Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Daniel W. Fleming Sells 3,790 Shares

Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) CFO Daniel W. Fleming sold 3,790 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $72.61, for a total transaction of $275,191.90. Following the transaction, the chief financial officer now directly owns 638,564 shares in the company, valued at approximately $46,366,132.04. The trade was a 0.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Credo Technology Group Price Performance

CRDO stock traded up $0.35 on Tuesday, reaching $69.39. 3,120,478 shares of the company were exchanged, compared to its average volume of 4,008,121. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 month high of $78.97. The stock's fifty day moving average price is $60.49 and its 200 day moving average price is $41.93. The firm has a market capitalization of $11.60 billion, a PE ratio of -462.60 and a beta of 2.11.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of CRDO. Swedbank AB boosted its stake in Credo Technology Group by 873.9% during the third quarter. Swedbank AB now owns 3,300,314 shares of the company's stock worth $101,650,000 after buying an additional 2,961,454 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Credo Technology Group by 73.6% during the third quarter. Point72 Asset Management L.P. now owns 3,916,447 shares of the company's stock worth $120,627,000 after buying an additional 1,660,230 shares in the last quarter. FMR LLC boosted its stake in Credo Technology Group by 731.6% during the third quarter. FMR LLC now owns 1,152,361 shares of the company's stock worth $35,493,000 after buying an additional 1,013,789 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Credo Technology Group by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company's stock worth $404,797,000 after buying an additional 909,578 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Credo Technology Group by 32.7% during the third quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company's stock worth $88,188,000 after buying an additional 705,512 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays raised their price objective on shares of Credo Technology Group from $32.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Roth Mkm raised their price objective on shares of Credo Technology Group from $35.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Susquehanna assumed coverage on shares of Credo Technology Group in a research report on Tuesday, December 17th. They set a "neutral" rating and a $80.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research report on Friday. Finally, Stifel Nicolaus lifted their price target on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.40.

About Credo Technology Group

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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