Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Daniel W. Fleming Sells 3,790 Shares

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Daniel W. Fleming sold 3,790 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $40.75, for a total transaction of $154,442.50. Following the completion of the sale, the chief financial officer now directly owns 608,602 shares in the company, valued at $24,800,531.50. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Credo Technology Group Stock Performance

Credo Technology Group stock traded up $0.08 on Tuesday, reaching $39.18. The company’s stock had a trading volume of 2,426,950 shares, compared to its average volume of 3,498,261. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69. The company has a market cap of $6.65 billion, a price-to-earnings ratio of -261.20 and a beta of 2.30. The business’s fifty day moving average price is $51.73 and its 200 day moving average price is $54.64.

Wall Street Analysts Forecast Growth

CRDO has been the topic of a number of analyst reports. Bank of America lowered their target price on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Mizuho lowered their price objective on Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Susquehanna upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target on shares of Credo Technology Group in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus increased their price objective on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $74.60.

Institutional Investors Weigh In On Credo Technology Group

A number of hedge funds have recently added to or reduced their stakes in CRDO. Handelsbanken Fonder AB grew its stake in shares of Credo Technology Group by 7.3% during the first quarter. Handelsbanken Fonder AB now owns 35,400 shares of the company’s stock valued at $1,422,000 after purchasing an additional 2,400 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Credo Technology Group by 103.5% in the 1st quarter. GAMMA Investing LLC now owns 1,982 shares of the company’s stock valued at $80,000 after buying an additional 1,008 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Credo Technology Group during the first quarter worth $1,759,000. Kraematon Investment Advisors Inc. acquired a new position in shares of Credo Technology Group during the first quarter valued at $389,000. Finally, Rhumbline Advisers boosted its holdings in Credo Technology Group by 4.9% in the first quarter. Rhumbline Advisers now owns 205,046 shares of the company’s stock valued at $8,235,000 after acquiring an additional 9,615 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

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.