Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Sells $191,426.30 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Lip Bu Tan sold 6,110 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $31.33, for a total transaction of $191,426.30. Following the completion of the sale, the director now owns 3,125,061 shares in the company, valued at approximately $97,908,161.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, July 12th, Lip Bu Tan sold 12,845 shares of Credo Technology Group stock. The shares were sold at an average price of $31.51, for a total transaction of $404,745.95.
• 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.
• On Friday, July 5th, Lip Bu Tan sold 45,476 shares of Credo Technology Group stock. The stock was sold at an average price of $31.76, for a total transaction of $1,444,317.76.

Credo Technology Group Trading Up 0.7 %

CRDO opened at $30.87 on Monday. Credo Technology Group Holding Ltd has a 1-year low of $13.38 and a 1-year high of $32.78. The company has a market cap of $5.10 billion, a P/E ratio of -171.50 and a beta of 2.24. The company has a fifty day moving average price of $25.36 and a two-hundred day moving average price of $22.21.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its stake in Credo Technology Group by 78.1% in the second quarter. CWM LLC now owns 1,355 shares of the company’s stock valued at $43,000 after purchasing an additional 594 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Credo Technology Group by 47.6% during the first 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 in the last quarter. Assetmark Inc. increased its position in shares of Credo Technology Group by 30.1% during the fourth quarter. Assetmark Inc. now owns 5,460 shares of the company’s stock worth $106,000 after acquiring an additional 1,263 shares in the last quarter. Ulland Investment Advisors LLC bought a new stake in shares of Credo Technology Group during the first quarter worth about $29,000. Finally, Amalgamated Bank increased its position in shares of Credo Technology Group by 9.7% during the fourth quarter. Amalgamated Bank now owns 16,449 shares of the company’s stock worth $320,000 after acquiring an additional 1,454 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Company Profile

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.