Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) insider James Laufman sold 20,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $31.36, for a total transaction of $627,200.00. Following the transaction, the insider now owns 302,466 shares in the company, valued at $9,485,333.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Credo Technology Group Stock Up 1.6 %
NASDAQ:CRDO opened at $30.43 on Thursday. The stock has a market cap of $5.03 billion, a P/E ratio of -169.06 and a beta of 2.26. The firm’s fifty day simple moving average is $29.49 and its 200 day simple moving average is $25.76. Credo Technology Group Holding Ltd has a twelve month low of $13.38 and a twelve month high of $36.80.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $59.71 million during the quarter, compared to the consensus estimate of $59.50 million. Credo Technology Group had a negative net margin of 12.05% and a negative return on equity of 3.74%. On average, analysts expect that Credo Technology Group Holding Ltd will post -0.02 EPS for the current fiscal year.
Analysts Set New Price Targets
Read Our Latest Analysis on Credo Technology Group
Hedge Funds Weigh In On Credo Technology Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRDO. Arcadia Investment Management Corp MI purchased a new position in Credo Technology Group during the second quarter valued at $29,000. Fifth Third Bancorp lifted its position 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 period. Covestor Ltd lifted its position in Credo Technology Group by 19,240.0% during the first quarter. Covestor Ltd now owns 1,934 shares of the company’s stock valued at $41,000 after buying an additional 1,924 shares during the period. CWM LLC lifted its position in 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 buying an additional 594 shares during the period. Finally, Cranbrook Wealth Management LLC purchased a new position in Credo Technology Group during the second quarter valued at $51,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.
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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