Headlands Technologies LLC Increases Stock Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Headlands Technologies LLC raised its position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 94.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,614 shares of the company's stock after buying an additional 6,630 shares during the quarter. Headlands Technologies LLC's holdings in Credo Technology Group were worth $915,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CRDO. Kestra Investment Management LLC purchased a new stake in shares of Credo Technology Group in the fourth quarter valued at $38,000. WASHINGTON TRUST Co purchased a new stake in Credo Technology Group in the 4th quarter worth about $43,000. Principal Securities Inc. lifted its stake in Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company's stock worth $45,000 after purchasing an additional 576 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Credo Technology Group during the fourth quarter valued at approximately $61,000. Finally, GAMMA Investing LLC grew its stake in shares of Credo Technology Group by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company's stock valued at $65,000 after buying an additional 351 shares during the last quarter. Institutional investors own 80.46% of the company's stock.

Insider Buying and Selling at Credo Technology Group

In related news, COO Yat Tung Lam sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $80.59, for a total transaction of $805,900.00. Following the completion of the transaction, the chief operating officer now owns 2,825,621 shares in the company, valued at $227,716,796.39. The trade was a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lip Bu Tan sold 150,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $76.09, for a total transaction of $11,413,500.00. Following the sale, the director now directly owns 1,113,725 shares of the company's stock, valued at $84,743,335.25. The trade was a 11.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 980,665 shares of company stock worth $65,566,692 over the last quarter. Insiders own 16.04% of the company's stock.

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Analysts Set New Price Targets

CRDO has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Credo Technology Group from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Susquehanna upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Mizuho decreased their price objective on shares of Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating for the company in a report on Thursday. The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Finally, Bank of America reduced their target price 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $74.60.

Credo Technology Group Trading Down 10.3 %

Shares of NASDAQ:CRDO traded down $3.84 on Friday, reaching $33.30. The company had a trading volume of 8,422,367 shares, compared to its average volume of 3,414,378. The firm has a market capitalization of $5.65 billion, a PE ratio of -222.00 and a beta of 2.30. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69. The firm's 50 day simple moving average is $56.25 and its 200-day simple moving average is $54.13.

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.