Insider Selling: Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Sells $154,442.50 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CFO Daniel W. Fleming sold 3,790 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $40.75, for a total value of $154,442.50. Following the transaction, the chief financial officer now owns 608,602 shares of the company’s stock, valued at $24,800,531.50. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Credo Technology Group Trading Down 3.2 %

Credo Technology Group stock opened at $36.52 on Friday. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69. The company’s 50-day moving average is $49.32 and its two-hundred day moving average is $54.45. The company has a market cap of $6.20 billion, a PE ratio of -243.47 and a beta of 2.30.

Analyst Ratings Changes

Several research firms have issued reports on CRDO. Susquehanna upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Mizuho cut their price target on shares of Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Bank of America decreased their price objective on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Stifel Nicolaus reduced their target price on Credo Technology Group from $85.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays raised their price target on Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $73.50.

Hedge Funds Weigh In On Credo Technology Group

Large investors have recently bought and sold shares of the business. Stifel Financial Corp raised its position in shares of Credo Technology Group by 436.3% during the 3rd quarter. Stifel Financial Corp now owns 127,573 shares of the company’s stock valued at $3,929,000 after acquiring an additional 103,785 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in Credo Technology Group by 40.6% in the third quarter. Orion Portfolio Solutions LLC now owns 10,190 shares of the company’s stock valued at $314,000 after purchasing an additional 2,945 shares during the last quarter. Geode Capital Management LLC lifted its stake in Credo Technology Group by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,176,796 shares of the company’s stock valued at $97,865,000 after buying an additional 170,412 shares during the period. Franklin Resources Inc. boosted its holdings in Credo Technology Group by 17.9% during the third quarter. Franklin Resources Inc. now owns 73,037 shares of the company’s stock worth $2,250,000 after buying an additional 11,065 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Credo Technology Group by 22.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company’s stock worth $61,415,000 after buying an additional 368,518 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.