Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Sells $606,193.92 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Daniel W. Fleming sold 12,504 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $48.48, for a total value of $606,193.92. Following the sale, the chief financial officer now directly owns 656,456 shares in the company, valued at $31,824,986.88. The trade was a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $70.40 on Friday. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $75.30. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of -469.33 and a beta of 2.26. The business has a 50-day moving average of $41.99 and a 200-day moving average of $33.24.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results 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). The company had revenue of $59.71 million for the quarter, compared to analyst estimates of $59.50 million. Credo Technology Group had a negative return on equity of 2.97% and a negative net margin of 9.70%. On average, sell-side analysts expect that Credo Technology Group Holding Ltd will post -0.02 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays raised their price target on Credo Technology Group from $32.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. Mizuho lifted their price target on shares of Credo Technology Group from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their price objective on shares of Credo Technology Group from $31.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen boosted their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Craig Hallum increased their target price on Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $67.33.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors have recently added to or reduced their stakes in CRDO. Price T Rowe Associates Inc. MD lifted its stake in Credo Technology Group by 10.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,997 shares of the company’s stock valued at $1,484,000 after acquiring an additional 6,813 shares during the last quarter. California State Teachers Retirement System lifted its stake in Credo Technology Group by 7.7% in the 1st quarter. California State Teachers Retirement System now owns 128,795 shares of the company’s stock valued at $2,729,000 after purchasing an additional 9,218 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Credo Technology Group by 319.8% during the second quarter. Harbor Capital Advisors Inc. now owns 31,383 shares of the company’s stock worth $1,002,000 after purchasing an additional 23,907 shares during the period. Kingswood Wealth Advisors LLC bought a new position in Credo Technology Group during the second quarter worth about $392,000. Finally, CWM LLC raised 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 buying an additional 594 shares during the period. 80.46% of the stock is currently 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.