Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) shares were up 5.5% during mid-day trading on Thursday . The company traded as high as $42.67 and last traded at $42.72. Approximately 833,208 shares changed hands during trading, a decline of 76% from the average daily volume of 3,527,854 shares. The stock had previously closed at $40.49.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Susquehanna raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Needham & Company LLC restated a "buy" rating and set a $80.00 price target on shares of Credo Technology Group in a research note on Wednesday, March 5th. Barclays lowered their price objective on Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus decreased their price target on Credo Technology Group from $85.00 to $69.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $71.50.
Get Our Latest Analysis on Credo Technology Group
Credo Technology Group Stock Performance
The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of -286.93 and a beta of 2.30. The business's 50-day simple moving average is $45.38 and its 200-day simple moving average is $55.02.
Insiders Place Their Bets
In other news, Director Pantas Sutardja sold 1,875 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the completion of the sale, the director now directly owns 5,902,402 shares of the company's stock, valued at $395,224,837.92. This represents a 0.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $36.74, for a total transaction of $2,020,700.00. Following the transaction, the chief technology officer now directly owns 7,773,602 shares in the company, valued at $285,602,137.48. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 563,665 shares of company stock valued at $26,810,463. Company insiders own 16.04% of the company's stock.
Hedge Funds Weigh In On Credo Technology Group
A number of hedge funds and other institutional investors have recently made changes to their positions in CRDO. Kestra Investment Management LLC bought a new stake in shares of Credo Technology Group in the fourth quarter worth about $38,000. WASHINGTON TRUST Co bought a new stake in shares of Credo Technology Group during the fourth quarter worth $43,000. Principal Securities Inc. raised its holdings in shares of Credo Technology Group by 626.1% during 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. Mirae Asset Global Investments Co. Ltd. bought a new stake in Credo Technology Group in the 1st quarter valued at $27,000. Finally, Quarry LP bought a new stake in Credo Technology Group in the 4th quarter valued at $58,000. 80.46% of the stock is owned by institutional investors.
About Credo Technology Group
(
Get 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.
Further Reading
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.
