Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) insider James Laufman sold 8,000 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $39.09, for a total value of $312,720.00. Following the transaction, the insider now owns 271,725 shares of the company's stock, valued at $10,621,730.25. The trade was a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Credo Technology Group Stock Down 3.7 %
Shares of CRDO stock opened at $37.72 on Thursday. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 month high of $86.69. The company's fifty day simple moving average is $50.13 and its 200-day simple moving average is $54.41. The firm has a market cap of $6.40 billion, a PE ratio of -251.47 and a beta of 2.30.
Analyst Ratings Changes
A number of research analysts recently issued reports on CRDO shares. The Goldman Sachs Group boosted their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a report on Friday, January 10th. Bank of America dropped their price objective on Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Barclays increased their price target on Credo Technology Group from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Susquehanna upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Needham & Company LLC restated a "buy" rating and set a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. 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, the stock has an average rating of "Buy" and an average price target of $74.60.
Read Our Latest Stock Report on CRDO
Institutional Investors Weigh In On Credo Technology Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRDO. Norges Bank bought a new position in shares of Credo Technology Group in the 4th quarter valued at about $117,242,000. Alliancebernstein L.P. grew its stake in Credo Technology Group by 299.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,740,982 shares of the company's stock valued at $117,011,000 after purchasing an additional 1,305,594 shares in the last quarter. Polar Capital Holdings Plc raised its stake in shares of Credo Technology Group by 382.1% during the 4th quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company's stock worth $97,527,000 after purchasing an additional 1,150,084 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Credo Technology Group by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company's stock valued at $404,797,000 after buying an additional 909,578 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Credo Technology Group by 441.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 975,935 shares of the company's stock valued at $65,594,000 after buying an additional 795,751 shares in the last quarter. 80.46% of the stock is owned by 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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