Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Chi Fung Cheng Sells 55,000 Shares

Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $39.24, for a total transaction of $2,158,200.00. Following the completion of the transaction, the chief technology officer now owns 8,838,602 shares in the company, valued at $346,826,742.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Chi Fung Cheng also recently made the following trade(s):

• On Friday, October 11th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $38.41, for a total transaction of $2,112,550.00.
• On Thursday, October 3rd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $31.07, for a total value of $1,708,850.00.
• On Monday, September 23rd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $29.67, for a total transaction of $1,631,850.00.
• On Friday, September 13th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $28.22, for a total transaction of $1,552,100.00.
• On Tuesday, September 3rd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $32.06, for a total transaction of $1,763,300.00.
• On Monday, August 19th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $31.08, for a total value of $1,709,400.00.
• On Friday, August 9th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $27.33, for a total value of $1,503,150.00.
• On Thursday, August 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $26.85, for a total value of $1,476,750.00.

Credo Technology Group Trading Down 2.6 %

CRDO stock traded down $1.03 during trading on Wednesday, hitting $38.67. The company had a trading volume of 2,480,485 shares, compared to its average volume of 2,234,539. Credo Technology Group Holding Ltd has a fifty-two week low of $13.38 and a fifty-two week high of $40.37. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of -220.56 and a beta of 2.24. The business has a 50 day moving average of $32.14 and a 200 day moving average of $27.29.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Credo Technology Group had a negative return on equity of 3.74% and a negative net margin of 12.05%. The firm had revenue of $59.71 million for the quarter, compared to the consensus estimate of $59.50 million. As a group, equities analysts predict that Credo Technology Group Holding Ltd will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of CRDO. Arcadia Investment Management Corp MI purchased a new stake in shares of Credo Technology Group during the second quarter valued at $29,000. Fifth Third Bancorp boosted its holdings in shares of Credo Technology Group by 59.3% in the second quarter. Fifth Third Bancorp now owns 1,074 shares of the company's stock worth $34,000 after buying an additional 400 shares during the period. Covestor Ltd increased its position in shares of Credo Technology Group by 19,240.0% in the first quarter. Covestor Ltd now owns 1,934 shares of the company's stock worth $41,000 after acquiring an additional 1,924 shares in the last quarter. CWM LLC raised its holdings in shares of Credo Technology Group by 78.1% during the second quarter. CWM LLC now owns 1,355 shares of the company's stock valued at $43,000 after acquiring an additional 594 shares during the period. Finally, Cranbrook Wealth Management LLC acquired a new position in Credo Technology Group in the 2nd quarter worth approximately $51,000. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRDO has been the topic of a number of research analyst reports. Roth Mkm increased 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 note on Tuesday. Bank of America lifted their price target on Credo Technology Group from $25.00 to $27.00 and gave the stock an "underperform" rating in a research note on Thursday, September 5th. Mizuho increased their target price on Credo Technology Group from $35.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Needham & Company LLC boosted their price target on Credo Technology Group from $29.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, September 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Credo Technology Group from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $36.56.

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.

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