Key Points
- Sylvia Acevedo, a Credo director, sold 2,200 shares on January 13 at an average price of $159.18 for $350,196, cutting her holding by 10.6% to 18,545 shares.
- Credo reported a strong quarter on December 1, posting $0.67 EPS versus a $0.49 estimate and revenue of $268.03 million, up 272% year‑over‑year with a 26.63% net margin.
- Analysts are largely bullish with an average consensus target of $220.42 and multiple firms setting targets at $240, while the stock trades within a one‑year range of $29.09–$213.80 and a market cap of $26.94 billion.
Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) Director Sylvia Acevedo sold 2,200 shares of Credo Technology Group stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $159.18, for a total value of $350,196.00. Following the sale, the director directly owned 18,545 shares in the company, valued at $2,951,993.10. The trade was a 10.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Sylvia Acevedo also recently made the following trade(s):
- On Friday, December 5th, Sylvia Acevedo sold 1,875 shares of Credo Technology Group stock. The stock was sold at an average price of $185.17, for a total value of $347,193.75.
Credo Technology Group Stock Performance
Shares of CRDO opened at $149.12 on Friday. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $213.80. The stock's fifty day moving average is $153.14 and its 200-day moving average is $138.29. The firm has a market capitalization of $26.94 billion, a price-to-earnings ratio of 130.81 and a beta of 2.66.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data on Monday, December 1st. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.18. The business had revenue of $268.03 million during the quarter, compared to the consensus estimate of $234.99 million. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The company's quarterly revenue was up 272.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. Analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.
Institutional Trading of Credo Technology Group
Several hedge funds and other institutional investors have recently modified their holdings of CRDO. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Credo Technology Group by 64.3% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,987 shares of the company's stock valued at $718,000 after buying an additional 1,952 shares during the period. Silver Oak Securities Incorporated grew its stake in Credo Technology Group by 51.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 7,442 shares of the company's stock valued at $1,078,000 after acquiring an additional 2,530 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Credo Technology Group by 20.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 219,820 shares of the company's stock valued at $31,483,000 after purchasing an additional 37,958 shares during the period. Zevenbergen Capital Investments LLC lifted its position in shares of Credo Technology Group by 121.6% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 195,247 shares of the company's stock worth $28,094,000 after purchasing an additional 107,147 shares in the last quarter. Finally, Private Advisory Group LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth approximately $989,000. Institutional investors and hedge funds own 80.46% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. New Street Research set a $240.00 target price on Credo Technology Group in a research report on Tuesday, December 2nd. KGI Securities upgraded Credo Technology Group from a "hold" rating to an "outperform" rating and set a $230.00 price objective for the company in a report on Tuesday, December 2nd. Wolfe Research set a $240.00 target price on Credo Technology Group in a research note on Tuesday, December 2nd. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Finally, Bank of America upped their price target on shares of Credo Technology Group from $165.00 to $240.00 and gave the company a "buy" rating in a report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $220.42.
Read Our Latest Stock Analysis on CRDO
About Credo Technology Group
(
Get Free Report)
Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.
Credo's product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.
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