UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 24.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,656 shares of the company's stock after acquiring an additional 59,937 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of Credo Technology Group worth $20,409,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CRDO. JPMorgan Chase & Co. lifted its stake in 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 in the last quarter. Nisa Investment Advisors LLC lifted its stake 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 valued at $225,000 after acquiring an additional 255 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Credo Technology Group during the 4th quarter valued at $353,000. KBC Group NV lifted its stake in Credo Technology Group by 48.1% during the 4th quarter. KBC Group NV now owns 5,661 shares of the company's stock valued at $380,000 after acquiring an additional 1,839 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Credo Technology Group by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 3,906 shares of the company's stock valued at $263,000 after acquiring an additional 907 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, insider James Laufman sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $39.09, for a total transaction of $312,720.00. Following the completion of the transaction, the insider now owns 271,725 shares in the company, valued at $10,621,730.25. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $49.77, for a total value of $2,737,350.00. Following the transaction, the chief technology officer now owns 8,048,602 shares of the company's stock, valued at $400,578,921.54. This represents a 0.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 473,665 shares of company stock valued at $19,795,531. 16.04% of the stock is owned by company insiders.

Credo Technology Group Stock Down 5.2%

Shares of CRDO traded down $3.29 during mid-day trading on Friday, hitting $60.54. 4,679,615 shares of the company's stock traded hands, compared to its average volume of 3,687,865. Credo Technology Group Holding Ltd has a 1 year low of $22.50 and a 1 year high of $86.69. The firm has a market capitalization of $10.28 billion, a P/E ratio of -403.60 and a beta of 2.29. The business's 50-day moving average price is $47.29 and its 200-day moving average price is $57.54.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRDO shares. Mizuho dropped their price objective on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Bank of America decreased their target price on 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. Stifel Nicolaus decreased their target price on Credo Technology Group from $85.00 to $69.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Susquehanna raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Barclays decreased their target price on Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $71.50.

Credo Technology Group Company 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.