Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 27,500 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $179.33, for a total transaction of $4,931,575.00. Following the completion of the sale, the chief technology officer directly owned 6,052,370 shares in the company, valued at approximately $1,085,371,512.10. This trade represents a 0.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Chi Fung Cheng also recently made the following trade(s):
- On Wednesday, April 22nd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $188.02, for a total transaction of $5,170,550.00.
- On Thursday, April 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $157.58, for a total transaction of $4,333,450.00.
- On Friday, April 10th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $118.25, for a total transaction of $3,251,875.00.
- On Monday, April 6th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $103.19, for a total transaction of $2,837,725.00.
- On Sunday, April 5th, Chi Fung Cheng sold 2,434 shares of Credo Technology Group stock. The shares were sold at an average price of $101.45, for a total transaction of $246,929.30.
- On Tuesday, March 31st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $91.28, for a total transaction of $2,510,200.00.
- On Tuesday, March 24th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $100.67, for a total transaction of $2,768,425.00.
- On Tuesday, March 17th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $107.90, for a total transaction of $2,967,250.00.
- On Wednesday, March 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $117.60, for a total transaction of $3,234,000.00.
- On Thursday, January 29th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $127.37, for a total transaction of $3,502,675.00.
Credo Technology Group Trading Up 5.9%
CRDO stock opened at $175.77 on Thursday. Credo Technology Group Holding Ltd. has a twelve month low of $40.17 and a twelve month high of $213.80. The company's 50 day moving average is $125.11 and its two-hundred day moving average is $139.25. The stock has a market cap of $32.42 billion, a P/E ratio of 97.65 and a beta of 2.72.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.29. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The company had revenue of $407.01 million for the quarter, compared to analysts' expectations of $385.94 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm's revenue for the quarter was up 201.5% on a year-over-year basis. On average, equities research analysts predict that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on CRDO shares. Barclays reissued an "overweight" rating and set a $260.00 price objective on shares of Credo Technology Group in a report on Thursday, January 15th. Craig Hallum reissued a "buy" rating and set a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Stifel Nicolaus set a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Susquehanna cut their price objective on shares of Credo Technology Group from $230.00 to $170.00 and set a "positive" rating on the stock in a report on Tuesday, March 3rd. Finally, Roth Mkm cut their price objective on shares of Credo Technology Group from $250.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group has a consensus rating of "Moderate Buy" and an average price target of $207.81.
View Our Latest Stock Report on CRDO
Institutional Investors Weigh In On Credo Technology Group
Institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC boosted its position 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 purchasing an additional 106 shares in the last quarter. Reflection Asset Management purchased a new stake in shares of Credo Technology Group during the 4th quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Credo Technology Group during the 3rd quarter worth $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Credo Technology Group during the 4th quarter worth $25,000. Finally, First Horizon Corp acquired a new position in shares of Credo Technology Group during the 3rd quarter worth $26,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
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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