Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Sells $1,172,050.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Free Report) CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $21.31, for a total transaction of $1,172,050.00. Following the completion of the transaction, the chief technology officer now directly owns 9,938,602 shares in the company, valued at $211,791,608.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

  • On Thursday, March 21st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.93, for a total transaction of $1,206,150.00.
  • On Monday, March 11th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $20.93, for a total value of $1,151,150.00.
  • On Tuesday, February 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.17, for a total value of $1,164,350.00.
  • On Thursday, February 1st, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $20.43, for a total value of $1,225,800.00.
  • On Monday, January 22nd, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.62, for a total transaction of $1,297,200.00.
  • On Friday, January 12th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $19.20, for a total transaction of $1,152,000.00.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $22.44 on Thursday. The business’s fifty day moving average price is $21.48 and its 200 day moving average price is $18.76. The firm has a market capitalization of $3.66 billion, a PE ratio of -97.57 and a beta of 1.97. Credo Technology Group Holding Ltd has a 1-year low of $7.20 and a 1-year high of $23.90.

Credo Technology Group (NASDAQ:CRDOGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $53.06 million for the quarter, compared to analysts’ expectations of $51.91 million. Credo Technology Group had a negative net margin of 20.59% and a negative return on equity of 7.82%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. Equities research analysts expect that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada purchased a new position in Credo Technology Group in the 1st quarter valued at approximately $26,000. Ameritas Investment Partners Inc. acquired a new stake in Credo Technology Group in the first quarter valued at $26,000. Advisors Asset Management Inc. increased its position in shares of Credo Technology Group by 295.9% in the third quarter. Advisors Asset Management Inc. now owns 1,841 shares of the company’s stock valued at $28,000 after buying an additional 1,376 shares in the last quarter. KBC Group NV purchased a new stake in shares of Credo Technology Group in the 4th quarter worth about $43,000. Finally, Altshuler Shaham Ltd acquired a new stake in Credo Technology Group in the 4th quarter valued at about $40,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRDO shares. Mizuho restated a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of Credo Technology Group in a research note on Wednesday, February 28th. Needham & Company LLC upped their price objective on Credo Technology Group from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. TD Cowen increased their price objective on Credo Technology Group from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group boosted their target price on Credo Technology Group from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.00.

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Credo Technology Group Company Profile

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Credo Technology Group Holding Ltd provides various high-speed connectivCredo 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 HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP.

Further Reading

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

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