4,691 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 4,691 shares of the company’s stock, valued at approximately $315,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Credo Technology Group in the fourth quarter worth about $38,000. WASHINGTON TRUST Co bought a new position in shares of Credo Technology Group in the 4th quarter valued at about $43,000. Principal Securities Inc. grew its position in shares of Credo Technology Group by 626.1% during the 4th quarter. Principal Securities Inc. now owns 668 shares of the company’s stock worth $45,000 after buying an additional 576 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Credo Technology Group during the fourth quarter worth approximately $61,000. Finally, GAMMA Investing LLC lifted its holdings in Credo Technology Group by 56.3% in 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 period. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. The Goldman Sachs Group boosted their target price 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. Barclays raised their price target on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Credo Technology Group in a research report on Wednesday, March 5th. Finally, Bank of America dropped 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. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $74.90.

Credo Technology Group Stock Down 4.5 %

Shares of CRDO stock opened at $40.51 on Monday. The business has a fifty day simple moving average of $60.57 and a 200 day simple moving average of $53.92. The company has a market cap of $6.88 billion, a P/E ratio of -270.07 and a beta of 2.16. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69.

Insiders Place Their Bets

In other news, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $47.29, for a total transaction of $2,600,950.00. Following the completion of the transaction, the chief technology officer now directly owns 8,103,602 shares in the company, valued at approximately $383,219,338.58. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Yat Tung Lam sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $45.23, for a total value of $452,300.00. Following the sale, the chief operating officer now directly owns 2,802,447 shares in the company, valued at approximately $126,754,677.81. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,030,665 shares of company stock valued at $69,289,092. 16.04% of the stock is currently owned by corporate insiders.

About Credo Technology Group

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.