Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) CFO Daniel W. Fleming sold 3,790 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $40.75, for a total value of $154,442.50. Following the completion of the transaction, the chief financial officer now owns 608,602 shares in the company, valued at $24,800,531.50. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Credo Technology Group Trading Up 0.2 %
NASDAQ:CRDO opened at $39.18 on Wednesday. The stock has a market capitalization of $6.65 billion, a P/E ratio of -261.20 and a beta of 2.30. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $86.69. The stock has a 50-day moving average price of $50.92 and a 200 day moving average price of $54.53.
Institutional Trading of Credo Technology Group
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new position in shares of Credo Technology Group in the fourth quarter valued at $38,000. WASHINGTON TRUST Co purchased a new position in shares of Credo Technology Group during the fourth quarter valued at approximately $43,000. Principal Securities Inc. increased its stake in Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company's stock worth $45,000 after purchasing an additional 576 shares during the period. Quarry LP purchased a new position in Credo Technology Group in the 4th quarter worth about $58,000. Finally, Plato Investment Management Ltd bought a new position in Credo Technology Group in the fourth quarter worth approximately $61,000. 80.46% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently commented on CRDO shares. Mizuho reduced their price objective on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Stifel Nicolaus boosted their price target on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 6th. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Needham & Company LLC restated a "buy" rating and issued a $80.00 price objective on shares of Credo Technology Group in a report on Wednesday, March 5th. Finally, Susquehanna upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Credo Technology Group presently has a consensus rating of "Buy" and an average price target of $74.60.
Read Our Latest Stock Report on CRDO
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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