Susquehanna Fundamental Investments LLC Purchases Shares of 106,541 Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Susquehanna Fundamental Investments LLC acquired a new position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 106,541 shares of the company's stock, valued at approximately $7,161,000. Susquehanna Fundamental Investments LLC owned about 0.06% of Credo Technology Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in Credo Technology Group during the 4th quarter worth approximately $38,000. WASHINGTON TRUST Co bought a new position in Credo Technology Group during the fourth quarter worth $43,000. Principal Securities Inc. lifted its holdings 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 buying an additional 576 shares during the period. Plato Investment Management Ltd bought a new stake in Credo Technology Group during the fourth quarter valued at $61,000. Finally, GAMMA Investing LLC grew its holdings in Credo Technology Group by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company's stock worth $65,000 after acquiring an additional 351 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Insider Activity 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 on Monday, April 14th. The shares were sold at an average price of $39.09, for a total value of $312,720.00. Following the completion of the transaction, the insider now directly owns 271,725 shares of the company's stock, valued at $10,621,730.25. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $47.29, for a total transaction of $2,600,950.00. Following the transaction, the chief technology officer now owns 8,103,602 shares of the company's stock, valued at $383,219,338.58. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 518,665 shares of company stock worth $23,306,713. 16.04% of the stock is owned by corporate insiders.

Credo Technology Group Stock Up 7.1 %

Credo Technology Group stock traded up $3.08 during midday trading on Thursday, reaching $46.13. The stock had a trading volume of 2,243,521 shares, compared to its average volume of 3,563,515. The firm has a market capitalization of $7.83 billion, a PE ratio of -307.57 and a beta of 2.30. Credo Technology Group Holding Ltd has a 12 month low of $16.91 and a 12 month high of $86.69. The firm's 50-day moving average price is $43.77 and its 200 day moving average price is $54.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho cut their price target on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Susquehanna upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Needham & Company LLC reiterated a "buy" rating and set a $80.00 price objective on shares of Credo Technology Group in a report on Wednesday, March 5th. Barclays cut their price target on Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus lowered their target price on shares of Credo Technology Group from $85.00 to $69.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $71.50.

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.