Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) CFO Daniel W. Fleming sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $17.52, for a total value of $87,600.00. Following the completion of the transaction, the chief financial officer now owns 674,698 shares of the company’s stock, valued at $11,820,708.96. The transaction was disclosed in a filing with the SEC, which is available at this link.
Credo Technology Group Price Performance
CRDO opened at $17.57 on Monday. The business has a 50 day simple moving average of $15.34 and a two-hundred day simple moving average of $15.08. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of -92.47 and a beta of 2.04. Credo Technology Group Holding Ltd has a one year low of $7.20 and a one year high of $19.46.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings results on Thursday, August 24th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $35.10 million during the quarter, compared to analyst estimates of $34.27 million. Credo Technology Group had a negative return on equity of 5.41% and a negative net margin of 16.30%. Credo Technology Group’s quarterly revenue was down 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd will post -0.15 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
A number of research firms have recently issued reports on CRDO. Craig Hallum upped their price objective on Credo Technology Group from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 9th. TheStreet cut Credo Technology Group from a “c-” rating to a “d+” rating in a report on Wednesday, September 20th. Needham & Company LLC upped their price objective on Credo Technology Group from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Bank of America upped their price objective on Credo Technology Group from $14.00 to $16.00 and gave the stock an “underperform” rating in a report on Friday, August 25th. Finally, TD Cowen upped their price objective on Credo Technology Group from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of “Moderate Buy” and a consensus price target of $15.92.
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.
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