Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Sells $3,182,850.00 in Stock

Posted by Carolyn Dwyer on Feb 1st, 2025

Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $57.87, for a total value of $3,182,850.00. Following the completion of the sale, the chief technology officer now owns 8,213,602 shares of the company’s stock, valued at approximately $475,321,147.74. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

On Tuesday, January 21st, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $80.57, for a total value of $4,834,200.00.
On Tuesday, January 14th, Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock. The shares were sold at an average price of $69.57, for a total transaction 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 transaction 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 transaction of $4,153,200.00.
On Friday, December 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $68.04, for a total transaction 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 shares were sold at an average price of $47.37, for a total transaction of $2,605,350.00.

Credo Technology Group Stock Up 8.4 %

NASDAQ CRDO opened at $70.02 on Friday. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of -466.80 and a beta of 2.11. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69. The stock has a fifty day simple moving average of $68.45 and a 200 day simple moving average of $45.80.

Wall Street Analysts Forecast Growth

CRDO has been the subject of several research analyst reports. Needham & Company LLC upped their price target on shares of Credo Technology Group from $43.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Bank of America upgraded shares of Credo Technology Group from an “underperform” rating to a “buy” rating and upped their price target for the stock from $27.00 to $80.00 in a report on Tuesday, December 3rd. Craig Hallum upped their price target on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. TD Cowen upped their price target on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Roth Mkm upped their price target on shares of Credo Technology Group from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.40.

Read Our Latest Report on Credo Technology Group

Institutional Trading of Credo Technology Group

Institutional investors have recently bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in Credo Technology Group during the fourth quarter valued at $38,000. WASHINGTON TRUST Co bought a new stake in Credo Technology Group during the fourth quarter valued at $43,000. Principal Securities Inc. boosted its position in Credo Technology Group by 626.1% during the fourth quarter. Principal Securities Inc. now owns 668 shares of the company’s stock valued at $45,000 after acquiring an additional 576 shares during the last quarter. Allworth Financial LP boosted its position in Credo Technology Group by 917.9% during the third quarter. Allworth Financial LP now owns 855 shares of the company’s stock valued at $26,000 after acquiring an additional 771 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Credo Technology Group during the third quarter valued at $30,000. Institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

(Get Free Report)

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.