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Credo Technology Group by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company's stock worth $79,289,000 after acquiring an additional 43,169 shares during the period. Principal Financial Group Inc. increased its position in shares of Credo Technology Group by 22.7% during the third quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company's stock valued at $61,415,000 after buying an additional 368,518 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in Credo Technology Group by 3.4% during the fourth quarter. Vontobel Holding Ltd. now owns 19,584 shares of the company's stock valued at $1,316,000 after acquiring an additional 635 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRDO shares. Mizuho dropped their price target on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Susquehanna upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. The Goldman Sachs Group upped their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a report on Friday, January 10th. Bank of America decreased 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. Finally, Barclays decreased their price objective on shares of Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $71.50.

Insider Buying and Selling at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 3,790 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $40.75, for a total value of $154,442.50. Following the transaction, the chief financial officer now owns 608,602 shares of the company's stock, valued at $24,800,531.50. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction dated Friday, April 4th. The shares were 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 directly 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 disclosure for this sale can be found here. Insiders have sold 563,665 shares of company stock valued at $27,972,613 in the last quarter. 16.04% of the stock is owned by insiders.

Credo Technology Group Stock Up 5.6 %

NASDAQ:CRDO traded up $2.29 during mid-day trading on Thursday, hitting $42.78. 1,198,236 shares of the stock traded hands, compared to its average volume of 3,529,462. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of -284.34 and a beta of 2.30. The firm's 50 day moving average is $46.58 and its two-hundred day moving average is $54.62. Credo Technology Group Holding Ltd has a 52 week low of $16.91 and a 52 week 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.