4,560 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Acquired by Dudley Capital Management LLC

Dudley Capital Management LLC purchased a new position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) during the fourth quarter, Holdings Channel.com reports. The firm purchased 4,560 shares of the company’s stock, valued at approximately $306,000.

Several other institutional investors have also made changes to their positions in CRDO. Nisa Investment Advisors LLC boosted its position in Credo Technology Group by 8.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $225,000 after acquiring an additional 255 shares during the period. GAMMA Investing LLC lifted its position in shares of Credo Technology Group by 56.3% in the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock worth $65,000 after purchasing an additional 351 shares in the last quarter. Amalgamated Bank lifted its position in shares of Credo Technology Group by 9.4% in the fourth quarter. Amalgamated Bank now owns 4,777 shares of the company’s stock worth $321,000 after purchasing an additional 411 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Credo Technology Group by 11.3% during the third 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 period. Finally, Arizona State Retirement System grew 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 valued at $2,751,000 after purchasing an additional 501 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Credo Technology Group

In other news, COO Yat Tung Lam sold 100,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $58.66, for a total value of $5,866,000.00. Following the completion of the sale, the chief operating officer now directly owns 2,825,621 shares in the company, valued at approximately $165,750,927.86. This trade represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 60,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $69.22, for a total transaction of $4,153,200.00. Following the completion of the sale, the chief technology officer now owns 8,448,602 shares of the company’s stock, valued at $584,812,230.44. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,065,665 shares of company stock valued at $73,051,442 in the last 90 days. 16.04% of the stock is owned by corporate insiders.

Credo Technology Group Stock Up 9.0 %

CRDO opened at $50.53 on Tuesday. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $86.69. The stock’s 50 day moving average price is $63.04 and its two-hundred day moving average price is $53.38. The firm has a market capitalization of $8.58 billion, a P/E ratio of -336.87 and a beta of 2.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRDO shares. TD Cowen lifted their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of Credo Technology Group in a research report on Wednesday, March 5th. Craig Hallum boosted their target price 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. Mizuho raised their price target on Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Stifel Nicolaus boosted their price target on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $74.90.

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.