Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. decreased its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 42.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,280 shares of the company's stock after selling 70,240 shares during the period. Hillsdale Investment Management Inc. owned 0.06% of Credo Technology Group worth $6,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRDO. Nisa Investment Advisors LLC increased its position in shares of Credo Technology Group by 8.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company's stock worth $225,000 after acquiring an additional 255 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Credo Technology Group by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company's stock valued at $65,000 after acquiring an additional 351 shares during the last quarter. Amalgamated Bank boosted its holdings in Credo Technology Group by 9.4% during the fourth 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. lifted its position in shares of Credo Technology Group by 11.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company's stock worth $145,000 after purchasing an additional 478 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Credo Technology Group by 1.2% during the fourth quarter. Arizona State Retirement System now owns 40,931 shares of the company's stock worth $2,751,000 after acquiring an additional 501 shares during the period. Institutional investors own 80.46% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRDO. Bank of America lowered 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 report on Wednesday, March 5th. Craig Hallum lifted their target price on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a report on Friday, January 10th. Stifel Nicolaus lifted their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Barclays boosted their target price on Credo Technology Group from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $74.90.

Insider Activity

In related news, COO Yat Tung Lam sold 100,000 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $69.52, for a total transaction of $6,952,000.00. Following the completion of the transaction, the chief operating officer now directly owns 300,000 shares in the company, valued at approximately $20,856,000. The trade was a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lip Bu Tan sold 150,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $76.09, for a total transaction of $11,413,500.00. Following the transaction, the director now 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,120,665 shares of company stock valued at $75,788,792. Corporate insiders own 16.04% of the company's stock.

Credo Technology Group Stock Performance

Credo Technology Group stock traded down $4.23 during mid-day trading on Wednesday, hitting $44.95. 4,789,888 shares of the company traded hands, compared to its average volume of 3,232,697. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of -299.67 and a beta of 2.16. The stock has a fifty day moving average price of $62.64 and a 200-day moving average price of $53.56. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year 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.