Insider Selling: Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO 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 firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.99, for a total value of $1,594,450.00. Following the transaction, the chief technology officer now owns 9,553,602 shares in the company, valued at approximately $276,958,921.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

  • On Monday, May 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $19.07, for a total value of $1,048,850.00.
  • On Friday, May 10th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $17.43, for a total value of $958,650.00.
  • On Wednesday, May 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $17.41, for a total transaction of $957,550.00.
  • On Friday, April 19th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $17.31, for a total transaction of $952,050.00.
  • On Thursday, April 11th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $22.13, for a total value of $1,217,150.00.
  • On Monday, April 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.31, for a total value of $1,172,050.00.
  • 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.

Credo Technology Group Stock Up 2.2 %

Shares of Credo Technology Group stock opened at $29.21 on Thursday. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of -162.28 and a beta of 2.20. Credo Technology Group Holding Ltd has a twelve month low of $13.38 and a twelve month high of $29.89. The company’s fifty day moving average is $21.27 and its 200 day moving average is $20.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ulland Investment Advisors LLC acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $29,000. Covestor Ltd increased its position in Credo Technology Group by 19,240.0% during the 1st quarter. Covestor Ltd now owns 1,934 shares of the company’s stock valued at $41,000 after purchasing an additional 1,924 shares during the period. Advisors Asset Management Inc. raised its holdings in Credo Technology Group by 47.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,811 shares of the company’s stock worth $81,000 after purchasing an additional 1,229 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Credo Technology Group during the 1st quarter worth approximately $97,000. Finally, Assetmark Inc. lifted its position in shares of Credo Technology Group by 30.1% in the 4th quarter. Assetmark Inc. now owns 5,460 shares of the company’s stock worth $106,000 after purchasing an additional 1,263 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRDO has been the subject of several research analyst reports. Barclays boosted their target price on Credo Technology Group from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Bank of America reissued an “underperform” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Credo Technology Group in a research note on Thursday, May 30th. Mizuho reaffirmed a “buy” rating and set a $30.00 target price (up previously from $28.00) on shares of Credo Technology Group in a research note on Wednesday, February 28th. Needham & Company LLC increased their price target on Credo Technology Group from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Craig Hallum boosted their price objective on Credo Technology Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group currently has an average rating of “Moderate Buy” and an average price target of $26.88.

Read Our Latest Stock Report on CRDO

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.

See Also

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.