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

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 13.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,726 shares of the company's stock after purchasing an additional 9,598 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Credo Technology Group were worth $5,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CRDO. Norges Bank acquired a new position in Credo Technology Group in the 4th quarter valued at about $117,242,000. Alliancebernstein L.P. increased its stake in shares of Credo Technology Group by 299.9% during the 4th quarter. Alliancebernstein L.P. now owns 1,740,982 shares of the company's stock valued at $117,011,000 after acquiring an additional 1,305,594 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Credo Technology Group by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company's stock valued at $404,797,000 after acquiring an additional 909,578 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Credo Technology Group by 441.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 975,935 shares of the company's stock valued at $65,594,000 after acquiring an additional 795,751 shares during the last quarter. Finally, Elemental Capital Partners LLC acquired a new position in shares of Credo Technology Group during the 4th quarter valued at about $43,171,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Mizuho dropped their price objective on shares of Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. 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. Susquehanna raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Bank of America dropped 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 note on Wednesday, March 5th. Finally, Barclays dropped their price objective on shares of Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Nine equities research 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 has an average rating of "Buy" and a consensus price target of $71.50.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 100,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 1,000,000 shares in the company, valued at $61,130,000. This represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pantas Sutardja sold 1,875 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $46.01, for a total value of $86,268.75. Following the completion of the transaction, the director now owns 5,900,527 shares of the company's stock, valued at approximately $271,483,247.27. This represents a 0.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 573,665 shares of company stock worth $25,908,531. 16.04% of the stock is currently owned by company insiders.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO traded up $1.00 during trading on Friday, reaching $61.78. 1,954,560 shares of the stock were exchanged, compared to its average volume of 3,720,705. Credo Technology Group Holding Ltd has a 12-month low of $19.72 and a 12-month high of $86.69. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of -411.87 and a beta of 2.29. The firm's 50-day moving average price is $45.82 and its 200 day moving average price is $56.88.

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.