Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Sells $4,618,955.34 in Stock

by · The Markets Daily

Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) Director Lip Bu Tan sold 143,046 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $32.29, for a total transaction of $4,618,955.34. Following the completion of the transaction, the director now owns 2,270,679 shares in the company, valued at $73,320,224.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lip Bu Tan also recently made the following trade(s):

  • On Friday, October 4th, Lip Bu Tan sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $32.10, for a total value of $3,210,000.00.
  • On Wednesday, October 2nd, Lip Bu Tan sold 150,000 shares of Credo Technology Group stock. The shares were sold at an average price of $30.50, for a total value of $4,575,000.00.
  • On Monday, September 30th, Lip Bu Tan sold 13,820 shares of Credo Technology Group stock. The shares were sold at an average price of $31.12, for a total value of $430,078.40.
  • On Monday, July 15th, Lip Bu Tan sold 245,438 shares of Credo Technology Group stock. The stock was sold at an average price of $32.67, for a total transaction of $8,018,459.46.
  • On Friday, July 12th, Lip Bu Tan sold 12,845 shares of Credo Technology Group stock. The shares were sold at an average price of $31.51, for a total transaction of $404,745.95.
  • On Wednesday, July 10th, Lip Bu Tan sold 6,110 shares of Credo Technology Group stock. The stock was sold at an average price of $31.33, for a total transaction of $191,426.30.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $35.17 on Thursday. The firm has a market capitalization of $5.81 billion, a PE ratio of -195.39 and a beta of 2.24. Credo Technology Group Holding Ltd has a 1-year low of $13.38 and a 1-year high of $36.80. The business’s fifty day moving average price is $30.05 and its two-hundred day moving average price is $26.22.

Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $59.71 million during the quarter, compared to analyst estimates of $59.50 million. Credo Technology Group had a negative return on equity of 3.74% and a negative net margin of 12.05%. Equities research analysts expect that Credo Technology Group Holding Ltd will post -0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays lifted their price target on Credo Technology Group from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Craig Hallum boosted their price target on Credo Technology Group from $30.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Needham & Company LLC upped their price target on Credo Technology Group from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. TD Cowen raised shares of Credo Technology Group to a “strong-buy” rating in a report on Monday, September 16th. Finally, Roth Mkm increased their target price on shares of Credo Technology Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.22.

Get Our Latest Stock Report on Credo Technology Group

Hedge Funds Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new stake in Credo Technology Group in the 4th quarter valued at approximately $35,224,000. Vanguard Group Inc. grew its stake in shares of Credo Technology Group by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 13,991,480 shares of the company’s stock worth $272,414,000 after purchasing an additional 1,420,664 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Credo Technology Group during the first quarter valued at $97,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Credo Technology Group during the first quarter valued at $276,000. Finally, AMF Tjanstepension AB raised its stake in shares of Credo Technology Group by 31.8% during the first quarter. AMF Tjanstepension AB now owns 1,713,149 shares of the company’s stock valued at $36,302,000 after purchasing an additional 413,149 shares in the last quarter. 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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