Calamos Advisors LLC Trims Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Calamos Advisors LLC lowered its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 59.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,840 shares of the company’s stock after selling 24,542 shares during the period. Calamos Advisors LLC’s holdings in Credo Technology Group were worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in shares of Credo Technology Group by 8.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $225,000 after acquiring an additional 255 shares during the last quarter. Assetmark Inc. boosted its holdings in Credo Technology Group by 5.4% in the 3rd quarter. Assetmark Inc. now owns 4,978 shares of the company’s stock valued at $153,000 after purchasing an additional 257 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Credo Technology Group by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock valued at $65,000 after purchasing an additional 351 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Credo Technology Group by 11.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company’s stock valued at $145,000 after purchasing an additional 478 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Credo Technology Group by 4.2% in the 3rd quarter. US Bancorp DE now owns 16,210 shares of the company’s stock valued at $499,000 after purchasing an additional 649 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRDO. 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 report on Monday, January 6th. Craig Hallum upped their price target on Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Roth Mkm upped their target price on shares of Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Mizuho upped their price objective on shares of Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group currently has an average rating of “Moderate Buy” and a consensus target price of $76.40.

Credo Technology Group Stock Up 4.4 %

Shares of CRDO stock opened at $79.59 on Thursday. 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 $13.31 billion, a PE ratio of -530.60 and a beta of 2.09. The firm has a 50 day moving average of $70.22 and a two-hundred day moving average of $46.85.

Insider Activity at Credo Technology Group

In other news, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Friday, January 31st. The shares were sold at an average price of $66.96, for a total transaction of $125,550.00. Following the completion of the sale, the director now directly owns 5,902,402 shares of the company’s stock, valued at approximately $395,224,837.92. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 of the company’s stock, valued at approximately $227,716,796.39. This trade represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,360,679 shares of company stock worth $92,467,592. Company insiders own 16.04% of the company’s stock.

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.