Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stake Boosted by Emerald Advisers LLC

Emerald Advisers LLC lifted its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,507,019 shares of the company’s stock after acquiring an additional 58,229 shares during the quarter. Credo Technology Group makes up 2.0% of Emerald Advisers LLC’s portfolio, making the stock its 5th biggest holding. Emerald Advisers LLC owned 0.91% of Credo Technology Group worth $48,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank raised its position in Credo Technology Group by 9.7% during the fourth quarter. Amalgamated Bank now owns 16,449 shares of the company’s stock valued at $320,000 after acquiring an additional 1,454 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Credo Technology Group by 13.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 958,316 shares of the company’s stock valued at $18,658,000 after purchasing an additional 111,957 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Credo Technology Group in the 4th quarter valued at $1,377,000. Dimensional Fund Advisors LP boosted its holdings in Credo Technology Group by 20.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,573,707 shares of the company’s stock worth $30,642,000 after purchasing an additional 262,659 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Credo Technology Group by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 1,578,400 shares of the company’s stock worth $30,731,000 after buying an additional 8,746 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on Credo Technology Group from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Mkm upped their target price on Credo Technology Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on shares of Credo Technology Group from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group upped their price objective on shares of Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Friday. Finally, TD Cowen lifted their target price on shares of Credo Technology Group from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $24.38 on Friday. The stock has a market cap of $4.03 billion, a P/E ratio of -135.44 and a beta of 2.26. The company has a fifty day moving average price of $30.38 and a 200 day moving average price of $24.89. Credo Technology Group Holding Ltd has a one year low of $13.38 and a one year high of $36.80.

Insider Activity

In related news, COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $28.21, for a total transaction of $282,100.00. Following the transaction, the chief operating officer now directly owns 3,130,945 shares in the company, valued at $88,323,958.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Credo Technology Group news, COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.21, for a total transaction of $282,100.00. Following the sale, the chief operating officer now owns 3,130,945 shares in the company, valued at $88,323,958.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $32.06, for a total transaction of $1,763,300.00. Following the completion of the sale, the chief technology officer now directly owns 9,113,602 shares in the company, valued at approximately $292,182,080.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 892,310 shares of company stock valued at $27,376,087. 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.