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

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $19.16, for a total transaction of $287,400.00. Following the sale, the chief executive officer now directly owns 2,992,500 shares of the company’s stock, valued at approximately $57,336,300. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

William Joseph Brennan also recently made the following trade(s):

• On Thursday, April 4th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $22.31, for a total transaction of $334,650.00.
• On Wednesday, March 27th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.58, for a total transaction of $323,700.00.
• On Wednesday, March 13th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $20.55, for a total transaction of $308,250.00.
• On Thursday, February 15th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $22.39, for a total transaction of $335,850.00.
• On Thursday, February 1st, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $20.44, for a total transaction of $306,600.00.
• On Tuesday, January 30th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.05, for a total transaction of $315,750.00.

Credo Technology Group Price Performance

NASDAQ CRDO opened at $17.99 on Friday. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -78.22 and a beta of 1.97. Credo Technology Group Holding Ltd has a one year low of $7.20 and a one year high of $23.90. The business’s fifty day moving average is $21.46 and its 200-day moving average is $19.18.

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

Institutional Investors Weigh In On Credo Technology Group

A number of hedge funds have recently made changes to their positions in CRDO. Royal Bank of Canada bought a new stake in Credo Technology Group in the 1st quarter valued at about $26,000. Ameritas Investment Partners Inc. bought a new stake in Credo Technology Group in the 1st quarter valued at about $26,000. Advisors Asset Management Inc. raised its stake in Credo Technology Group by 295.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,841 shares of the company’s stock valued at $28,000 after acquiring an additional 1,376 shares during the period. Altshuler Shaham Ltd bought a new stake in Credo Technology Group in the 4th quarter valued at about $40,000. Finally, KBC Group NV bought a new stake in Credo Technology Group in the 4th quarter valued at about $43,000. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRDO shares. Mizuho reissued a “buy” rating and issued a $30.00 price target (up previously from $28.00) on shares of Credo Technology Group in a research report on Wednesday, February 28th. TD Cowen lifted their price target on shares of Credo Technology Group from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Craig Hallum lifted their price target on shares of Credo Technology Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

About Credo Technology Group

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.