Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Acquired by Oberweis Asset Management Inc.

Oberweis Asset Management Inc. raised its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 959,594 shares of the company's stock after acquiring an additional 131,280 shares during the period. Credo Technology Group comprises approximately 3.0% of Oberweis Asset Management Inc.'s holdings, making the stock its largest holding. Oberweis Asset Management Inc. owned 0.57% of Credo Technology Group worth $64,494,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in Credo Technology Group by 441.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 975,935 shares of the company's stock worth $65,594,000 after purchasing an additional 795,751 shares during the period. Hsbc Holdings PLC boosted its position in shares of Credo Technology Group by 160.4% during the 4th quarter. Hsbc Holdings PLC now owns 40,049 shares of the company's stock valued at $2,756,000 after acquiring an additional 24,667 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Credo Technology Group by 22.0% in the 4th quarter. Stifel Financial Corp now owns 155,673 shares of the company's stock valued at $10,463,000 after purchasing an additional 28,100 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Credo Technology Group by 14.2% in the 4th quarter. MetLife Investment Management LLC now owns 84,079 shares of the company's stock worth $5,651,000 after buying an additional 10,483 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Credo Technology Group by 3.6% during the 4th quarter. First Trust Advisors LP now owns 183,870 shares of the company's stock worth $12,358,000 after buying an additional 6,340 shares during the period. Institutional investors and hedge funds own 80.46% of the company's stock.

Insider Activity at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $36.74, for a total value of $2,020,700.00. Following the completion of the transaction, the chief technology officer now owns 7,773,602 shares in the company, valued at $285,602,137.48. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Yat Tung Lam sold 100,000 shares of the company's stock in a transaction dated 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 sale, the chief operating officer now owns 2,825,621 shares in the company, valued at $165,750,927.86. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 563,665 shares of company stock worth $26,810,463 in the last quarter. Corporate insiders own 16.04% of the company's stock.

Credo Technology Group Trading Down 2.4 %

Shares of CRDO stock traded down $1.04 on Monday, reaching $42.64. The company had a trading volume of 1,803,882 shares, compared to its average volume of 3,553,438. The stock has a market cap of $7.24 billion, a PE ratio of -283.91 and a beta of 2.30. The company has a 50-day moving average of $45.38 and a 200-day moving average of $55.02. Credo Technology Group Holding Ltd has a 12 month low of $16.91 and a 12 month high of $86.69.

Analyst Ratings Changes

A number of research analysts have issued reports on CRDO shares. Needham & Company LLC reissued a "buy" rating and set a $80.00 price objective on shares of Credo Technology Group in a report on Wednesday, March 5th. Susquehanna raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Stifel Nicolaus reduced 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 report on Thursday, April 17th. Bank of America lowered their price objective on shares of Credo Technology Group from $83.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Finally, Mizuho reduced their target price on shares of Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Nine investment 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.com, Credo Technology Group presently has a consensus rating of "Buy" and a consensus price target of $71.50.

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.