Aigen Investment Management LP Sells 2,483 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Aigen Investment Management LP decreased its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 28.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,309 shares of the company’s stock after selling 2,483 shares during the period. Aigen Investment Management LP’s holdings in Credo Technology Group were worth $424,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in shares of Credo Technology Group during the fourth quarter worth $700,000. Charles Schwab Investment Management Inc. increased its position in shares of Credo Technology Group by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company’s stock worth $79,289,000 after acquiring an additional 43,169 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Credo Technology Group during the fourth quarter worth $4,332,000. Plato Investment Management Ltd bought a new stake in shares of Credo Technology Group during the fourth quarter worth $61,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Credo Technology Group during the fourth quarter worth $178,000. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $43.70 on Friday. The stock has a market cap of $7.31 billion, a P/E ratio of -291.33 and a beta of 2.16. The company has a fifty day moving average price of $68.69 and a two-hundred day moving average price of $52.18. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $86.69.

Analyst Upgrades and Downgrades

CRDO has been the subject of several research reports. Susquehanna lowered their price objective on shares of Credo Technology Group from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday. Mizuho raised their target price on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a research report on Wednesday. TD Cowen raised their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Credo Technology Group has an average rating of “Moderate Buy” and an average price target of $74.90.

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $68.04, for a total transaction of $3,742,200.00. Following the completion of the sale, the chief technology officer now owns 8,508,602 shares in the company, valued at approximately $578,925,280.08. This trade represents a 0.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Yat Tung Lam sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $80.59, for a total transaction of $805,900.00. Following the sale, the chief operating officer now owns 2,825,621 shares of the company’s stock, valued at approximately $227,716,796.39. This represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,190,496 shares of company stock worth $82,695,512 over the last quarter. 16.04% of the stock is currently owned by insiders.

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.