Chi Fung Cheng Sells 55,000 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $57.87, for a total value of $3,182,850.00. Following the transaction, the chief technology officer now directly owns 8,213,602 shares of the company’s stock, valued at approximately $475,321,147.74. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Chi Fung Cheng also recently made the following trade(s):

• On Tuesday, January 21st, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $80.57, for a total transaction of $4,834,200.00.
• On Tuesday, January 14th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $69.57, for a total value of $4,174,200.00.
• On Wednesday, January 8th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $72.09, for a total transaction of $4,325,400.00.
• On Thursday, January 2nd, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The stock was sold at an average price of $69.22, for a total transaction of $4,153,200.00.
• On Friday, December 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $68.04, for a total transaction of $3,742,200.00.
• On Monday, December 2nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $48.57, for a total value of $2,671,350.00.
• On Friday, November 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $47.37, for a total value of $2,605,350.00.

Credo Technology Group Trading Up 1.1 %

NASDAQ CRDO traded up $0.64 during trading hours on Wednesday, reaching $58.79. The company’s stock had a trading volume of 5,645,514 shares, compared to its average volume of 5,503,013. The stock has a market cap of $9.83 billion, a PE ratio of -391.93 and a beta of 2.11. The business has a 50-day simple moving average of $67.29 and a 200 day simple moving average of $45.32. Credo Technology Group Holding Ltd has a 52 week low of $16.82 and a 52 week high of $86.69.

Institutional Trading of Credo Technology Group

Several hedge funds have recently made changes to their positions in CRDO. Legato Capital Management LLC bought a new stake in Credo Technology Group in the fourth quarter valued at $1,546,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Credo Technology Group by 72,952.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 79,627 shares of the company’s stock worth $5,367,000 after acquiring an additional 79,518 shares during the period. Gladstone Institutional Advisory LLC acquired a new position in Credo Technology Group during the 4th quarter valued at about $279,000. Comprehensive Financial Planning Inc. PA bought a new position in Credo Technology Group in the 4th quarter worth about $146,000. Finally, WCM Investment Management LLC bought a new position in Credo Technology Group in the 4th quarter worth about $10,685,000. Institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRDO shares. Mizuho raised their price target on Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Needham & Company LLC boosted their target price on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Susquehanna initiated coverage on shares of Credo Technology Group in a research note on Tuesday, December 17th. They set a “neutral” rating and a $80.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Roth Mkm boosted their price target on Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.40.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, 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, as well as integrated circuits, active electrical cables.