Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Sells $3,182,850.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $57.87, for a total value of $3,182,850.00. Following the completion of the transaction, the chief technology officer now directly owns 8,213,602 shares in the company, valued at $475,321,147.74. This represents a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Chi Fung Cheng also recently made the following trade(s):

• On Tuesday, January 21st, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $80.57, for a total transaction of $4,834,200.00.
• On Tuesday, January 14th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $69.57, for a total transaction of $4,174,200.00.
• On Wednesday, January 8th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $72.09, for a total value of $4,325,400.00.
• On Thursday, January 2nd, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $69.22, for a total value of $4,153,200.00.
• On Friday, December 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $68.04, for a total value of $3,742,200.00.
• On Monday, December 2nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $48.57, for a total value of $2,671,350.00.
• On Friday, November 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $47.37, for a total transaction of $2,605,350.00.

Credo Technology Group Trading Up 9.9 %

NASDAQ:CRDO opened at $64.60 on Friday. The firm’s fifty day simple moving average is $67.97 and its 200 day simple moving average is $45.55. The firm has a market capitalization of $10.80 billion, a PE ratio of -430.67 and a beta of 2.11. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRDO shares. Roth Mkm boosted their target price on Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their price target on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, January 10th. TD Cowen boosted their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Mizuho raised their price target on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average price target of $76.40.

Institutional Trading of Credo Technology Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its stake in Credo Technology Group by 110.6% during the second quarter. Thrivent Financial for Lutherans now owns 82,653 shares of the company’s stock valued at $2,640,000 after acquiring an additional 43,411 shares during the period. Xponance Inc. acquired a new stake in Credo Technology Group during the second quarter worth $257,000. Millennium Management LLC increased its holdings in Credo Technology Group by 20.5% in the 2nd quarter. Millennium Management LLC now owns 1,470,970 shares of the company’s stock valued at $46,983,000 after buying an additional 250,027 shares during the period. Algert Global LLC acquired a new position in shares of Credo Technology Group in the 2nd quarter valued at $622,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Credo Technology Group by 4.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,239,479 shares of the company’s stock worth $39,589,000 after acquiring an additional 55,135 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, 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, as well as integrated circuits, active electrical cables.