William Joseph Brennan Sells 15,000 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan sold 15,000 shares of Credo Technology Group stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $19.16, for a total transaction of $287,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,992,500 shares of the company’s stock, valued at approximately $57,336,300. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

William Joseph Brennan also recently made the following trade(s):

• On Thursday, April 4th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $22.31, for a total transaction of $334,650.00.
• On Wednesday, March 27th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.58, for a total transaction of $323,700.00.
• On Wednesday, March 13th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $20.55, for a total transaction of $308,250.00.
• On Thursday, February 15th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $22.39, for a total transaction of $335,850.00.
• On Thursday, February 1st, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $20.44, for a total transaction of $306,600.00.
• On Tuesday, January 30th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.05, for a total transaction of $315,750.00.

Credo Technology Group Stock Down 5.9 %

NASDAQ CRDO opened at $16.92 on Friday. The stock has a market cap of $2.76 billion, a P/E ratio of -73.57 and a beta of 1.97. The company’s 50-day simple moving average is $21.39 and its 200 day simple moving average is $19.17. Credo Technology Group Holding Ltd has a twelve month low of $7.20 and a twelve month high of $23.90.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $53.06 million for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Research analysts anticipate that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRDO shares. The Goldman Sachs Group boosted their target price on shares of Credo Technology Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Craig Hallum upped their price objective on shares of Credo Technology Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Needham & Company LLC upped their price objective on shares of Credo Technology Group from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. TD Cowen upped their price objective on shares of Credo Technology Group from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Finally, Mizuho reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of Credo Technology Group in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Credo Technology Group has an average rating of “Moderate Buy” and an average price target of $24.25.

Institutional Trading of Credo Technology Group

Large investors have recently added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC grew its stake in Credo Technology Group by 19.4% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 293,470 shares of the company’s stock worth $5,714,000 after buying an additional 47,650 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Credo Technology Group during the third quarter worth about $2,028,000. Vanguard Group Inc. grew its stake in Credo Technology Group by 31.3% during the third quarter. Vanguard Group Inc. now owns 12,570,816 shares of the company’s stock worth $191,705,000 after buying an additional 2,993,303 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Credo Technology Group by 17.7% during the third quarter. JPMorgan Chase & Co. now owns 8,651,186 shares of the company’s stock worth $131,931,000 after buying an additional 1,299,600 shares during the last quarter. Finally, Moody Aldrich Partners LLC grew its stake in Credo Technology Group by 67.8% during the fourth quarter. Moody Aldrich Partners LLC now owns 202,707 shares of the company’s stock worth $3,947,000 after buying an additional 81,904 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

About Credo Technology Group

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.