Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares Sold by Nebula Research & Development LLC

Nebula Research & Development LLC lowered its position in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,980 shares of the company's stock after selling 9,825 shares during the period. Credo Technology Group makes up approximately 0.4% of Nebula Research & Development LLC's investment portfolio, making the stock its 26th largest holding. Nebula Research & Development LLC's holdings in Credo Technology Group were worth $3,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Oberweis Asset Management Inc. boosted its stake in shares of Credo Technology Group by 15.8% during the 4th quarter. Oberweis Asset Management Inc. now owns 959,594 shares of the company's stock worth $64,494,000 after acquiring an additional 131,280 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Credo Technology Group by 441.6% in the 4th 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 Credo Technology Group by 160.4% during the fourth quarter. Hsbc Holdings PLC now owns 40,049 shares of the company's stock worth $2,756,000 after purchasing an additional 24,667 shares in the last quarter. Stifel Financial Corp grew its holdings in Credo Technology Group by 22.0% in the fourth 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. Finally, MetLife Investment Management LLC increased its position in shares of Credo Technology Group by 14.2% in the fourth quarter. MetLife Investment Management LLC now owns 84,079 shares of the company's stock valued at $5,651,000 after buying an additional 10,483 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CRDO shares. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Susquehanna raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Barclays decreased their price target on shares of Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and set a $80.00 price objective on shares of Credo Technology Group in a research note on Wednesday, March 5th. Finally, Bank of America decreased their target price on Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. 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. Based on data from MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and an average price target of $71.50.

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO traded up $0.14 during midday trading on Tuesday, reaching $43.18. 818,118 shares of the stock were exchanged, compared to its average volume of 3,547,986. Credo Technology Group Holding Ltd has a twelve month low of $16.91 and a twelve month high of $86.69. The stock has a market capitalization of $7.33 billion, a P/E ratio of -287.01 and a beta of 2.30. The company has a 50 day simple moving average of $44.80 and a 200 day simple moving average of $55.05.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the completion of the transaction, the director now directly owns 5,902,402 shares of the company's stock, valued at $395,224,837.92. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a legal 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 Tuesday, April 22nd. The shares were sold at an average price of $36.74, for a total transaction of $2,020,700.00. Following the completion of the transaction, the chief technology officer now directly owns 7,773,602 shares of the company's stock, valued at $285,602,137.48. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 563,665 shares of company stock worth $26,810,463 over the last quarter. 16.04% of the stock is currently owned by company insiders.

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.