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 the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $32.06, for a total transaction of $1,763,300.00. Following the sale, the chief technology officer now owns 9,113,602 shares in the company, valued at $292,182,080.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, August 19th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $31.08, for a total transaction of $1,709,400.00.
• On Friday, August 9th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $27.33, for a total value of $1,503,150.00.
• On Thursday, August 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $26.85, for a total value of $1,476,750.00.
• On Friday, July 19th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $29.30, for a total value of $1,611,500.00.
• On Thursday, July 11th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $30.63, for a total value of $1,684,650.00.
• On Friday, June 21st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $27.49, for a total value of $1,511,950.00.
• On Thursday, June 13th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $28.99, for a total transaction of $1,594,450.00.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $26.65 on Friday. Credo Technology Group Holding Ltd has a 1 year low of $13.38 and a 1 year high of $36.80. The stock has a market capitalization of $4.40 billion, a P/E ratio of -148.06 and a beta of 2.23. The stock has a 50-day simple moving average of $30.63 and a 200-day simple moving average of $24.84.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays boosted their target price on shares of Credo Technology Group from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday. Roth Mkm boosted their target price on shares of Credo Technology Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America boosted their target price on shares of Credo Technology Group from $25.00 to $27.00 and gave the company an “underperform” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of Credo Technology Group from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Craig Hallum upped their price objective on shares of Credo Technology Group from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.44.

Institutional Trading of Credo Technology Group

A number of institutional investors have recently modified their holdings of CRDO. Ulland Investment Advisors LLC purchased a new position in Credo Technology Group in the 1st quarter worth approximately $29,000. Arcadia Investment Management Corp MI purchased a new position in Credo Technology Group in the 2nd quarter worth approximately $29,000. Fifth Third Bancorp boosted its holdings in Credo Technology Group by 59.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock worth $34,000 after acquiring an additional 400 shares during the period. Covestor Ltd boosted its holdings in Credo Technology Group by 19,240.0% in the 1st quarter. Covestor Ltd now owns 1,934 shares of the company’s stock worth $41,000 after acquiring an additional 1,924 shares during the period. Finally, CWM LLC boosted its stake in shares of Credo Technology Group by 78.1% during the 2nd 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 last quarter. 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.