Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $32.96, for a total value of $1,812,800.00. Following the completion of the transaction, the chief technology officer now owns 7,938,602 shares of the company's stock, valued at approximately $261,656,321.92. This represents a 0.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Chi Fung Cheng also recently made the following trade(s):
- On Monday, March 24th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $49.77, for a total transaction of $2,737,350.00.
- On Monday, March 17th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $47.29, for a total transaction of $2,600,950.00.
- On Monday, January 27th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $57.87, for a total transaction of $3,182,850.00.
- On Tuesday, January 21st, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $80.57, for a total value of $4,834,200.00.
- On Tuesday, January 14th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $69.57, for a total value of $4,174,200.00.
- On Wednesday, January 8th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $72.09, for a total value of $4,325,400.00.
Credo Technology Group Stock Performance
Shares of NASDAQ CRDO traded up $0.48 during mid-day trading on Friday, reaching $38.72. 2,539,960 shares of the company's stock were exchanged, compared to its average volume of 3,493,940. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of -258.13 and a beta of 2.30. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69. The company's 50-day moving average is $52.54 and its 200-day moving average is $54.42.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on CRDO shares. Stifel Nicolaus increased their target price 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. Bank of America decreased their target price on shares of Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. The Goldman Sachs Group lifted their price objective on Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Susquehanna upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $80.00 price target on shares of Credo Technology Group in a 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's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $74.60.
Check Out Our Latest Stock Analysis on CRDO
Institutional Investors Weigh In On Credo Technology Group
A number of institutional investors have recently made changes to their positions in CRDO. Kestra Investment Management LLC acquired a new position in shares of Credo Technology Group in the 4th quarter worth approximately $38,000. WASHINGTON TRUST Co purchased a new stake in Credo Technology Group in the fourth quarter valued at approximately $43,000. Principal Securities Inc. lifted its stake in 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 purchasing an additional 576 shares in the last quarter. Quarry LP purchased a new position in shares of Credo Technology Group during the fourth quarter worth $58,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at $61,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.
Credo Technology Group Company Profile
(
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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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