Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO Sells $306,600.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Free Report) CEO William Joseph Brennan sold 15,000 shares of Credo Technology Group stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $20.44, for a total value of $306,600.00. Following the sale, the chief executive officer now directly owns 3,142,500 shares of the company’s stock, valued at approximately $64,232,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

William Joseph Brennan also recently made the following trade(s):

  • 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 value of $315,750.00.
  • On Thursday, January 18th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $19.31, for a total value of $289,650.00.
  • On Thursday, December 28th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $19.95, for a total value of $299,250.00.
  • On Tuesday, December 12th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $18.09, for a total value of $271,350.00.
  • On Thursday, November 16th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $17.23, for a total value of $258,450.00.

Credo Technology Group Trading Down 2.5 %

Shares of CRDO stock traded down $0.54 on Monday, hitting $21.31. 1,850,250 shares of the stock were exchanged, compared to its average volume of 2,225,490. The firm has a market capitalization of $3.21 billion, a PE ratio of -100.57 and a beta of 2.06. Credo Technology Group Holding Ltd has a one year low of $7.20 and a one year high of $22.49. The firm’s 50 day moving average is $19.47 and its two-hundred day moving average is $17.03.

Credo Technology Group (NASDAQ:CRDOGet Free Report) last posted its quarterly earnings results on Wednesday, November 29th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $44.04 million during the quarter, compared to the consensus estimate of $42.66 million. Credo Technology Group had a negative return on equity of 7.98% and a negative net margin of 19.00%. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 EPS. On average, sell-side analysts expect that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada bought a new position in Credo Technology Group in the 1st quarter worth about $26,000. Ameritas Investment Partners Inc. bought a new position in Credo Technology Group in the 1st quarter worth about $26,000. Advisors Asset Management Inc. boosted its stake 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 worth $28,000 after purchasing an additional 1,376 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of Credo Technology Group in the 4th quarter valued at about $40,000. Finally, UBS Group AG purchased a new stake in shares of Credo Technology Group in the 1st quarter valued at about $69,000. Institutional investors own 54.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of analyst reports. TD Cowen increased their price target on Credo Technology Group from $16.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, November 30th. The Goldman Sachs Group increased their price target on Credo Technology Group from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. Mizuho increased their price target on Credo Technology Group from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. Stifel Nicolaus upped their price objective on Credo Technology Group from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $24.00 price objective on shares of Credo Technology Group in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.92.

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Credo Technology Group Company Profile

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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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