Insider Selling: Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO Sells 15,000 Shares of Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Free Report) CEO William Joseph Brennan sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $21.58, for a total value of $323,700.00. Following the transaction, the chief executive officer now owns 3,052,500 shares of the company’s stock, valued at approximately $65,872,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

William Joseph Brennan also recently made the following trade(s):

  • On Wednesday, March 13th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $20.55, for a total value of $308,250.00.
  • On Thursday, February 15th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $22.39, for a total transaction of $335,850.00.
  • On Thursday, February 1st, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $20.44, for a total value of $306,600.00.
  • On Tuesday, January 30th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.05, for a total transaction of $315,750.00.
  • On Thursday, January 18th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $19.31, for a total value of $289,650.00.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $21.19 on Friday. Credo Technology Group Holding Ltd has a fifty-two week low of $7.20 and a fifty-two week high of $23.90. The business’s 50-day simple moving average is $21.47 and its 200-day simple moving average is $18.62. The stock has a market capitalization of $3.46 billion, a PE ratio of -92.13 and a beta of 2.00.

Credo Technology Group (NASDAQ:CRDOGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Credo Technology Group had a negative net margin of 20.59% and a negative return on equity of 7.82%. The business had revenue of $53.06 million for the quarter, compared to analyst estimates of $51.91 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts expect that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRDO. The Goldman Sachs Group lifted their target price on shares of Credo Technology Group from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. TD Cowen increased their price target on Credo Technology Group from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Mizuho restated a “buy” rating and set a $30.00 price target (up from $28.00) on shares of Credo Technology Group in a research note on Wednesday, February 28th. Finally, Needham & Company LLC increased their price objective on Credo Technology Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Credo Technology Group currently has an average rating of “Moderate Buy” and an average price target of $23.00.

View Our Latest Stock Analysis on CRDO

Hedge Funds Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada acquired a new position in shares of Credo Technology Group in the first quarter valued at approximately $26,000. Ameritas Investment Partners Inc. bought a new position in shares of Credo Technology Group in the first quarter worth about $26,000. Advisors Asset Management Inc. raised its position in Credo Technology Group by 295.9% in the third quarter. Advisors Asset Management Inc. now owns 1,841 shares of the company’s stock valued at $28,000 after purchasing an additional 1,376 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Credo Technology Group during the fourth quarter valued at about $40,000. Finally, KBC Group NV bought a new stake in shares of Credo Technology Group during the fourth quarter worth about $43,000. 80.46% of the stock is owned by institutional investors.

About Credo Technology Group

(Get Free Report)

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

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