XTX Topco Ltd Makes New $446,000 Investment in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

XTX Topco Ltd bought a new stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the fourth quarter, Holdings Channel reports. The institutional investor bought 6,634 shares of the company’s stock, valued at approximately $446,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kestra Investment Management LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth about $38,000. WASHINGTON TRUST Co bought a new stake in Credo Technology Group during the fourth quarter worth approximately $43,000. Principal Securities Inc. lifted its stake in shares of Credo Technology Group by 626.1% in the 4th quarter. Principal Securities Inc. now owns 668 shares of the company’s stock valued at $45,000 after purchasing an additional 576 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Credo Technology Group in the 4th quarter worth approximately $61,000. Finally, GAMMA Investing LLC raised 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 valued at $65,000 after buying an additional 351 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Price Performance

CRDO stock opened at $34.86 on Tuesday. Credo Technology Group Holding Ltd has a 1-year low of $16.91 and a 1-year high of $86.69. The business has a 50-day moving average price of $47.85 and a 200 day moving average price of $54.85. The company has a market capitalization of $5.92 billion, a P/E ratio of -232.40 and a beta of 2.30.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $57.87, for a total transaction of $3,182,850.00. Following the sale, the chief technology officer now owns 8,213,602 shares of the company’s stock, valued at approximately $475,321,147.74. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction 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 completion of the transaction, the director now owns 5,902,402 shares in the company, valued at $395,224,837.92. This represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 563,665 shares of company stock valued at $27,972,613. Company insiders own 16.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRDO. Stifel Nicolaus cut their price objective on shares of Credo Technology Group from $85.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Bank of America decreased 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. Barclays increased their price target on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. The Goldman Sachs Group upped their price objective on Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Susquehanna upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $73.50.

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.