Segall Bryant & Hamill Increases Stake in Credo Technology Group

Segall Bryant & Hamill LLC has expanded its investment in **Credo Technology Group Holding Ltd.** by purchasing an additional **18,435 shares**, representing a **20.5% increase** in its stake during the second quarter of the year. According to the latest filing with the **Securities and Exchange Commission (SEC)**, the institutional investor now holds **108,298 shares**, valued at approximately **$10,027,000**. This acquisition brings Segall Bryant & Hamill’s ownership to around **0.06%** of the company.

In recent months, other institutional investors have also adjusted their holdings in Credo Technology Group. For instance, **Operose Advisors LLC** significantly increased its stake by **69.2%** in the first quarter, now owning **616 shares** worth about **$25,000**. Similarly, **Northwestern Mutual Wealth Management Co.** acquired a new position valued at approximately **$25,000** during the same period, while **Harbour Investments Inc.** and **Virtus Advisers LLC** made new investments valued at **$29,000** and **$31,000**, respectively. Notably, **Wolff Wiese Magana LLC** raised its stake by **200.0%** in the second quarter, now owning **450 shares** worth around **$42,000**. Overall, institutional investors hold **80.46%** of the stock.

Stock Performance and Insider Transactions

As of Monday, **October 1, 2023**, shares of Credo Technology Group opened at **$133.49**. The company has experienced a **52-week low** of **$29.09** and a **52-week high** of **$193.50**. The firm reports a **market capitalization** of **$23.09 billion** and a **price-to-earnings ratio** of **199.24**. The average price over the last **50 days** stands at **$152.85**, while the **200-day moving average** is **$116.18**.

In related developments, **Chi Fung Cheng**, the Chief Technology Officer, sold **55,000 shares** on **September 15, 2023**, at an average price of **$163.98**, totaling approximately **$9,018,900**. Following this transaction, Cheng retains **6,998,961 shares**, valued at about **$1.15 billion**, marking a **0.78%** decrease in ownership. Additionally, **Yat Tung Lam**, the Chief Operating Officer, sold **80,000 shares** on **October 1, 2023**, at an average price of **$143.53**, resulting in a total transaction of around **$11,482,400**. After the sale, Lam owns **920,000 shares**, valued at approximately **$132 million**, which reflects an **8.00%** decrease in their position. In total, company insiders sold **973,161 shares** worth **$149,011,579** in the last quarter, with insiders now holding **11.84%** of the stock.

Analyst Ratings and Market Outlook

Several research firms have recently provided insights regarding Credo Technology Group. On **October 1, 2023**, **TD Cowen** initiated coverage with a **buy** rating and a price target of **$170.00**. Meanwhile, **Barclays** reaffirmed an **overweight** rating with a target price of **$165.00**. **Weiss Ratings** maintained a **hold (c)** rating, while **Stifel Nicolaus** set a target price of **$160.00**.

Currently, one analyst has assigned a **strong buy** rating, thirteen analysts have given a **buy** rating, and two have rated the stock as a **hold**. According to data from **MarketBeat**, the overall average rating for Credo Technology Group is a **Moderate Buy**, with an average target price of **$140.36**.

Credo Technology Group specializes in high-speed connectivity solutions for optical and electrical Ethernet applications, serving markets across the **United States**, **Taiwan**, **Mainland China**, **Hong Kong**, and other international locations. Its product offerings include **HiWire active electrical cables**, **optical digital signal processors**, low-power **line card PHY**, Serializer/Deserializer (SerDes) chiplets, and various integrated circuits.

For those interested in the latest developments and analyst ratings for Credo Technology Group, further information is available through **HoldingsChannel.com**, which tracks hedge fund holdings and insider trades.