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

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Free Report) CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $21.31, for a total transaction of $1,172,050.00. Following the completion of the transaction, the chief technology officer now owns 9,938,602 shares in the company, valued at $211,791,608.62. The sale was disclosed in a filing with the SEC, which is available through this link.

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

  • On Thursday, March 21st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was 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 shares were 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 shares were sold at an average price of $21.17, for a total value of $1,164,350.00.
  • On Thursday, February 1st, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $20.43, for a total transaction of $1,225,800.00.
  • On Monday, January 22nd, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.62, for a total transaction of $1,297,200.00.
  • On Friday, January 12th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $19.20, for a total transaction of $1,152,000.00.

Credo Technology Group Stock Up 1.8 %

CRDO stock opened at $22.44 on Thursday. Credo Technology Group Holding Ltd has a 52 week low of $7.20 and a 52 week high of $23.90. The stock has a market capitalization of $3.66 billion, a PE ratio of -97.57 and a beta of 1.97. The firm has a 50 day moving average of $21.48 and a 200 day moving average of $18.76.

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

Wall Street Analyst Weigh In

CRDO has been the subject of a number of analyst reports. The Goldman Sachs Group upped their target price on Credo Technology Group from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Needham & Company LLC raised 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. Mizuho reiterated a “buy” rating and issued a $30.00 target price (up from $28.00) on shares of Credo Technology Group in a report on Wednesday, February 28th. Finally, TD Cowen raised 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 report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Read Our Latest Stock Report on Credo Technology Group

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada purchased a new position in Credo Technology Group during the 1st quarter worth approximately $26,000. Ameritas Investment Partners Inc. acquired a new position in Credo Technology Group during the first quarter valued at $26,000. Advisors Asset Management Inc. boosted its holdings in Credo Technology Group by 295.9% in the third quarter. Advisors Asset Management Inc. now owns 1,841 shares of the company’s stock valued at $28,000 after purchasing an additional 1,376 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Credo Technology Group during the 4th quarter valued at about $40,000. Finally, KBC Group NV purchased a new position in shares of Credo Technology Group during the 4th quarter valued at about $43,000. 80.46% of the stock is owned by institutional investors and hedge funds.

About Credo Technology Group

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Credo Technology Group (NASDAQ:CRDO)

Receive News & Ratings for Credo Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credo Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.