Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $78.77, for a total value of $4,332,350.00. Following the completion of the transaction, the chief technology officer now owns 7,493,961 shares of the company’s stock, valued at approximately $590,299,307.97. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Chi Fung Cheng also recently made the following trade(s):
- On Monday, June 9th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $72.53, for a total value of $3,989,150.00.
- On Thursday, June 5th, Chi Fung Cheng sold 59,641 shares of Credo Technology Group stock. The stock was sold at an average price of $74.96, for a total value of $4,470,689.36.
- On Friday, May 2nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $48.02, for a total value of $2,641,100.00.
- On Monday, April 28th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $42.95, for a total transaction of $2,362,250.00.
- On Tuesday, April 22nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $36.74, for a total transaction of $2,020,700.00.
- On Wednesday, April 16th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $37.29, for a total transaction of $2,050,950.00.
- On Thursday, April 10th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $38.78, for a total transaction of $2,132,900.00.
- On Friday, April 4th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $32.96, for a total transaction of $1,812,800.00.
- On Monday, March 24th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $49.77, for a total transaction of $2,737,350.00.
Credo Technology Group Trading Up 7.4%
Shares of Credo Technology Group stock opened at $85.59 on Friday. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 317.00 and a beta of 2.42. Credo Technology Group Holding Ltd. has a 1-year low of $22.50 and a 1-year high of $86.84. The firm’s 50-day moving average price is $57.12 and its two-hundred day moving average price is $60.23.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Noble Financial raised shares of Credo Technology Group to a “strong-buy” rating in a research report on Tuesday, June 3rd. Susquehanna reissued a “positive” rating and set a $90.00 target price (up previously from $60.00) on shares of Credo Technology Group in a research report on Tuesday, June 3rd. Roth Capital set a $95.00 price objective on shares of Credo Technology Group and gave the company a “buy” rating in a research report on Friday, June 13th. Stifel Nicolaus boosted their price target on Credo Technology Group from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Finally, Barclays set a $85.00 price target on Credo Technology Group and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Buy” and a consensus target price of $81.00.
Read Our Latest Analysis on Credo Technology Group
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in CRDO. Kestra Investment Management LLC acquired a new stake in Credo Technology Group during the 4th quarter worth $38,000. Operose Advisors LLC raised its stake in shares of Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Credo Technology Group in the 1st quarter valued at about $25,000. Principal Securities Inc. increased its position in shares of Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company’s stock valued at $45,000 after acquiring an additional 576 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $27,000. 80.46% of the stock is currently owned by institutional investors.
About Credo Technology Group
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.
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