Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Pantas Sutardja Sells 1,875 Shares

Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Pantas Sutardja sold 1,875 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the transaction, the director now directly owns 5,902,402 shares of the company’s stock, valued at approximately $395,224,837.92. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Pantas Sutardja also recently made the following trade(s):

• On Friday, December 20th, Pantas Sutardja sold 21,041 shares of Credo Technology Group stock. The stock was sold at an average price of $68.19, for a total value of $1,434,785.79.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $76.25 on Wednesday. The business has a fifty day simple moving average of $69.54 and a two-hundred day simple moving average of $46.62. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of -508.33 and a beta of 2.09.

Analyst Ratings Changes

A number of research firms have weighed in on CRDO. Craig Hallum upped their price target on Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus increased their price objective on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group increased 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. Roth Mkm increased their price objective on Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America raised Credo Technology Group from an “underperform” rating to a “buy” rating and increased their price objective for the company from $27.00 to $80.00 in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Moderate Buy” and an average price target of $76.40.

Institutional Investors Weigh In On Credo Technology Group

Hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in Credo Technology Group during the 3rd quarter valued at $3,948,000. Wellington Management Group LLP increased its position in Credo Technology Group by 32.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock worth $88,188,000 after buying an additional 705,512 shares during the period. Centiva Capital LP bought a new position in Credo Technology Group during the 3rd quarter worth $553,000. Charles Schwab Investment Management Inc. increased its position in Credo Technology Group by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company’s stock worth $35,006,000 after buying an additional 95,335 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Credo Technology Group by 94.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company’s stock worth $7,507,000 after buying an additional 118,169 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Company Profile

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.