William Joseph Brennan Sells 143,880 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan sold 143,880 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $25.75, for a total transaction of $3,704,910.00. Following the transaction, the chief executive officer now owns 2,529,738 shares of the company’s stock, valued at $65,140,753.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Credo Technology Group Stock Performance

CRDO stock opened at $26.65 on Thursday. Credo Technology Group Holding Ltd has a 52-week low of $13.38 and a 52-week high of $36.80. The company has a market capitalization of $4.40 billion, a P/E ratio of -148.06 and a beta of 2.26. The company has a fifty day moving average price of $30.11 and a 200-day moving average price of $24.94.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Ulland Investment Advisors LLC acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $29,000. Arcadia Investment Management Corp MI bought a new stake in Credo Technology Group in the second quarter valued at approximately $29,000. Fifth Third Bancorp increased its position in Credo Technology Group by 59.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 400 shares during the period. Covestor Ltd raised its holdings in Credo Technology Group by 19,240.0% during the 1st quarter. Covestor Ltd now owns 1,934 shares of the company’s stock worth $41,000 after purchasing an additional 1,924 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Credo Technology Group by 78.1% in the 2nd quarter. CWM LLC now owns 1,355 shares of the company’s stock worth $43,000 after purchasing an additional 594 shares during the period. 80.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CRDO. Bank of America boosted their price target on Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Barclays increased their target price on shares of Credo Technology Group from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Craig Hallum lifted their price target 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. Stifel Nicolaus increased 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, September 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. One investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.00.

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.