63,000 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Bought by Andar Capital Management HK Ltd

Andar Capital Management HK Ltd acquired a new position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 63,000 shares of the company’s stock, valued at approximately $2,012,000. Credo Technology Group accounts for about 2.8% of Andar Capital Management HK Ltd’s holdings, making the stock its 16th largest holding.

Other large investors have also modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in shares of Credo Technology Group during the 2nd quarter worth $29,000. Fifth Third Bancorp boosted its holdings in shares of Credo Technology Group by 59.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 400 shares during the period. CWM LLC boosted its holdings in shares of Credo Technology Group by 78.1% during the 2nd quarter. CWM LLC now owns 1,355 shares of the company’s stock worth $43,000 after buying an additional 594 shares during the period. Ulland Investment Advisors LLC bought a new stake in shares of Credo Technology Group during the 1st quarter worth $29,000. Finally, Cranbrook Wealth Management LLC bought a new stake in Credo Technology Group in the 2nd quarter valued at $51,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $27.24 on Wednesday. The company has a 50-day moving average of $29.71 and a 200-day moving average of $25.13. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of -151.33 and a beta of 2.26. Credo Technology Group Holding Ltd has a 52 week low of $13.38 and a 52 week high of $36.80.

Analyst Upgrades and Downgrades

CRDO has been the subject of a number of research reports. Stifel Nicolaus increased their price target on shares of Credo Technology Group from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Craig Hallum increased their price target on shares of Credo Technology Group from $30.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Barclays increased their price target on shares of Credo Technology Group from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Roth Mkm increased their price target on shares of Credo Technology Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, TD Cowen raised shares of Credo Technology Group to a “strong-buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

Insider Transactions at Credo Technology Group

In related news, Director Lip Bu Tan sold 45,476 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $31.76, for a total transaction of $1,444,317.76. Following the completion of the sale, the director now owns 39,736 shares in the company, valued at approximately $1,262,015.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lip Bu Tan sold 45,476 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $31.76, for a total transaction of $1,444,317.76. Following the completion of the sale, the director now owns 39,736 shares in the company, valued at approximately $1,262,015.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $28.22, for a total transaction of $1,552,100.00. Following the sale, the chief technology officer now owns 9,058,602 shares of the company’s stock, valued at approximately $255,633,748.44. The disclosure for this sale can be found here. In the last three months, insiders sold 1,036,190 shares of company stock valued at $31,033,447. Company insiders own 23.89% of the company’s stock.

Credo Technology Group Profile

Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.