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

Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) CFO Daniel W. Fleming sold 3,790 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $40.75, for a total transaction of $154,442.50. Following the completion of the transaction, the chief financial officer now owns 608,602 shares in the company, valued at approximately $24,800,531.50. The trade was a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Credo Technology Group Stock Down 3.2 %

CRDO traded down $1.20 during midday trading on Friday, reaching $36.52. The company had a trading volume of 2,408,216 shares, compared to its average volume of 3,502,990. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69. The company has a market cap of $6.20 billion, a P/E ratio of -243.47 and a beta of 2.30. The business has a 50-day moving average of $49.32 and a two-hundred day moving average of $54.45.

Institutional Trading of Credo Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in Credo Technology Group in the 4th quarter worth $700,000. Pacer Advisors Inc. grew its position in shares of Credo Technology Group by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 3,906 shares of the company's stock worth $263,000 after purchasing an additional 907 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Credo Technology Group by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company's stock valued at $79,289,000 after purchasing an additional 43,169 shares during the period. Principal Financial Group Inc. lifted its holdings in Credo Technology Group by 22.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company's stock worth $61,415,000 after purchasing an additional 368,518 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Credo Technology Group by 3.4% in the 4th quarter. Vontobel Holding Ltd. now owns 19,584 shares of the company's stock worth $1,316,000 after purchasing an additional 635 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CRDO shares. Mizuho lowered their price objective on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Barclays upped their target price on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Needham & Company LLC reissued a "buy" rating and set a $80.00 price objective on shares of Credo Technology Group in a report on Wednesday, March 5th. Susquehanna raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group increased their price target on Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a report on Friday, January 10th. Nine 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.com, the stock currently has an average rating of "Buy" and a consensus target price of $73.50.

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.