Key Points
- CTO Chi Fung Cheng sold 30,000 shares of Credo Technology Group on January 15 at an average price of $155.47 for $4,664,100, and after the trade still holds 6,357,370 shares valued at about $988.38 million (the sale was a 0.47% reduction in his position).
- Across multiple transactions from October 27 to January 15, Cheng has sold a total of 365,000 shares for approximately $55.47 million.
- Credo reported a strong quarter (EPS $0.67 vs. $0.49 est.; revenue $268.03M, +272% YoY), the stock trades near $153 with a market cap of $27.68B, and analysts maintain a consensus Buy rating with an average price target of $220.42.
Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 30,000 shares of the firm's stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $155.47, for a total value of $4,664,100.00. Following the completion of the transaction, the chief technology officer owned 6,357,370 shares in the company, valued at $988,380,313.90. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Chi Fung Cheng also recently made the following trade(s):
- On Thursday, January 8th, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The stock was sold at an average price of $139.93, for a total transaction of $4,197,900.00.
- On Friday, January 2nd, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The shares were sold at an average price of $143.61, for a total transaction of $4,308,300.00.
- On Monday, December 29th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $143.41, for a total transaction of $7,887,550.00.
- On Monday, December 22nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $150.77, for a total transaction of $8,292,350.00.
- On Monday, December 15th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $143.94, for a total transaction of $7,916,700.00.
- On Monday, December 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $174.70, for a total transaction of $9,608,500.00.
- On Monday, October 27th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $156.32, for a total value of $8,597,600.00.
Credo Technology Group Stock Performance
Shares of CRDO opened at $153.22 on Wednesday. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $213.80. The firm has a market cap of $27.68 billion, a price-to-earnings ratio of 134.40 and a beta of 2.66. The business's fifty day moving average is $152.39 and its 200-day moving average is $140.24.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Monday, December 1st. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.18. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The business had revenue of $268.03 million for the quarter, compared to analyst estimates of $234.99 million. During the same period last year, the firm posted $0.07 earnings per share. Credo Technology Group's revenue was up 272.1% compared to the same quarter last year. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.
Analysts Set New Price Targets
CRDO has been the subject of several research reports. Bank of America increased their price objective on shares of Credo Technology Group from $165.00 to $240.00 and gave the company a "buy" rating in a research note on Tuesday, December 2nd. Wall Street Zen upgraded Credo Technology Group from a "hold" rating to a "buy" rating in a research note on Sunday, September 28th. Stifel Nicolaus set a $160.00 price objective on Credo Technology Group in a research report on Wednesday, October 1st. Wolfe Research set a $240.00 target price on Credo Technology Group in a report on Tuesday, December 2nd. Finally, Needham & Company LLC lifted their price target on Credo Technology Group from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $220.42.
Read Our Latest Report on Credo Technology Group
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of CRDO. Savant Capital LLC lifted its stake in Credo Technology Group by 0.7% in the third quarter. Savant Capital LLC now owns 9,914 shares of the company's stock valued at $1,444,000 after purchasing an additional 68 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Credo Technology Group by 16.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company's stock valued at $80,000 after buying an additional 77 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Credo Technology Group by 0.6% in the third quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company's stock valued at $2,298,000 after buying an additional 91 shares during the period. Versant Capital Management Inc lifted its position in shares of Credo Technology Group by 18.0% during the 3rd quarter. Versant Capital Management Inc now owns 663 shares of the company's stock valued at $97,000 after buying an additional 101 shares during the last quarter. Finally, Crewe Advisors LLC grew its stake in shares of Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after acquiring an additional 106 shares during the period. 80.46% of the stock is owned by institutional investors.
Credo Technology Group Company Profile
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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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