Headlands Technologies LLC Increases Holdings in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Headlands Technologies LLC grew its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 94.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 13,614 shares of the company’s stock after acquiring an additional 6,630 shares during the period. Headlands Technologies LLC’s holdings in Credo Technology Group were worth $915,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CRDO. Nisa Investment Advisors LLC increased 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 purchasing an additional 255 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Credo Technology Group by 51.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,028 shares of the company’s stock valued at $75,000 after acquiring an additional 348 shares in the last quarter. GAMMA Investing LLC raised its holdings in Credo Technology Group by 56.3% in 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 last quarter. Amalgamated Bank lifted its position in Credo Technology Group by 9.4% in the 4th quarter. Amalgamated Bank now owns 4,777 shares of the company’s stock valued at $321,000 after acquiring an additional 411 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Credo Technology Group by 1.2% during the 4th quarter. Arizona State Retirement System now owns 40,931 shares of the company’s stock valued at $2,751,000 after purchasing an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Transactions at Credo Technology Group

In other news, Director Lip Bu Tan sold 150,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $76.09, for a total transaction of $11,413,500.00. Following the sale, the director now directly owns 1,113,725 shares in the company, valued at $84,743,335.25. This trade represents a 11.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $72.09, for a total transaction of $4,325,400.00. Following the completion of the transaction, the chief technology officer now directly owns 8,388,602 shares of the company’s stock, valued at $604,734,318.18. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 970,665 shares of company stock valued at $65,135,892 over the last quarter. 16.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. Bank of America dropped their price target on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Barclays boosted their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Susquehanna upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of Credo Technology Group in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $74.90.

Credo Technology Group Stock Performance

Shares of Credo Technology Group stock opened at $43.04 on Thursday. The stock has a market cap of $7.31 billion, a P/E ratio of -286.93 and a beta of 2.16. The stock’s fifty day moving average is $58.13 and its 200 day moving average is $54.03. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $86.69.

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.