Mutual of America Capital Management LLC Sells 11,818 Shares of Credo Technology Group Holding Ltd. $CRDO

Mutual of America Capital Management LLC reduced its position in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,495 shares of the company's stock after selling 11,818 shares during the period. Mutual of America Capital Management LLC's holdings in Credo Technology Group were worth $12,012,000 at the end of the most recent quarter.Get Credo Technology Group alerts:Credo Just Pulled Back—This Might Be the Cleanest Entry PointSeveral other hedge funds also recently modified their holdings of the company. First Horizon Corp acquired a new position in shares of Credo Technology Group in the 3rd quarter worth approximately $26,000. Park Place Capital Corp bought a new position in Credo Technology Group in the 3rd quarter valued at $41,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Credo Technology Group in the second quarter worth $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Credo Technology Group during the third quarter worth $45,000. Finally, Wolff Wiese Magana LLC increased its stake in shares of Credo Technology Group by 200.0% in the second quarter. Wolff Wiese Magana LLC now owns 450 shares of the company's stock valued at $42,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock. Credo Technology Group Price PerformanceShares of NASDAQ CRDO opened at $128.02 on Tuesday. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $213.80. The firm has a market capitalization of $23.12 billion, a P/E ratio of 112.30 and a beta of 2.66. The company's 50 day simple moving average is $151.21 and its 200 day simple moving average is $141.32. The Chip Boom Is Back: 3 Stocks Positioned for Huge GainsCredo Technology Group (NASDAQ:CRDO - Get Free Report) last released its earnings results on Monday, December 1st. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.18. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The firm had revenue of $268.03 million during the quarter, compared to analyst estimates of $234.99 million. During the same quarter in the previous year, the business earned $0.07 EPS. The business's quarterly revenue was up 272.1% compared to the same quarter last year. Sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year. Analysts Set New Price TargetsSeveral brokerages recently issued reports on CRDO. Susquehanna upped their price target on shares of Credo Technology Group from $165.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, October 22nd. New Street Research set a $240.00 target price on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Needham & Company LLC increased their price target on shares of Credo Technology Group from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, December 2nd. KGI Securities upgraded shares of Credo Technology Group from a "hold" rating to an "outperform" rating and set a $230.00 price objective for the company in a research report on Tuesday, December 2nd. Finally, Wolfe Research set a $240.00 price objective on Credo Technology Group in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Credo Technology Group has an average rating of "Buy" and a consensus price target of $216.54.Credo Technologies Posted a Blowout Quarter—Here's What's NextCheck Out Our Latest Analysis on Credo Technology GroupInsider ActivityIn other news, CFO Daniel W. Fleming sold 3,902 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $140.15, for a total transaction of $546,865.30. Following the completion of the sale, the chief financial officer owned 446,178 shares of the company's stock, valued at $62,531,846.70. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 2,200 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $159.18, for a total value of $350,196.00. Following the transaction, the director owned 18,545 shares of the company's stock, valued at approximately $2,951,993.10. This trade represents a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 970,476 shares of company stock worth $149,681,763 in the last 90 days. Corporate insiders own 11.84% of the company's stock. About Credo Technology Group (Free Report)Credo Technology Group, Inc NASDAQ: CRDO is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment. Credo's product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.Featured StoriesFive stocks we like better than Credo Technology GroupHow a Family Trust May Be Able To Help Preserve Your WealthDo not delete, read immediatelyNEW LAW: Congress Approves Setup For Digital Dollar?If You Keep Cash In A U.S. Bank Account… Read This NOWExecutive Order 14330: Trump’s Biggest YetWant to see what other hedge funds are holding CRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Credo Technology Group Right Now?Before you consider Credo Technology Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credo Technology Group wasn't on the list.While Credo Technology Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here