Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Sells $1,444,317.76 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Free Report) Director Lip Bu Tan sold 45,476 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $31.76, for a total transaction of $1,444,317.76. Following the completion of the transaction, the director now owns 39,736 shares in the company, valued at $1,262,015.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Lip Bu Tan also recently made the following trade(s):

  • On Monday, July 8th, Lip Bu Tan sold 112,441 shares of Credo Technology Group stock. The stock was sold at an average price of $31.99, for a total transaction of $3,596,987.59.

Credo Technology Group Stock Performance

Credo Technology Group stock traded down $0.36 during midday trading on Tuesday, hitting $31.44. 1,391,663 shares of the company’s stock were exchanged, compared to its average volume of 2,161,399. Credo Technology Group Holding Ltd has a 12-month low of $13.38 and a 12-month high of $32.78. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of -174.67 and a beta of 2.24. The firm’s 50 day simple moving average is $24.54 and its 200 day simple moving average is $21.98.

Credo Technology Group (NASDAQ:CRDOGet Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). Credo Technology Group had a negative return on equity of 4.51% and a negative net margin of 14.70%. The business had revenue of $60.78 million for the quarter, compared to analysts’ expectations of $60.50 million. On average, equities research analysts forecast that Credo Technology Group Holding Ltd will post 0.07 EPS for the current fiscal year.

Institutional Trading of Credo Technology Group

Several hedge funds have recently made changes to their positions in CRDO. Ulland Investment Advisors LLC acquired a new stake in shares of Credo Technology Group in the 1st quarter worth $29,000. Covestor Ltd lifted its stake in shares of Credo Technology Group by 19,240.0% in the 1st quarter. Covestor Ltd now owns 1,934 shares of the company’s stock worth $41,000 after acquiring an additional 1,924 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Credo Technology Group by 47.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,811 shares of the company’s stock worth $81,000 after acquiring an additional 1,229 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Credo Technology Group in the 1st quarter worth $97,000. Finally, Assetmark Inc. lifted its stake 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 acquiring an additional 1,263 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of research reports. Bank of America reiterated an “underperform” rating and set a $22.00 target price (up from $21.00) on shares of Credo Technology Group in a report on Thursday, May 30th. Craig Hallum increased their target price on shares of Credo Technology Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Needham & Company LLC increased their target price on shares of Credo Technology Group from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Barclays increased their target price on shares of Credo Technology Group from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, TD Cowen raised shares of Credo Technology Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $24.00 to $35.00 in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

Get Our Latest Research Report on Credo Technology Group

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.

Further Reading

Insider Buying and Selling by Quarter for Credo Technology Group (NASDAQ:CRDO)

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