Pantas Sutardja Sells 1,875 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) Director Pantas Sutardja sold 1,875 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 5,902,402 shares of the company's stock, valued at $395,224,837.92. This trade represents a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pantas Sutardja also recently made the following trade(s):

• On Friday, December 20th, Pantas Sutardja sold 21,041 shares of Credo Technology Group stock. The stock was sold at an average price of $68.19, for a total transaction of $1,434,785.79.

Credo Technology Group Trading Down 3.0 %

NASDAQ:CRDO traded down $2.36 during trading hours on Friday, hitting $77.28. 4,200,550 shares of the stock traded hands, compared to its average volume of 5,690,025. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of -515.20 and a beta of 2.09. The firm has a 50 day moving average price of $71.46 and a 200 day moving average price of $47.41. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CRDO shares. TD Cowen increased their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Susquehanna assumed coverage on Credo Technology Group in a research report on Tuesday, December 17th. They set a "neutral" rating and a $80.00 price target on the stock. Mizuho upped their price objective on Credo Technology Group from $70.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Barclays lifted their target price on Credo Technology Group from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Bank of America upgraded shares of Credo Technology Group from an "underperform" rating to a "buy" rating and raised their price objective for the company from $27.00 to $80.00 in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.40.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new position in shares of Credo Technology Group in the 4th quarter valued at about $38,000. WASHINGTON TRUST Co purchased a new position in Credo Technology Group during the fourth quarter valued at approximately $43,000. Principal Securities Inc. grew its position in Credo Technology Group by 626.1% during the fourth quarter. Principal Securities Inc. now owns 668 shares of the company's stock valued at $45,000 after purchasing an additional 576 shares in the last quarter. Allworth Financial LP increased its stake in Credo Technology Group by 917.9% in the 3rd quarter. Allworth Financial LP now owns 855 shares of the company's stock valued at $26,000 after buying an additional 771 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in Credo Technology Group in the 4th quarter worth approximately $61,000. 80.46% of the stock is owned by institutional investors and hedge funds.

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.