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 that occurred on Thursday, May 2nd. The stock was sold at an average price of $17.15, for a total transaction of $257,250.00. Following the transaction, the chief executive officer now owns 2,962,500 shares in the company, valued at $50,806,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
William Joseph Brennan also recently made the following trade(s):
- On Wednesday, April 17th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $19.16, for a total transaction of $287,400.00.
- On Thursday, April 4th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $22.31, for a total value of $334,650.00.
- On Wednesday, March 27th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.58, for a total value of $323,700.00.
- On Wednesday, March 13th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was 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 transaction of $335,850.00.
Credo Technology Group Stock Down 0.7 %
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Shares of Credo Technology Group stock opened at $17.18 on Friday. The stock's fifty day simple moving average is $20.36 and its 200 day simple moving average is $19.29. Credo Technology Group Holding Ltd has a 12 month low of $7.20 and a 12 month high of $23.90.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $53.06 million during the quarter, compared to the consensus estimate of $51.91 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research 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 subject of several analyst reports. Mizuho reiterated 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 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 report on Wednesday, February 28th. Needham & Company LLC increased their price target on Credo Technology Group from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Craig Hallum lifted their price objective on Credo Technology Group from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group increased their target price on Credo Technology Group from $23.00 to $26.00 and gave the company a "buy" rating in a research note 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.25.
Read Our Latest Analysis on CRDO
Institutional Trading of Credo Technology Group
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Credo Technology Group by 31.3% during the third quarter. Vanguard Group Inc. now owns 12,570,816 shares of the company's stock worth $191,705,000 after acquiring an additional 2,993,303 shares in the last quarter. Jennison Associates LLC acquired a new position in Credo Technology Group in the 4th quarter worth $45,362,000. Wellington Management Group LLP acquired a new position in Credo Technology Group in the 4th quarter worth $35,224,000. Assenagon Asset Management S.A. bought a new position in Credo Technology Group during the 3rd quarter worth about $20,537,000. Finally, JPMorgan Chase & Co. raised its stake 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 valued at $131,931,000 after purchasing an additional 1,299,600 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.
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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