Credo Technology Group Holding Ltd (NASDAQ:CRDO) Insider James Laufman Sells 8,000 Shares of Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) insider James Laufman sold 8,000 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $39.09, for a total transaction of $312,720.00. Following the completion of the sale, the insider now directly owns 271,725 shares in the company, valued at approximately $10,621,730.25. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Credo Technology Group Stock Down 3.7 %

Shares of NASDAQ:CRDO opened at $37.72 on Thursday. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 month high of $86.69. The firm has a market cap of $6.40 billion, a P/E ratio of -251.47 and a beta of 2.30. The company’s 50-day moving average price is $50.13 and its two-hundred day moving average price is $54.41.

Institutional Trading of Credo Technology Group

Several hedge funds have recently modified their holdings of CRDO. Proficio Capital Partners LLC acquired a new position in Credo Technology Group during the 4th quarter worth $700,000. Pacer Advisors Inc. lifted its stake in shares of Credo Technology Group by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 3,906 shares of the company’s stock valued at $263,000 after acquiring an additional 907 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Credo Technology Group by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company’s stock valued at $79,289,000 after acquiring an additional 43,169 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Credo Technology Group by 22.7% in the third quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company’s stock valued at $61,415,000 after acquiring an additional 368,518 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in Credo Technology Group by 3.4% in the fourth quarter. Vontobel Holding Ltd. now owns 19,584 shares of the company’s stock worth $1,316,000 after purchasing an additional 635 shares during the period. 80.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Susquehanna upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target on shares of Credo Technology Group in a research report on Wednesday, March 5th. The Goldman Sachs Group lifted their price objective on Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday, January 10th. Mizuho lowered their target price on shares of Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Thursday, April 3rd. Finally, Stifel Nicolaus lifted their price target on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $74.60.

About Credo Technology Group

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.