Capital Research Global Investors Cuts Credo Tech Stake to 3.9%

TL;DR

**Capital Research Global Investors just cut its stake in Credo Technology Group to 3.9%.**

AI Summary

Capital Research Global Investors, a Delaware-based investment firm, has updated its ownership stake in Credo Technology Group Holding Ltd. As of December 29, 2023, the firm beneficially owns 5,687,691 shares of Credo's Common Stock, representing 3.9% of the company. This is an amendment to a previous filing, indicating a change in their holdings, which matters to investors as it shows a significant institutional investor has reduced its stake, potentially signaling a shift in their outlook on Credo's future performance.

Why It Matters

This filing indicates that a major institutional investor, Capital Research Global Investors, has reduced its ownership in Credo Technology Group Holding Ltd., which could be interpreted by the market as a decrease in confidence in the company's stock.

Risk Assessment

Risk Level: medium — A reduction in ownership by a large institutional investor like Capital Research Global Investors can sometimes precede further stock price declines, indicating potential underlying concerns.

Analyst Insight

Investors should monitor Credo Technology Group Holding Ltd.'s stock performance and consider researching the reasons behind Capital Research Global Investors' reduced stake, potentially looking for other institutional activity or company-specific news.

Key Numbers

• 5,687,691 — shares beneficially owned (represents the total number of shares of Credo Technology Group Holding Ltd. Common Stock held by Capital Research Global Investors with sole voting power)
• 3.9% — percentage of class (the percentage of Credo Technology Group Holding Ltd. Common Stock owned by Capital Research Global Investors, indicating a significant but reduced stake)
• 0 — shared voting power (indicates Capital Research Global Investors holds no shares with shared voting power)

Key Players & Entities

• Capital Research Global Investors (company) — the reporting person who filed the SC 13G/A
• Credo Technology Group Holding Ltd. (company) — the subject company whose shares are being reported
• Delaware (company) — place of organization for Capital Research Global Investors
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Credo Technology Group Holding Ltd.'s stock price may experience downward pressure due to this institutional selling. (Credo Technology Group Holding Ltd.) — medium confidence, target: Q1 2024
• Other institutional investors might review their positions in Credo Technology Group Holding Ltd. following this disclosure. (Institutional Investors) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 16KB
• 0001422848-24-000023.txt ( ) — 18KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1 ) * Credo Technology Group Holding Ltd. (Name of Issuer) Common Stock (Title of Class of Securities) G25457105 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. G25457105 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Capital Research Global Investors 95-1411037 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 5,687,691 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 5,687,691 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,687,691 Beneficial ownership disclaimed pursuant to Rule 13d-4 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.5% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer Credo Technology Group Holding Ltd. (b) Address of Issuer's Principal Executive Offices C/O MAPLES CORPORATE SERVICES, LIMITED, PO Box 309, Ugland House, GRAND CAYMAN KY1-1104, Cayman Islands Item 2. (a) Name of Person Filing Capital Research Global Investors (b) Address of Principal Business Office or, if None, Residence 333 South Hope Street, 55th Fl, Los Angeles, CA 90071 (c) Citizenship N/A (d) Title of Class of Securities Common Stock (e) CUSIP Number G25457105 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 5,687,691 ** (b) Percent of Class: 3.5% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 5,687,691 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 5,687,691 (iv) shared power to dispose or to direct the disposition of 0 **Capital Research Global Investors ("CRGI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CRGI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital Research Global Investors." CRGI is deemed to be the beneficial owner of 5,687,691 shares or 3.5% of the 160,985,782 shares believed to be outstanding. Item 5. If this statement is being filed to report the

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