Boothbay Fund Management LLC Has $7 Million Position in Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Boothbay Fund Management LLC grew its holdings in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 18.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 104,194 shares of the company's stock after acquiring an additional 15,911 shares during the quarter. Boothbay Fund Management LLC owned about 0.06% of Credo Technology Group worth $7,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in Credo Technology Group by 8.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company's stock worth $225,000 after acquiring an additional 255 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Credo Technology Group by 51.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,028 shares of the company's stock worth $75,000 after purchasing an additional 348 shares in the last quarter. GAMMA Investing LLC lifted its stake in Credo Technology Group by 56.3% during the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company's stock valued at $65,000 after purchasing an additional 351 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Credo Technology Group by 9.4% during the 4th quarter. Amalgamated Bank now owns 4,777 shares of the company's stock worth $321,000 after acquiring an additional 411 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Credo Technology Group by 1.2% in the 4th quarter. Arizona State Retirement System now owns 40,931 shares of the company's stock worth $2,751,000 after acquiring an additional 501 shares during the last quarter. Institutional investors own 80.46% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CRDO shares. Needham & Company LLC reaffirmed a "buy" rating and set a $80.00 price objective on shares of Credo Technology Group in a research note on Wednesday, March 5th. Bank of America decreased 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 note on Wednesday, March 5th. Mizuho cut their target price on shares of Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Barclays lowered their price target on Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group increased their price objective on Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $71.50.

Credo Technology Group Price Performance

Shares of CRDO stock traded up $3.08 during trading on Thursday, reaching $46.13. The company had a trading volume of 2,243,521 shares, compared to its average volume of 3,563,515. The firm's 50 day simple moving average is $43.77 and its two-hundred day simple moving average is $54.89. Credo Technology Group Holding Ltd has a one year low of $16.91 and a one year high of $86.69. The company has a market capitalization of $7.83 billion, a PE ratio of -307.57 and a beta of 2.30.

Insider Transactions at Credo Technology Group

In other news, COO Yat Tung Lam sold 100,000 shares of Credo Technology Group stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $61.13, for a total value of $6,113,000.00. Following the transaction, the chief operating officer now directly owns 1,000,000 shares in the company, valued at approximately $61,130,000. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pantas Sutardja sold 1,875 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $66.96, for a total value of $125,550.00. Following the sale, the director now owns 5,902,402 shares of the company's stock, valued at approximately $395,224,837.92. The trade was a 0.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 518,665 shares of company stock worth $23,306,713. 16.04% of the stock is owned by insiders.

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.