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

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $39.24, for a total transaction of $2,158,200.00. Following the completion of the transaction, the chief technology officer now directly owns 8,838,602 shares of the company’s stock, valued at approximately $346,826,742.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, October 11th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $38.41, for a total transaction of $2,112,550.00.
• 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 shares were 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 shares were sold at an average price of $28.22, for a total value 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 stock was 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 shares were 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 value of $1,476,750.00.

Credo Technology Group Trading Up 0.9 %

Shares of Credo Technology Group stock opened at $39.01 on Friday. The firm has a market capitalization of $6.44 billion, a PE ratio of -216.72 and a beta of 2.24. The firm’s 50 day moving average is $32.51 and its 200 day moving average is $27.45. Credo Technology Group Holding Ltd has a 1 year low of $13.38 and a 1 year high of $40.37.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Credo Technology Group had a negative net margin of 12.05% and a negative return on equity of 3.74%. The firm had revenue of $59.71 million for the quarter, compared to analyst estimates of $59.50 million. As a group, research analysts anticipate that Credo Technology Group Holding Ltd will post -0.02 earnings per share for the current year.

Analyst Ratings Changes

CRDO has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on shares of Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Needham & Company LLC lifted their price target on Credo Technology Group from $29.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Bank of America boosted their price target on Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. Roth Mkm raised their price target on Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, TD Cowen upgraded Credo Technology Group to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

Hedge Funds Weigh In On Credo Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CRDO. KP Management LLC acquired a new stake in shares of Credo Technology Group during the third quarter worth $2,772,000. Allworth Financial LP grew its holdings in Credo Technology Group by 917.9% during the 3rd quarter. Allworth Financial LP now owns 855 shares of the company’s stock worth $26,000 after acquiring an additional 771 shares during the period. Dakota Wealth Management bought a new position in shares of Credo Technology Group in the 3rd quarter worth about $237,000. Moody Aldrich Partners LLC lifted its stake in shares of Credo Technology Group by 38.8% in the 3rd quarter. Moody Aldrich Partners LLC now owns 208,908 shares of the company’s stock valued at $6,434,000 after purchasing an additional 58,351 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in Credo Technology Group in the third quarter valued at approximately $584,000. 80.46% of the stock is owned by institutional investors and hedge funds.

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.