Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Sells $265,034.70 in Stock

by · The Cerbat Gem

Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) CFO Daniel W. Fleming sold 3,790 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $69.93, for a total value of $265,034.70. Following the transaction, the chief financial officer now owns 652,666 shares of the company’s stock, valued at approximately $45,640,933.38. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Credo Technology Group Stock Performance

Shares of NASDAQ CRDO traded up $1.47 during trading on Friday, hitting $68.51. The company had a trading volume of 6,446,715 shares, compared to its average volume of 2,490,844. The company has a market cap of $11.46 billion, a P/E ratio of -456.73 and a beta of 2.26. The business’s 50-day moving average is $49.53 and its 200 day moving average is $36.66. Credo Technology Group Holding Ltd has a 52 week low of $16.82 and a 52 week high of $78.97.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of Credo Technology Group by 917.9% in the third quarter. Allworth Financial LP now owns 855 shares of the company’s stock worth $26,000 after acquiring an additional 771 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Credo Technology Group in the second quarter valued at $29,000. Rakuten Securities Inc. acquired a new stake in shares of Credo Technology Group in the third quarter worth $30,000. Fifth Third Bancorp grew its holdings in shares of Credo Technology Group by 59.3% during the second quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 400 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Credo Technology Group by 695.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock worth $35,000 after acquiring an additional 1,001 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

CRDO has been the subject of several recent research reports. Bank of America upgraded shares of Credo Technology Group from an “underperform” rating to a “buy” rating and upped their price target for the stock from $27.00 to $80.00 in a research report on Tuesday, December 3rd. Mizuho raised 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. TD Cowen upped their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Craig Hallum raised their target price on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price target (up from $50.00) on shares of Credo Technology Group in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Get Our Latest Stock Report on CRDO

Credo Technology Group Company Profile

(Get Free Report)

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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