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

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $17.41, for a total value of $957,550.00. Following the sale, the chief technology officer now owns 9,773,602 shares in the company, valued at $170,158,410.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, April 19th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $17.31, for a total value of $952,050.00.
• On Thursday, April 11th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $22.13, for a total transaction of $1,217,150.00.
• On Monday, April 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.31, for a total transaction of $1,172,050.00.
• 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 value 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 transaction of $1,164,350.00.

Credo Technology Group Stock Performance

CRDO stock opened at $17.18 on Friday. The firm’s 50-day moving average price is $20.36 and its two-hundred day moving average price is $19.29. Credo Technology Group Holding Ltd has a 12-month low of $7.20 and a 12-month high of $23.90.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CRDO shares. Needham & Company LLC increased their price objective on Credo Technology Group from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. TD Cowen increased 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. Mizuho restated a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of Credo Technology Group in a report on Wednesday, February 28th. The Goldman Sachs Group upped their price objective on shares of Credo Technology Group from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Craig Hallum lifted their target price on shares of Credo Technology Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.25.

Institutional Trading of Credo Technology Group

Several large investors have recently added to or reduced their stakes in the stock. Ulland Investment Advisors LLC purchased a new position in shares of Credo Technology Group during the 1st quarter worth approximately $29,000. Asset Management One Co. Ltd. purchased a new position in shares of Credo Technology Group in the 3rd quarter valued at approximately $95,000. Banque Cantonale Vaudoise bought a new stake in shares of Credo Technology Group during the first quarter valued at approximately $97,000. Assetmark Inc. grew its stake in Credo Technology Group by 30.1% in the fourth quarter. Assetmark Inc. now owns 5,460 shares of the company’s stock worth $106,000 after purchasing an additional 1,263 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Credo Technology Group in the third quarter worth $166,000. Institutional investors own 80.46% of the company’s stock.

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.