Insider Selling: Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Sells $1,594,450.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Free Report) CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.99, for a total value of $1,594,450.00. Following the completion of the transaction, the chief technology officer now directly owns 9,553,602 shares in the company, valued at $276,958,921.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Chi Fung Cheng also recently made the following trade(s):

  • On Monday, May 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $19.07, for a total transaction of $1,048,850.00.
  • On Friday, May 10th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $17.43, for a total transaction of $958,650.00.
  • On Wednesday, May 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $17.41, for a total transaction of $957,550.00.
  • On Friday, April 19th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $17.31, for a total value of $952,050.00.
  • On Thursday, April 11th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $22.13, for a total value of $1,217,150.00.
  • On Monday, April 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.31, for a total value of $1,172,050.00.
  • On Thursday, March 21st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.93, for a total transaction of $1,206,150.00.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $29.21 on Thursday. The firm has a 50 day simple moving average of $21.27 and a 200 day simple moving average of $20.82. Credo Technology Group Holding Ltd has a fifty-two week low of $13.38 and a fifty-two week high of $29.89. The firm has a market cap of $4.77 billion, a P/E ratio of -162.28 and a beta of 2.20.

Analysts Set New Price Targets

CRDO has been the topic of a number of recent research reports. Mizuho reaffirmed a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of Credo Technology Group in a report on Wednesday, February 28th. The Goldman Sachs Group increased their price objective on Credo Technology Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. TD Cowen boosted their target price on shares of Credo Technology Group from $20.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Barclays increased their target price on shares of Credo Technology Group from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Craig Hallum boosted their price target on shares of Credo Technology Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and an average target price of $26.88.

Read Our Latest Research Report on CRDO

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Credo Technology Group by 31.3% in the third quarter. Vanguard Group Inc. now owns 12,570,816 shares of the company’s stock valued at $191,705,000 after buying an additional 2,993,303 shares during the period. Jennison Associates LLC bought a new stake in shares of Credo Technology Group during the 4th quarter valued at $45,362,000. Wellington Management Group LLP acquired a new position in shares of Credo Technology Group in the 4th quarter valued at $35,224,000. JPMorgan Chase & Co. boosted its position in shares of Credo Technology Group by 17.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,651,186 shares of the company’s stock worth $131,931,000 after purchasing an additional 1,299,600 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Credo Technology Group during the first quarter worth $22,535,000. Institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

(Get Free Report)

Credo Technology Group Holding Ltd provides various high-speed connectivCredo 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 HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP.

See Also

Insider Buying and Selling by Quarter for Credo Technology Group (NASDAQ:CRDO)

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