Insider Selling: Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Sells $65,125.00 in Stock

Posted by on Mar 6th, 2023

Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) CTO Chi Fung Cheng sold 6,250 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $10.42, for a total value of $65,125.00. Following the completion of the transaction, the chief technology officer now directly owns 11,257,352 shares in the company, valued at $117,301,607.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

  • On Friday, February 24th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $10.50, for a total value of $420,000.00.
  • On Thursday, February 9th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $18.59, for a total value of $743,600.00.
  • On Thursday, January 26th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $17.30, for a total value of $692,000.00.
  • On Tuesday, January 17th, Chi Fung Cheng sold 39,200 shares of Credo Technology Group stock. The stock was sold at an average price of $15.00, for a total value of $588,000.00.
  • On Thursday, January 12th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $13.80, for a total value of $552,000.00.
  • On Thursday, January 5th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $12.31, for a total value of $492,400.00.
  • On Thursday, December 22nd, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $13.06, for a total value of $522,400.00.
  • On Thursday, December 8th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $15.04, for a total value of $601,600.00.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $10.31 on Monday. The stock has a market cap of $1.51 billion, a PE ratio of -257.75 and a beta of 2.08. Credo Technology Group Holding Ltd has a one year low of $8.61 and a one year high of $19.46. The stock has a fifty day moving average of $14.16 and a 200 day moving average of $13.53.

Analyst Ratings Changes

Several research firms recently weighed in on CRDO. Stifel Nicolaus dropped their price target on Credo Technology Group from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, February 15th. Mizuho dropped their price target on Credo Technology Group from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 15th. Cowen lowered Credo Technology Group from an “outperform” rating to a “market perform” rating and set a $11.00 price target on the stock. in a research report on Wednesday, February 15th. Bank of America lowered Credo Technology Group from a “buy” rating to an “underperform” rating and dropped their price target for the company from $18.00 to $12.00 in a research report on Wednesday, February 15th. Finally, Roth Mkm dropped their price target on Credo Technology Group from $20.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, February 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Institutional Trading of Credo Technology Group

A number of hedge funds have recently bought and sold shares of CRDO. Ameritas Investment Partners Inc. purchased a new stake in Credo Technology Group during the first quarter valued at $26,000. Royal Bank of Canada purchased a new stake in Credo Technology Group in the first quarter worth about $26,000. IFP Advisors Inc purchased a new stake in Credo Technology Group in the third quarter worth about $27,000. Assetmark Inc. increased its position in Credo Technology Group by 35.9% in the fourth quarter. Assetmark Inc. now owns 2,132 shares of the company’s stock worth $28,000 after buying an additional 563 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in Credo Technology Group in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 40.46% of the company’s stock.

Credo Technology Group Company Profile

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Credo 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 integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.

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Insider Buying and Selling by Quarter for Credo Technology Group (NASDAQ:CRDO)

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