EAM Global Investors LLC Takes $6.30 Million Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

EAM Global Investors LLC bought a new position in Credo Technology Group Holding Ltd (NASDAQ:CRDO) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 93,724 shares of the company’s stock, valued at approximately $6,299,000. Credo Technology Group comprises about 1.1% of EAM Global Investors LLC’s holdings, making the stock its 18th largest holding.

A number of other institutional investors have also recently bought and sold shares of the stock. EAM Investors LLC grew its stake in shares of Credo Technology Group by 20.1% in the fourth quarter. EAM Investors LLC now owns 121,738 shares of the company’s stock valued at $8,182,000 after buying an additional 20,407 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Credo Technology Group during the fourth quarter valued at approximately $17,600,000. XTX Topco Ltd acquired a new position in shares of Credo Technology Group during the fourth quarter worth $446,000. Mariner LLC purchased a new position in shares of Credo Technology Group in the fourth quarter valued at $314,000. Finally, Barclays PLC grew its holdings in Credo Technology Group by 11.1% during the 4th quarter. Barclays PLC now owns 266,543 shares of the company’s stock valued at $17,916,000 after purchasing an additional 26,581 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price target on shares of Credo Technology Group in a report on Wednesday, March 5th. Stifel Nicolaus lifted their price target on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays increased their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price 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. Finally, Mizuho reduced their price target on shares of Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating on the stock in a research report on Thursday, April 3rd. 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, the company currently has an average rating of “Buy” and an average target price of $74.60.

Credo Technology Group Trading Up 0.2 %

CRDO opened at $39.18 on Wednesday. The stock has a fifty day moving average price of $50.92 and a 200 day moving average price of $54.53. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of -261.20 and a beta of 2.30.

Insider Buying and Selling

In other news, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $66.96, for a total value of $125,550.00. Following the transaction, the director now owns 5,902,402 shares of the company’s stock, valued at $395,224,837.92. This trade represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel W. Fleming sold 3,790 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $40.75, for a total transaction of $154,442.50. Following the completion of the transaction, the chief financial officer now owns 608,602 shares in the company, valued at $24,800,531.50. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 570,665 shares of company stock worth $31,249,043. Corporate insiders own 16.04% of the company’s stock.

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.