Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO Sells $334,650.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.31, for a total transaction of $334,650.00. Following the sale, the chief executive officer now directly owns 3,022,500 shares in the company, valued at approximately $67,431,975. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, March 27th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.58, for a total transaction of $323,700.00.
• 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 transaction 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 stock was sold at an average price of $20.44, for a total transaction 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 transaction of $289,650.00.

Credo Technology Group Trading Up 2.1 %

Shares of CRDO stock traded up $0.44 on Monday, reaching $21.80. The company’s stock had a trading volume of 1,160,669 shares, compared to its average volume of 2,209,773. The stock’s fifty day simple moving average is $21.49 and its 200-day simple moving average is $18.88. Credo Technology Group Holding Ltd has a 1 year low of $7.20 and a 1 year high of $23.90. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -93.91 and a beta of 1.97.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRDO. Needham & Company LLC lifted their price objective on shares of Credo Technology Group from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Mizuho reiterated a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of Credo Technology Group in a research report on Wednesday, February 28th. The Goldman Sachs Group lifted their price objective on shares of Credo Technology Group from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, TD Cowen lifted their price objective on shares of Credo Technology Group from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada purchased a new stake in shares of Credo Technology Group during the first quarter valued at $26,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Credo Technology Group during the first quarter valued at $26,000. Advisors Asset Management Inc. boosted its stake in shares of Credo Technology Group by 295.9% during 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 period. KBC Group NV purchased a new stake in shares of Credo Technology Group during the fourth quarter valued at $43,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Credo Technology Group during the fourth quarter valued at $40,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Company Profile

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.