Kennedy Capital Management LLC trimmed its stake in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Free Report) by 30.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,504 shares of the company's stock after selling 9,825 shares during the period. Kennedy Capital Management LLC's holdings in Credo Technology Group were worth $1,512,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in shares of Credo Technology Group in the 4th quarter valued at $38,000. WASHINGTON TRUST Co purchased a new position in Credo Technology Group in the fourth quarter valued at $43,000. Principal Securities Inc. raised its position in shares of Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company's stock worth $45,000 after acquiring an additional 576 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of Credo Technology Group during the 4th quarter worth about $61,000. Finally, GAMMA Investing LLC increased its stake in shares of Credo Technology Group by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company's stock valued at $65,000 after purchasing an additional 351 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.
Credo Technology Group Trading Down 3.2 %
CRDO stock traded down $1.20 during mid-day trading on Friday, reaching $36.52. The company's stock had a trading volume of 2,408,216 shares, compared to its average volume of 3,502,990. The company's 50 day moving average is $49.32 and its two-hundred day moving average is $54.45. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69. The stock has a market cap of $6.20 billion, a PE ratio of -243.47 and a beta of 2.30.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Bank of America lowered their price target on Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Susquehanna upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. The Goldman Sachs Group boosted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Stifel Nicolaus decreased their price objective on shares of Credo Technology Group from $85.00 to $69.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Needham & Company LLC restated a "buy" rating and set a $80.00 price target on shares of Credo Technology Group in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $73.50.
Read Our Latest Stock Analysis on Credo Technology Group
Insider Transactions at Credo Technology Group
In related news, insider James Laufman sold 8,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $39.09, for a total transaction of $312,720.00. Following the sale, the insider now directly owns 271,725 shares of the company's stock, valued at $10,621,730.25. This represents a 2.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Chi Fung Cheng sold 60,000 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $80.57, for a total value of $4,834,200.00. Following the sale, the chief technology officer now directly owns 8,268,602 shares in the company, valued at $666,201,263.14. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 578,665 shares of company stock worth $31,561,763 in the last quarter. Company insiders own 16.04% of the company's stock.
Credo Technology Group Profile
(
Free Report)
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.
Recommended Stories
Before you consider Credo Technology Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credo Technology Group wasn't on the list.
While Credo Technology Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
