Aquatic Capital Management LLC Buys Shares of 18,748 Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Aquatic Capital Management LLC bought a new position in Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,748 shares of the company's stock, valued at approximately $1,260,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRDO. Kestra Investment Management LLC bought a new stake in Credo Technology Group in the 4th quarter valued at $38,000. WASHINGTON TRUST Co acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at approximately $43,000. Principal Securities Inc. boosted its position in Credo Technology Group by 626.1% during the fourth quarter. Principal Securities Inc. now owns 668 shares of the company's stock worth $45,000 after purchasing an additional 576 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Credo Technology Group during the 4th quarter worth about $61,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Credo Technology Group by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company's stock worth $65,000 after acquiring an additional 351 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Insider Activity

In other Credo Technology Group news, CFO Daniel W. Fleming sold 3,790 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $40.75, for a total value of $154,442.50. Following the transaction, the chief financial officer now directly owns 608,602 shares of the company's stock, valued at approximately $24,800,531.50. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pantas Sutardja sold 1,875 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the sale, the director now directly owns 5,902,402 shares of the company's stock, valued at $395,224,837.92. This represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 463,665 shares of company stock worth $20,944,463. Company insiders own 16.04% of the company's stock.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $43.21 on Wednesday. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of -288.07 and a beta of 2.30. Credo Technology Group Holding Ltd has a 52-week low of $16.91 and a 52-week high of $86.69. The stock's 50 day moving average price is $44.24 and its two-hundred day moving average price is $54.97.

Analysts Set New Price Targets

Several equities analysts recently commented on CRDO shares. Barclays decreased their price target on shares of Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus decreased their price target on Credo Technology Group from $85.00 to $69.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Bank of America lowered their price objective on shares of Credo Technology Group from $83.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and issued a $80.00 target price on shares of Credo Technology Group in a research report on Wednesday, March 5th. Finally, Mizuho dropped their price target on shares of Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $71.50.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.

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