Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) CEO William Joseph Brennan sold 15,000 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $19.16, for a total transaction of $287,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,992,500 shares of the company’s stock, valued at $57,336,300. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
William Joseph Brennan also recently made the following trade(s):
- On Thursday, April 4th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $22.31, for a total transaction of $334,650.00.
- On Wednesday, March 27th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.58, for a total value of $323,700.00.
- On Wednesday, March 13th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $20.55, for a total value of $308,250.00.
- On Thursday, February 15th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $22.39, for a total transaction of $335,850.00.
- On Thursday, February 1st, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $20.44, for a total value of $306,600.00.
- On Tuesday, January 30th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.05, for a total transaction of $315,750.00.
Credo Technology Group Stock Performance
CRDO traded down $0.60 on Thursday, reaching $17.99. The company had a trading volume of 2,171,166 shares, compared to its average volume of 2,175,057. Credo Technology Group Holding Ltd has a fifty-two week low of $7.20 and a fifty-two week high of $23.90. The company’s fifty day moving average is $21.46 and its 200 day moving average is $19.18. The stock has a market cap of $2.94 billion, a P/E ratio of -78.22 and a beta of 1.97.
Institutional Trading of Credo Technology Group
Large investors have recently modified their holdings of the stock. Royal Bank of Canada acquired a new position in Credo Technology Group in the first quarter valued at about $26,000. Ameritas Investment Partners Inc. acquired a new stake in Credo Technology Group during the first quarter worth about $26,000. Advisors Asset Management Inc. increased its holdings in Credo Technology Group by 295.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,841 shares of the company’s stock valued at $28,000 after buying an additional 1,376 shares during the period. KBC Group NV acquired a new position in shares of Credo Technology Group in the 4th quarter valued at approximately $43,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $40,000. 80.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Mizuho reissued a “buy” rating and set a $30.00 target price (up from $28.00) on shares of Credo Technology Group in a research note on Wednesday, February 28th. Needham & Company LLC upped their target price on shares of Credo Technology Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. TD Cowen boosted their price objective on shares of Credo Technology Group from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Finally, Craig Hallum increased their price target on Credo Technology Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.
Get Our Latest Report on Credo Technology Group
About Credo Technology Group
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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