Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $38.41, for a total transaction of $2,112,550.00. Following the completion of the sale, the chief technology officer now owns 8,893,602 shares of the company’s stock, valued at approximately $341,603,252.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Chi Fung Cheng also recently made the following trade(s):
- On Thursday, October 3rd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $31.07, for a total transaction of $1,708,850.00.
- On Monday, September 23rd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $29.67, for a total transaction of $1,631,850.00.
- On Friday, September 13th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $28.22, for a total transaction of $1,552,100.00.
- On Tuesday, September 3rd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $32.06, for a total transaction of $1,763,300.00.
- On Monday, August 19th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $31.08, for a total transaction of $1,709,400.00.
- On Friday, August 9th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $27.33, for a total transaction of $1,503,150.00.
- On Thursday, August 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $26.85, for a total transaction of $1,476,750.00.
- On Friday, July 19th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $29.30, for a total transaction of $1,611,500.00.
Credo Technology Group Price Performance
CRDO opened at $36.99 on Thursday. The company’s 50-day moving average is $31.26 and its 200 day moving average is $26.78. Credo Technology Group Holding Ltd has a fifty-two week low of $13.38 and a fifty-two week high of $40.37. The firm has a market capitalization of $6.11 billion, a P/E ratio of -205.50 and a beta of 2.24.
Institutional Investors Weigh In On Credo Technology Group
Hedge funds have recently added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Credo Technology Group by 873.9% in the third quarter. Swedbank AB now owns 3,300,314 shares of the company’s stock worth $101,650,000 after buying an additional 2,961,454 shares during the period. Wellington Management Group LLP purchased a new position in shares of Credo Technology Group during the 4th quarter worth approximately $35,224,000. Vanguard Group Inc. grew its holdings in shares of Credo Technology Group by 11.3% during the 4th quarter. Vanguard Group Inc. now owns 13,991,480 shares of the company’s stock worth $272,414,000 after acquiring an additional 1,420,664 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $22,535,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Credo Technology Group by 290.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,184,344 shares of the company’s stock worth $25,096,000 after purchasing an additional 881,344 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Bank of America upped their price target on shares of Credo Technology Group from $25.00 to $27.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. The Goldman Sachs Group increased their target price on shares of Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Needham & Company LLC increased their target price on shares of Credo Technology Group from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. TD Cowen upgraded shares of Credo Technology Group to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Mizuho increased their price target on shares of Credo Technology Group from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group presently has an average rating of “Moderate Buy” and an average target price of $35.44.
Get Our Latest Analysis on CRDO
Credo Technology Group Company Profile
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.
Further Reading
- Five stocks we like better than Credo Technology Group
- Transportation Stocks Investing
- Taiwan Semiconductor Stock: Buy Now or Wait for Earnings?
- Short Selling: How to Short a Stock
- Abbott’s Growth and Dividends Make It a Smart Portfolio Pick
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Citigroup Faces Growing Troubles: Could the Industry Be at Risk?
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.