Sun Sep 15 11:19:02 UTC 2024: ## Headlands Technologies Reduces Stake in Credo Technology Group

**New York, NY (MarketBeat News) -** Headlands Technologies LLC significantly decreased its stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) by 76.6% during the second quarter, according to a report from HoldingsChannel.com. The institutional investor now owns 6,372 shares of the company’s stock, valued at $204,000, after selling 20,893 shares.

This move comes amidst a flurry of activity from other institutional investors and hedge funds. Wellington Management Group LLP took a new position in Credo Technology Group during the fourth quarter, valued at $35.224 million, while Vanguard Group Inc. increased its stake by 11.3% in the same period. Other notable investors include TimesSquare Capital Management LLC, Healthcare of Ontario Pension Plan Trust Fund, and Westfield Capital Management Co. LP, all acquiring new positions in the company.

The company has also attracted significant attention from research firms. TD Cowen, Needham & Company LLC, Roth Mkm, Bank of America, and The Goldman Sachs Group have all released reports on CRDO, with most analysts holding a positive outlook on the company. Overall, the stock has a “Moderate Buy” rating with an average target price of $34.00, according to MarketBeat.com.

However, recent insider transactions have raised some eyebrows. Director Lip Bu Tan sold 245,438 shares in July for a total of $8,018,459.46, while CEO William Joseph Brennan sold 143,880 shares in September for $3,704,910.00. Insiders have sold a total of 971,190 shares over the last quarter, valued at $29,204,447.

Credo Technology Group Holding Ltd provides high-speed connectivity solutions for optical and electrical Ethernet applications globally. The company’s stock opened at $28.51 on Friday, with a market capitalization of $4.73 billion.

For the latest 13F filings and insider trades on Credo Technology Group Holding Ltd, visit HoldingsChannel.com.

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