Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Chi Fung Cheng Sells 60,000 Shares of Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Chi Fung Cheng sold 60,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $80.57, for a total transaction of $4,834,200.00. Following the sale, the chief technology officer now owns 8,268,602 shares in the company, valued at $666,201,263.14. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

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

Credo Technology Group Stock Performance

CRDO stock opened at $84.18 on Friday. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $86.69. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of -561.20 and a beta of 2.11. The firm has a 50-day simple moving average of $65.04 and a two-hundred day simple moving average of $44.15.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Craig Hallum raised their price target on Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna assumed coverage on shares of Credo Technology Group in a report on Tuesday, December 17th. They set a “neutral” rating and a $80.00 price objective for the company. Roth Mkm raised their target price on shares of Credo Technology Group from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America upgraded Credo Technology Group from an “underperform” rating to a “buy” rating and boosted their price target for the company from $27.00 to $80.00 in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus raised their price objective on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.40.

Institutional Investors Weigh In On Credo Technology Group

Several institutional investors have recently bought and sold shares of CRDO. Nisa Investment Advisors LLC lifted its holdings in shares of Credo Technology Group by 8.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $225,000 after purchasing an additional 255 shares during the last quarter. Assetmark Inc. raised its stake in Credo Technology Group by 5.4% in the third quarter. Assetmark Inc. now owns 4,978 shares of the company’s stock valued at $153,000 after buying an additional 257 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Credo Technology Group by 56.3% in the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock worth $65,000 after acquiring an additional 351 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Credo Technology Group by 11.3% during the third quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company’s stock worth $145,000 after acquiring an additional 478 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Credo Technology Group by 4.2% in the third quarter. US Bancorp DE now owns 16,210 shares of the company’s stock valued at $499,000 after purchasing an additional 649 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.