Daniel W. Fleming Sells 3,790 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Daniel W. Fleming sold 3,790 shares of Credo Technology Group stock in a transaction on Friday, January 10th. The stock was sold at an average price of $72.61, for a total value of $275,191.90. Following the sale, the chief financial officer now directly owns 638,564 shares of the company’s stock, valued at approximately $46,366,132.04. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $75.48 on Thursday. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of -503.20 and a beta of 2.11. The stock’s 50-day moving average is $61.66 and its 200-day moving average is $42.43. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $78.97.

Institutional Trading of Credo Technology Group

A number of institutional investors have recently modified their holdings of CRDO. Dimensional Fund Advisors LP lifted its holdings in shares of Credo Technology Group by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,112,656 shares of the company’s stock valued at $67,473,000 after purchasing an additional 242,428 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Credo Technology Group by 10.0% in the second quarter. Renaissance Technologies LLC now owns 865,938 shares of the company’s stock valued at $27,658,000 after purchasing an additional 78,700 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Credo Technology Group during the second quarter worth about $869,000. Connors Investor Services Inc. raised its holdings in Credo Technology Group by 2.5% during the second quarter. Connors Investor Services Inc. now owns 125,326 shares of the company’s stock worth $4,003,000 after acquiring an additional 3,034 shares in the last quarter. Finally, Cranbrook Wealth Management LLC bought a new stake in Credo Technology Group during the second quarter worth about $51,000. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Mizuho lifted their price objective 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. The Goldman Sachs Group lifted their price objective on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Susquehanna assumed coverage on Credo Technology Group in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 target price for the company. Finally, TD Cowen boosted their target price on Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

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.