Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) CFO Daniel W. Fleming sold 108,790 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $31.10, for a total value of $3,383,369.00. Following the transaction, the chief financial officer now directly owns 676,386 shares of the company’s stock, valued at $21,035,604.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Credo Technology Group Stock Up 1.6 %
Shares of Credo Technology Group stock traded up $0.47 during midday trading on Wednesday, hitting $30.43. The company’s stock had a trading volume of 1,714,965 shares, compared to its average volume of 2,225,778. The firm has a market capitalization of $5.03 billion, a P/E ratio of -166.44 and a beta of 2.26. The stock has a 50-day simple moving average of $29.49 and a 200-day simple moving average of $25.76. Credo Technology Group Holding Ltd has a 1-year low of $13.38 and a 1-year high of $36.80.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Credo Technology Group had a negative return on equity of 3.74% and a negative net margin of 12.05%. The firm had revenue of $59.71 million for the quarter, compared to analysts’ expectations of $59.50 million. As a group, sell-side analysts predict that Credo Technology Group Holding Ltd will post -0.02 earnings per share for the current year.
Institutional Trading of Credo Technology Group
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on CRDO. Craig Hallum raised their price objective on Credo Technology Group from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. TD Cowen raised Credo Technology Group to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America raised 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. Stifel Nicolaus raised their price objective on Credo Technology Group from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group raised their price objective on 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, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.
Read Our Latest Research Report on CRDO
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.
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