Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $49.77, for a total value of $2,737,350.00. Following the completion of the sale, the chief technology officer now owns 8,048,602 shares of the company's stock, valued at $400,578,921.54. This trade represents a 0.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Chi Fung Cheng also recently made the following trade(s):
- On Monday, March 17th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $47.29, for a total transaction of $2,600,950.00.
- On Monday, January 27th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $57.87, for a total transaction of $3,182,850.00.
- On Tuesday, January 21st, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $80.57, for a total transaction of $4,834,200.00.
- On Tuesday, January 14th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $69.57, for a total value of $4,174,200.00.
- On Wednesday, January 8th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $72.09, for a total value of $4,325,400.00.
- On Thursday, January 2nd, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $69.22, for a total value of $4,153,200.00.
Credo Technology Group Price Performance
Shares of Credo Technology Group stock opened at $44.95 on Thursday. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $86.69. The business has a 50-day moving average of $62.03 and a 200-day moving average of $53.50. The company has a market capitalization of $7.63 billion, a PE ratio of -299.67 and a beta of 2.16.
Analysts Set New Price Targets
CRDO has been the subject of a number of research analyst reports. TD Cowen increased their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Craig Hallum increased their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Barclays lifted their target price on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Bank of America lowered their price target on Credo Technology Group from $83.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Finally, Stifel Nicolaus boosted their price objective on Credo Technology Group from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $74.90.
Read Our Latest Analysis on CRDO
Institutional Investors Weigh In On Credo Technology Group
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC bought a new stake in shares of Credo Technology Group in the fourth quarter worth $38,000. WASHINGTON TRUST Co acquired a new position in Credo Technology Group during the 4th quarter worth $43,000. Principal Securities Inc. increased its position in shares of Credo Technology Group by 626.1% in the 4th quarter. Principal Securities Inc. now owns 668 shares of the company's stock worth $45,000 after purchasing an additional 576 shares during the last quarter. Quarry LP acquired a new stake in shares of Credo Technology Group in the 4th quarter valued at about $58,000. Finally, Plato Investment Management Ltd bought a new position in shares of Credo Technology Group during the fourth quarter worth about $61,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
Credo Technology Group Company Profile
(
Get Free Report)
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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