10,290 Shares in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Purchased by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. purchased a new stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,290 shares of the company's stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRDO. Bank of New York Mellon Corp lifted its holdings in shares of Credo Technology Group by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 562,382 shares of the company's stock valued at $37,798,000 after purchasing an additional 36,949 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Credo Technology Group in the fourth quarter worth about $700,000. Charles Schwab Investment Management Inc. grew its position in shares of Credo Technology Group by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company's stock worth $79,289,000 after purchasing an additional 43,169 shares in the last quarter. Arizona State Retirement System grew its position in shares of Credo Technology Group by 1.2% during the fourth quarter. Arizona State Retirement System now owns 40,931 shares of the company's stock worth $2,751,000 after purchasing an additional 501 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Credo Technology Group during the fourth quarter worth about $27,236,000. 80.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRDO. Susquehanna restated a "positive" rating and set a $90.00 price target (up previously from $60.00) on shares of Credo Technology Group in a report on Tuesday, June 3rd. Roth Capital set a $95.00 price objective on Credo Technology Group and gave the company a "buy" rating in a research note on Friday, June 13th. TD Cowen raised their price target on Credo Technology Group from $85.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Needham & Company LLC raised their price target on Credo Technology Group from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Finally, Barclays set a $85.00 target price on Credo Technology Group and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $82.45.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, insider James Laufman sold 5,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $85.07, for a total transaction of $425,350.00. Following the sale, the insider owned 249,346 shares in the company, valued at approximately $21,211,864.22. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lip Bu Tan sold 12,248 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $93.22, for a total value of $1,141,758.56. Following the completion of the sale, the director owned 467,180 shares in the company, valued at $43,550,519.60. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,086,139 shares of company stock worth $75,820,113. 16.04% of the stock is currently owned by insiders.

Credo Technology Group Stock Performance

CRDO stock traded up $3.81 on Friday, hitting $93.18. 3,239,611 shares of the company's stock were exchanged, compared to its average volume of 4,136,955. The firm has a 50 day moving average price of $68.57 and a two-hundred day moving average price of $61.71. The stock has a market cap of $15.99 billion, a P/E ratio of 345.09, a price-to-earnings-growth ratio of 1.68 and a beta of 2.57. Credo Technology Group Holding Ltd. has a 12-month low of $22.50 and a 12-month high of $95.71.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Monday, June 2nd. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $170.00 million for the quarter, compared to the consensus estimate of $159.59 million. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%. The company's quarterly revenue was up 179.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS. Sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

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.