Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO Sells $3,704,910.00 in Stock

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

Credo Technology Group Trading Up 2.6 %

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Needham & Company LLC upped their price target on shares of Credo Technology Group from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Craig Hallum upped their target price 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. TD Cowen lifted their price target on shares of Credo Technology Group from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Bank of America upped their price objective on Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Finally, Roth Mkm boosted their price target on Credo Technology Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, Credo Technology Group presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new position in Credo Technology Group during the second quarter valued at approximately $29,000. Fifth Third Bancorp grew its holdings in shares of Credo Technology Group by 59.3% in the second quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 400 shares in the last quarter. CWM LLC raised its stake 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 purchasing an additional 594 shares in the last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Credo Technology Group in the 1st quarter worth $29,000. Finally, Cranbrook Wealth Management LLC bought a new stake in shares of Credo Technology Group in the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

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.