MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,726 shares of the company’s stock after purchasing an additional 9,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Credo Technology Group were worth $5,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new position in Credo Technology Group in the fourth quarter worth approximately $38,000. WASHINGTON TRUST Co purchased a new stake in shares of Credo Technology Group during the 4th quarter worth $43,000. Principal Securities Inc. grew its stake in shares of Credo Technology Group by 626.1% during the fourth quarter. Principal Securities Inc. now owns 668 shares of the company’s stock worth $45,000 after purchasing an additional 576 shares in the last quarter. Quarry LP purchased a new position in Credo Technology Group in the fourth quarter valued at $58,000. Finally, Plato Investment Management Ltd acquired a new stake in Credo Technology Group in the fourth quarter valued at $61,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 100,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $61.13, for a total transaction of $6,113,000.00. Following the completion of the sale, the chief operating officer now directly owns 1,000,000 shares of the company’s stock, valued at approximately $61,130,000. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Laufman sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $39.09, for a total value of $312,720.00. Following the completion of the transaction, the insider now directly owns 271,725 shares in the company, valued at approximately $10,621,730.25. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 573,665 shares of company stock worth $25,908,531. 16.04% of the stock is owned by company insiders.

Credo Technology Group Price Performance

CRDO stock opened at $60.13 on Monday. The company has a market cap of $10.21 billion, a price-to-earnings ratio of -400.87 and a beta of 2.29. The company has a fifty day moving average price of $44.34 and a 200 day moving average price of $56.30. Credo Technology Group Holding Ltd has a 12 month low of $18.54 and a 12 month high of $86.69.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRDO shares. Susquehanna raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Mizuho dropped their price target on shares of 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. Bank of America cut their price objective 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. Barclays lowered their target price on shares of Credo Technology Group from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus cut their price target on shares of Credo Technology Group from $85.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Credo Technology Group presently has a consensus rating of “Buy” and a consensus target price of $71.50.

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.