Pantas Sutardja Sells 21,041 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Pantas Sutardja sold 21,041 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $68.19, for a total value of $1,434,785.79. Following the completion of the sale, the director now directly owns 5,904,277 shares of the company’s stock, valued at $402,612,648.63. The trade was a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Credo Technology Group Stock Up 1.1 %

NASDAQ CRDO opened at $72.02 on Friday. The company has a 50-day moving average price of $52.13 and a 200-day moving average price of $37.97. Credo Technology Group Holding Ltd has a 52 week low of $16.82 and a 52 week high of $78.97. The firm has a market capitalization of $12.04 billion, a P/E ratio of -480.13 and a beta of 2.26.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRDO shares. Roth Mkm increased their price target on shares of Credo Technology Group from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price objective (up from $50.00) on shares of Credo Technology Group in a research report on Tuesday, December 3rd. Mizuho upped their price target on Credo Technology Group from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price objective on Credo Technology Group from $31.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC upped their target price on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Institutional Trading of Credo Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRDO. Bank of New York Mellon Corp grew its position in shares of Credo Technology Group by 62.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 654,773 shares of the company’s stock valued at $20,913,000 after acquiring an additional 252,349 shares during the period. Panagora Asset Management Inc. increased its position in Credo Technology Group by 12.0% in the second quarter. Panagora Asset Management Inc. now owns 597,793 shares of the company’s stock worth $19,094,000 after buying an additional 63,875 shares in the last quarter. F M Investments LLC bought a new position in shares of Credo Technology Group in the second quarter worth about $638,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Credo Technology Group during the 2nd quarter valued at about $444,000. Finally, nVerses Capital LLC grew its stake in shares of Credo Technology Group by 2,633.3% during the 2nd quarter. nVerses Capital LLC now owns 8,200 shares of the company’s stock valued at $262,000 after acquiring an additional 7,900 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

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.