Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan Sells 15,000 Shares

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Rating) CEO William Joseph Brennan sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $14.93, for a total transaction of $223,950.00. Following the transaction, the chief executive officer now directly owns 4,245,000 shares of the company’s stock, valued at $63,377,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $15.00 on Friday. The firm has a market cap of $2.20 billion and a PE ratio of -250.00. The company has a 50-day moving average of $14.00 and a two-hundred day moving average of $13.31. Credo Technology Group Holding Ltd has a 1-year low of $8.61 and a 1-year high of $18.00.

Credo Technology Group (NASDAQ:CRDOGet Rating) last released its quarterly earnings data on Wednesday, November 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $51.37 million for the quarter, compared to analyst estimates of $50.50 million. Credo Technology Group had a positive return on equity of 2.61% and a negative net margin of 5.34%. Sell-side analysts anticipate that Credo Technology Group Holding Ltd will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada purchased a new position in Credo Technology Group in the 1st quarter worth approximately $26,000. Ameritas Investment Partners Inc. acquired a new stake in Credo Technology Group in the first quarter worth $26,000. IFP Advisors Inc acquired a new stake in Credo Technology Group in the third quarter worth $27,000. UBS Group AG bought a new position in shares of Credo Technology Group in the first quarter worth $69,000. Finally, Focused Wealth Management Inc bought a new position in shares of Credo Technology Group in the third quarter worth $53,000. Institutional investors and hedge funds own 40.46% of the company’s stock.

Analyst Ratings Changes

Separately, Needham & Company LLC upped their target price on shares of Credo Technology Group from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 1st. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $19.38.

Credo Technology Group Company Profile

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Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Mainland China, Hong Kong, and internationally. Its products include integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.

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Insider Buying and Selling by Quarter for Credo Technology Group (NASDAQ:CRDO)

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