Janus Henderson Group PLC Buys 10,496 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Janus Henderson Group PLC lifted its holdings in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 18.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,045 shares of the company’s stock after purchasing an additional 10,496 shares during the period. Janus Henderson Group PLC’s holdings in Credo Technology Group were worth $2,034,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB grew its holdings in Credo Technology Group by 873.9% in the 3rd quarter. Swedbank AB now owns 3,300,314 shares of the company’s stock worth $101,650,000 after acquiring an additional 2,961,454 shares during the last quarter. FMR LLC raised its holdings in Credo Technology Group by 731.6% in the third quarter. FMR LLC now owns 1,152,361 shares of the company’s stock worth $35,493,000 after buying an additional 1,013,789 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Credo Technology Group by 22.7% in the third quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company’s stock worth $61,415,000 after buying an additional 368,518 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Credo Technology Group by 27.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,697,723 shares of the company’s stock worth $54,225,000 after buying an additional 362,634 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in Credo Technology Group in the third quarter worth about $8,578,000. Institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price target (up from $50.00) on shares of Credo Technology Group in a research note on Tuesday, December 3rd. Craig Hallum lifted their price target on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $31.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. TD Cowen boosted their target price 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, Needham & Company LLC boosted their target price on shares of Credo Technology Group from $43.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $67.33.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, Director Lip Bu Tan sold 13,820 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $31.12, for a total transaction of $430,078.40. Following the transaction, the director now directly owns 2,849,905 shares in the company, valued at $88,689,043.60. This represents a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Laufman sold 20,000 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $31.36, for a total transaction of $627,200.00. Following the transaction, the insider now owns 302,466 shares in the company, valued at approximately $9,485,333.76. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,276,120 shares of company stock worth $49,535,455 over the last quarter. Insiders own 16.04% of the company’s stock.

Credo Technology Group Stock Down 1.5 %

CRDO stock opened at $68.42 on Friday. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $75.32. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of -456.13 and a beta of 2.26. The firm’s fifty day simple moving average is $45.82 and its two-hundred day simple moving average is $34.97.

About Credo Technology Group

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.