Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $29.30, for a total transaction of $1,611,500.00. Following the transaction, the chief technology officer now directly owns 9,333,602 shares in the company, valued at approximately $273,474,538.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Chi Fung Cheng also recently made the following trade(s):
- On Thursday, July 11th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $30.63, for a total transaction of $1,684,650.00.
- On Friday, June 21st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $27.49, for a total transaction of $1,511,950.00.
- On Thursday, June 13th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $28.99, for a total transaction of $1,594,450.00.
- On Monday, May 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $19.07, for a total transaction of $1,048,850.00.
- On Friday, May 10th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $17.43, for a total transaction of $958,650.00.
- On Wednesday, May 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $17.41, for a total transaction of $957,550.00.
Credo Technology Group Price Performance
Shares of NASDAQ CRDO opened at $30.57 on Wednesday. The stock has a market cap of $5.05 billion, a P/E ratio of -169.83 and a beta of 2.24. Credo Technology Group Holding Ltd has a 1 year low of $13.38 and a 1 year high of $33.96. The firm has a 50-day moving average of $26.99 and a 200 day moving average of $22.72.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last issued its earnings results on Wednesday, May 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $60.78 million during the quarter, compared to analysts’ expectations of $60.50 million. Credo Technology Group had a negative return on equity of 4.51% and a negative net margin of 14.70%. Research analysts expect that Credo Technology Group Holding Ltd will post 0.07 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Carnegie Capital Asset Management LLC raised its holdings in Credo Technology Group by 19.4% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 293,470 shares of the company’s stock worth $5,714,000 after buying an additional 47,650 shares during the last quarter. AMF Tjanstepension AB raised its holdings in shares of Credo Technology Group by 31.8% during the first quarter. AMF Tjanstepension AB now owns 1,713,149 shares of the company’s stock valued at $36,302,000 after purchasing an additional 413,149 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Credo Technology Group by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 958,316 shares of the company’s stock valued at $18,658,000 after purchasing an additional 111,957 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Credo Technology Group by 31.3% during the third quarter. Vanguard Group Inc. now owns 12,570,816 shares of the company’s stock valued at $191,705,000 after purchasing an additional 2,993,303 shares during the last quarter. Finally, Moody Aldrich Partners LLC raised its holdings in shares of Credo Technology Group by 67.8% during the fourth quarter. Moody Aldrich Partners LLC now owns 202,707 shares of the company’s stock valued at $3,947,000 after purchasing an additional 81,904 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on CRDO shares. Needham & Company LLC lifted their target price on shares of Credo Technology Group from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. TD Cowen lifted their target price on shares of Credo Technology Group from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Craig Hallum lifted their target price on shares of Credo Technology Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Stifel Nicolaus lifted their target price on shares of Credo Technology Group from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Barclays lifted their target price on shares of Credo Technology Group from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus target price of $30.38.
Get Our Latest Analysis on Credo Technology Group
About Credo Technology Group
Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.
Featured Articles
Receive News & Ratings for Credo Technology Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Credo Technology Group and related companies with MarketBeat.com’s FREE daily email newsletter.