Jump Financial LLC acquired a new position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 261,863 shares of the company's stock, valued at approximately $17,600,000. Jump Financial LLC owned 0.16% of Credo Technology Group as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Credo Technology Group during the 4th quarter worth about $117,242,000. Alliancebernstein L.P. lifted its position in Credo Technology Group by 299.9% during the fourth quarter. Alliancebernstein L.P. now owns 1,740,982 shares of the company's stock worth $117,011,000 after acquiring an additional 1,305,594 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Credo Technology Group by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company's stock valued at $404,797,000 after acquiring an additional 909,578 shares during the period. Elemental Capital Partners LLC acquired a new position in shares of Credo Technology Group during the 4th quarter worth approximately $43,171,000. Finally, Invesco Ltd. lifted its position in shares of Credo Technology Group by 589.7% during the 4th quarter. Invesco Ltd. now owns 535,684 shares of the company's stock valued at $36,003,000 after acquiring an additional 458,015 shares during the period. 80.46% of the stock is owned by institutional investors.
Insider Buying and Selling at Credo Technology Group
In other news, COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $80.59, for a total transaction of $805,900.00. Following the sale, the chief operating officer now directly 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 document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel W. Fleming sold 3,790 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $40.75, for a total transaction of $154,442.50. Following the transaction, the chief financial officer now directly owns 608,602 shares of the company's stock, valued at $24,800,531.50. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 633,665 shares of company stock worth $33,612,713. Corporate insiders own 16.04% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Mizuho reduced their price objective on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Stifel Nicolaus reduced their target price on Credo Technology Group from $85.00 to $69.00 and set a "buy" rating on the stock in a report on Thursday. The Goldman Sachs Group boosted their price objective on Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Needham & Company LLC restated a "buy" rating and issued a $80.00 price target on shares of Credo Technology Group in a report on Wednesday, March 5th. Finally, Susquehanna upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Credo Technology Group presently has an average rating of "Buy" and an average target price of $73.50.
Read Our Latest Report on CRDO
Credo Technology Group Stock Performance
Shares of Credo Technology Group stock traded down $1.20 on Friday, hitting $36.52. The company had a trading volume of 2,408,216 shares, compared to its average volume of 3,508,314. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of -243.47 and a beta of 2.30. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69. The stock has a 50 day moving average of $48.58 and a 200-day moving average of $54.50.
About Credo Technology Group
(
Free Report)
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.
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