Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Sells $125,550.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Pantas Sutardja sold 1,875 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $66.96, for a total transaction of $125,550.00. Following the completion of the sale, the director now owns 5,902,402 shares of the company’s stock, valued at approximately $395,224,837.92. This represents a 0.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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 shares were sold at an average price of $68.19, for a total transaction of $1,434,785.79.

Credo Technology Group Stock Up 6.2 %

Shares of NASDAQ:CRDO traded up $4.44 during trading on Tuesday, hitting $76.25. The stock had a trading volume of 4,988,705 shares, compared to its average volume of 5,697,168. Credo Technology Group Holding Ltd has a 12-month low of $16.82 and a 12-month high of $86.69. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of -508.33 and a beta of 2.09. The stock has a 50-day simple moving average of $68.45 and a two-hundred day simple moving average of $46.00.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRDO. Bank of America raised Credo Technology Group from an “underperform” rating to a “buy” rating and increased their target price for the company from $27.00 to $80.00 in a research report on Tuesday, December 3rd. Roth Mkm raised their price objective on Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Craig Hallum boosted their target price on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. TD Cowen raised their price target on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus lifted their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.40.

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP raised its holdings in shares of Credo Technology Group by 917.9% during the third quarter. Allworth Financial LP now owns 855 shares of the company’s stock worth $26,000 after purchasing an additional 771 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Credo Technology Group during the 3rd quarter worth about $30,000. Brown Brothers Harriman & Co. raised its stake in shares of Credo Technology Group by 695.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock valued at $35,000 after buying an additional 1,001 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Credo Technology Group in the 4th quarter valued at about $38,000. Finally, WASHINGTON TRUST Co purchased a new stake in shares of Credo Technology Group in the fourth quarter worth about $43,000. 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.