Federated Hermes Reduces $48M in Credo Technology Group Holding Ltd ($CRDO)
Key Points
- Federated Hermes changed its Credo Technology Group Holding Ltd ($CRDO) stake by 35.8% last quarter, cutting to 344,031 shares worth $86.28 million.
- Wall Street's consensus rating on $CRDO is Strong Buy and an average price target of $256.30.
- $CRDO last traded around $250.80.
Federated Hermes reduced its position in Credo Technology Group Holding Ltd ($CRDO) by 35.8% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 344,031 shares of Credo Technology Group Holding Ltd after selling 191,825 shares during the quarter. Federated Hermes's holdings in Credo Technology Group Holding Ltd were worth $86.28 million as of its most recent filing.
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About Credo Technology Group Holding Ltd
Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. It provides HiWire active electrical cables solutions, including HiWire CLOS, SPAN, SHIFT, and SWITCH; optical PAM4 digital signal processors; low-power line card PHY; serializer/deserializer (SerDes) chiplets; and SerDes IP, as well as integrated circuits. The company also offers intellectual property solutions consist of SerDes IP licensing. In addition, it offers predictive integrity link optimization and telemetry; PCIe retimer solutions; and support and maintenance, engineering, and royalties services. The company sells its products to hyperscalers, original equipment manufacturers, original design manufacturers, and optical module manufacturers, as well as into the enterprise and HPC markets. Credo Technology Group Holding Ltd was founded in 2008 and is based in Grand Cayman, the Cayman Islands.
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