Charles Schwab Investment Management Inc. Buys 43,169 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Charles Schwab Investment Management Inc. boosted its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,179,726 shares of the company’s stock after purchasing an additional 43,169 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Credo Technology Group were worth $79,289,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its position in Credo Technology Group by 8.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $225,000 after purchasing an additional 255 shares during the period. Assetmark Inc. grew its position in Credo Technology Group by 5.4% in the 3rd quarter. Assetmark Inc. now owns 4,978 shares of the company’s stock worth $153,000 after purchasing an additional 257 shares during the period. GAMMA Investing LLC grew its position in Credo Technology Group by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock worth $65,000 after purchasing an additional 351 shares during the period. Amalgamated Bank grew its position in Credo Technology Group by 9.4% in the 4th quarter. Amalgamated Bank now owns 4,777 shares of the company’s stock worth $321,000 after purchasing an additional 411 shares during the period. Finally, Advisors Asset Management Inc. grew its position in Credo Technology Group by 11.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company’s stock worth $145,000 after purchasing an additional 478 shares during the period. Institutional investors own 80.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price objective 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. Susquehanna cut 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, March 5th. Craig Hallum boosted their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Barclays boosted their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group boosted their price objective 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 research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus price target of $74.90.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $80.59, for a total value of $805,900.00. Following the sale, the chief operating officer now owns 2,825,621 shares in the company, valued at $227,716,796.39. The trade was a 0.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lip Bu Tan sold 150,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $76.09, for a total transaction of $11,413,500.00. Following the completion of the sale, the director now owns 1,113,725 shares in the company, valued at approximately $84,743,335.25. The trade was a 11.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,190,496 shares of company stock worth $82,695,512. 16.04% of the stock is owned by corporate insiders.

Credo Technology Group Stock Performance

CRDO opened at $39.45 on Tuesday. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69. The firm’s fifty day moving average is $68.09 and its 200 day moving average is $52.46. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of -263.00 and a beta of 2.16.

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.