Gotham Asset Management LLC Has $300,000 Stock Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Gotham Asset Management LLC lowered its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 83.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,466 shares of the company's stock after selling 22,660 shares during the quarter. Gotham Asset Management LLC's holdings in Credo Technology Group were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new position in Credo Technology Group in the 4th quarter valued at about $38,000. WASHINGTON TRUST Co acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $43,000. Principal Securities Inc. increased its stake in Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company's stock valued at $45,000 after acquiring an additional 576 shares during the last quarter. Quarry LP bought a new position in Credo Technology Group in the fourth quarter valued at approximately $58,000. Finally, Plato Investment Management Ltd acquired a new position in Credo Technology Group during the fourth quarter valued at approximately $61,000. Institutional investors own 80.46% of the company's stock.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $48.02, for a total transaction of $2,641,100.00. Following the sale, the chief technology officer now owns 7,663,602 shares of the company's stock, valued at approximately $368,006,168.04. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Yat Tung Lam sold 100,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $61.13, for a total value of $6,113,000.00. Following the sale, the chief operating officer now owns 1,000,000 shares of the company's stock, valued at approximately $61,130,000. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 573,665 shares of company stock worth $25,908,531. Insiders own 16.04% of the company's stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of recent analyst reports. Barclays decreased their target price on Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America decreased their price target 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. Stifel Nicolaus dropped their price objective on shares of Credo Technology Group from $85.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and issued a $80.00 target price on shares of Credo Technology Group in a research report on Wednesday, March 5th. Finally, Susquehanna raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and an average target price of $71.50.

Credo Technology Group Price Performance

NASDAQ CRDO traded up $1.00 on Friday, reaching $61.78. The company had a trading volume of 1,954,560 shares, compared to its average volume of 3,720,705. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of -411.87 and a beta of 2.29. Credo Technology Group Holding Ltd has a fifty-two week low of $19.72 and a fifty-two week high of $86.69. The business has a 50 day moving average of $45.82 and a two-hundred day moving average of $56.88.

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.