Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan Sells 143,880 Shares of Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan sold 143,880 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $25.75, for a total transaction of $3,704,910.00. Following the sale, the chief executive officer now owns 2,529,738 shares of the company’s stock, valued at $65,140,753.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Credo Technology Group Price Performance

NASDAQ:CRDO traded up $0.64 during mid-day trading on Tuesday, hitting $24.90. 3,457,697 shares of the company’s stock were exchanged, compared to its average volume of 2,223,524. Credo Technology Group Holding Ltd has a one year low of $13.38 and a one year high of $36.80. The business has a fifty day moving average price of $30.24 and a 200 day moving average price of $24.92. The company has a market cap of $4.13 billion, a PE ratio of -138.61 and a beta of 2.26.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRDO shares. Bank of America increased their target price on shares of Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Roth Mkm lifted their price objective on Credo Technology Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. TD Cowen upped their target price on Credo Technology Group from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, July 15th. Craig Hallum lifted their price target on shares of Credo Technology Group from $30.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, Stifel Nicolaus upped their price objective on shares of Credo Technology Group from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Trading of Credo Technology Group

A number of hedge funds have recently made changes to their positions in CRDO. Fifth Third Bancorp raised its stake in Credo Technology Group by 59.3% during the second quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 400 shares during the last quarter. CWM LLC increased its holdings in shares of Credo Technology Group by 78.1% during the second quarter. CWM LLC now owns 1,355 shares of the company’s stock valued at $43,000 after acquiring an additional 594 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Credo Technology Group in the 2nd quarter worth about $29,000. Advisors Asset Management Inc. increased its stake in Credo Technology Group by 47.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,811 shares of the company’s stock valued at $81,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Credo Technology Group by 30.1% in the fourth quarter. Assetmark Inc. now owns 5,460 shares of the company’s stock worth $106,000 after buying an additional 1,263 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Company Profile

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.