Counterpoint Mutual Funds LLC cut its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO – Free Report) by 46.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,165 shares of the company’s stock after selling 3,676 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Credo Technology Group were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. increased its stake in shares of Credo Technology Group by 695.1% in the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock worth $35,000 after acquiring an additional 1,001 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Credo Technology Group in the fourth quarter worth $38,000. WASHINGTON TRUST Co acquired a new position in shares of Credo Technology Group in the fourth quarter worth $43,000. Principal Securities Inc. increased its stake in shares of Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company’s stock worth $45,000 after acquiring an additional 576 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Credo Technology Group by 240.0% in the third quarter. Larson Financial Group LLC now owns 1,982 shares of the company’s stock worth $61,000 after purchasing an additional 1,399 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.
Credo Technology Group Price Performance
CRDO stock opened at $44.07 on Wednesday. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69. The company has a 50-day moving average of $65.02 and a two-hundred day moving average of $52.92. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of -293.80 and a beta of 2.16.
Insider Buying and Selling at Credo Technology Group
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CRDO. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Credo Technology Group in a report on Wednesday, March 5th. Barclays upped their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Craig Hallum upped their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. TD Cowen upped their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, 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 report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Credo Technology Group currently has a consensus rating of “Buy” and an average price target of $74.90.
View Our Latest Stock Analysis on Credo Technology Group
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.
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