Credo Technology Group Holding Ltd (NASDAQ:CRDO – Free Report) CTO Chi Fung Cheng sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $17.58, for a total value of $703,200.00. Following the completion of the sale, the chief technology officer now directly owns 440,950 shares of the company’s stock, valued at $7,751,901. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink.
Chi Fung Cheng also recently made the following trade(s):
- On Thursday, June 15th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The shares were sold at an average price of $17.66, for a total value of $706,400.00.
- On Thursday, June 1st, Chi Fung Cheng sold 323,450 shares of Credo Technology Group stock. The shares were sold at an average price of $15.20, for a total transaction of $4,916,440.00.
- On Tuesday, May 30th, Chi Fung Cheng sold 2,800 shares of Credo Technology Group stock. The shares were sold at an average price of $15.02, for a total transaction of $42,056.00.
- On Monday, May 22nd, Chi Fung Cheng sold 240,000 shares of Credo Technology Group stock. The shares were sold at an average price of $10.51, for a total transaction of $2,522,400.00.
Credo Technology Group Price Performance
Shares of CRDO stock opened at $17.34 on Friday. The business has a 50 day simple moving average of $12.88 and a 200 day simple moving average of $12.39. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -157.64 and a beta of 1.93. Credo Technology Group Holding Ltd has a 12-month low of $7.20 and a 12-month high of $19.46.
Credo Technology Group (NASDAQ:CRDO – Free Report) last announced its earnings results on Wednesday, May 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $32.09 million during the quarter, compared to analyst estimates of $31.00 million. Credo Technology Group had a negative net margin of 8.98% and a negative return on equity of 1.96%. During the same quarter in the prior year, the firm posted $0.02 EPS. On average, equity analysts anticipate that Credo Technology Group Holding Ltd will post -0.11 EPS for the current fiscal year.
Hedge Funds Weigh In On Credo Technology Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new position in Credo Technology Group during the 1st quarter valued at $26,000. Ameritas Investment Partners Inc. bought a new position in Credo Technology Group during the 1st quarter valued at $26,000. Assetmark Inc. boosted its stake in Credo Technology Group by 35.9% during the 4th quarter. Assetmark Inc. now owns 2,132 shares of the company’s stock valued at $28,000 after purchasing an additional 563 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Credo Technology Group during the 1st quarter valued at about $25,000. Finally, Altshuler Shaham Ltd bought a new position in shares of Credo Technology Group during the 4th quarter valued at about $40,000. 51.04% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
CRDO has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of Credo Technology Group from $14.00 to $17.00 in a research note on Thursday, June 1st. The Street raised Credo Technology Group from a “d+” rating to a “c-” rating in a report on Wednesday, June 7th. 51job reaffirmed a “maintains” rating on shares of Credo Technology Group in a report on Thursday, June 1st. Needham & Company LLC upped their target price on Credo Technology Group from $15.00 to $17.00 in a report on Thursday, June 1st. Finally, Mizuho upped their price target on shares of Credo Technology Group from $16.00 to $18.00 in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, two have been given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.11.
Credo Technology Group Company Profile
(Free Report)
Credo 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 integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.
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