Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) CEO William Joseph Brennan sold 15,000 shares of the company's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $21.58, for a total value of $323,700.00. Following the completion of the transaction, the chief executive officer now owns 3,052,500 shares of the company's stock, valued at approximately $65,872,950. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
William Joseph Brennan also recently made the following trade(s):
- On Wednesday, March 13th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $20.55, for a total value of $308,250.00.
- On Thursday, February 15th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $22.39, for a total value of $335,850.00.
- On Thursday, February 1st, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $20.44, for a total value of $306,600.00.
- On Tuesday, January 30th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.05, for a total value of $315,750.00.
- On Thursday, January 18th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $19.31, for a total value of $289,650.00.
Credo Technology Group Price Performance
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Shares of CRDO opened at $21.19 on Friday. The stock's 50-day simple moving average is $21.47 and its 200 day simple moving average is $18.60. Credo Technology Group Holding Ltd has a 52-week low of $7.20 and a 52-week high of $23.90.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Credo Technology Group had a negative return on equity of 7.82% and a negative net margin of 20.59%. The firm had revenue of $53.06 million for the quarter, compared to analysts' expectations of $51.91 million. During the same quarter last year, the firm posted $0.02 EPS. The company's revenue was down 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current year.
Analysts Set New Price Targets
CRDO has been the topic of a number of recent research reports. Needham & Company LLC upped their price target on Credo Technology Group from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Mizuho reaffirmed a "buy" rating and set a $30.00 price target (up previously from $28.00) on shares of Credo Technology Group in a research report on Wednesday, February 28th. TD Cowen upped their price target on Credo Technology Group from $20.00 to $24.00 and gave the company a "market perform" rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group upped their price target on Credo Technology Group from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Credo Technology Group presently has an average rating of "Moderate Buy" and a consensus price target of $23.00.
Read Our Latest Stock Report on Credo Technology Group
Institutional Trading of Credo Technology Group
Several institutional investors and hedge funds have recently modified their holdings of CRDO. Envestnet Asset Management Inc. purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at about $332,000. JPMorgan Chase & Co. purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at about $205,000. Bank of New York Mellon Corp purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at about $1,748,000. BlackRock Inc. purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at about $48,844,000. Finally, Vanguard Group Inc. bought a new position in shares of Credo Technology Group during the 1st quarter valued at about $29,191,000. Hedge funds and other 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.
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