Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $36.74, for a total transaction of $2,020,700.00. Following the completion of the transaction, the chief technology officer now directly owns 7,773,602 shares in the company, valued at approximately $285,602,137.48. The trade was a 0.70 % decrease in their ownership of the stock. The sale 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 Wednesday, April 16th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $37.29, for a total value of $2,050,950.00.
- On Thursday, April 10th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $38.78, for a total value of $2,132,900.00.
- On Friday, April 4th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $32.96, for a total value of $1,812,800.00.
- On Monday, March 24th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $49.77, for a total transaction of $2,737,350.00.
- 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 shares were sold at an average price of $57.87, for a total transaction of $3,182,850.00.
Credo Technology Group Trading Up 4.7 %
Shares of CRDO stock opened at $42.39 on Friday. The firm's fifty day moving average price is $46.01 and its two-hundred day moving average price is $54.69. Credo Technology Group Holding Ltd has a 1 year low of $16.91 and a 1 year high of $86.69. The firm has a market capitalization of $7.20 billion, a P/E ratio of -282.60 and a beta of 2.30.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on CRDO shares. Needham & Company LLC reiterated a "buy" rating and set a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. Mizuho decreased their price objective on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Susquehanna upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Bank of America cut their price target on shares of 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. Finally, The Goldman Sachs Group increased their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Credo Technology Group currently has an average rating of "Buy" and an average target price of $71.50.
View Our Latest Research Report on Credo Technology Group
Institutional Trading of Credo Technology Group
Several institutional investors and hedge funds have recently bought and sold shares of CRDO. Norges Bank bought a new position in Credo Technology Group in the fourth quarter valued at approximately $117,242,000. Alliancebernstein L.P. boosted its holdings in shares of Credo Technology Group by 299.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,740,982 shares of the company's stock valued at $117,011,000 after buying an additional 1,305,594 shares during the last quarter. Polar Capital Holdings Plc grew its stake in shares of Credo Technology Group by 382.1% in the fourth quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company's stock valued at $97,527,000 after buying an additional 1,150,084 shares in the last quarter. JPMorgan Chase & Co. raised its position in Credo Technology Group by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company's stock worth $404,797,000 after acquiring an additional 909,578 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in 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 acquiring an additional 795,751 shares during the last quarter. Institutional investors own 80.46% of the company's stock.
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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