Credo Technology Group Holding Ltd (NASDAQ:CRDO) CTO Sells $522,400.00 in Stock
Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Rating) CTO Chi Fung Cheng sold 40,000 shares of the business's stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $13.06, for a total value of $522,400.00. Following the sale, the chief technology officer now owns 11,423,602 shares in the company, valued at approximately $149,192,242.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Chi Fung Cheng also recently made the following trade(s):
- On Thursday, December 8th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $15.04, for a total transaction of $601,600.00.
- On Monday, November 28th, Chi Fung Cheng sold 27,216 shares of Credo Technology Group stock. The shares were sold at an average price of $14.06, for a total transaction of $382,656.96.
- On Monday, November 14th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The stock was sold at an average price of $14.61, for a total transaction of $584,400.00.
- On Monday, November 7th, Chi Fung Cheng sold 40,000 shares of Credo Technology Group stock. The shares were sold at an average price of $13.49, for a total value of $539,600.00.
Credo Technology Group Trading Down 2.6 %
NASDAQ CRDO traded down $0.34 on Tuesday, reaching $12.62. 3,048,244 shares of the company's stock traded hands, compared to its average volume of 1,016,585. Credo Technology Group Holding Ltd has a fifty-two week low of $8.61 and a fifty-two week high of $18.00. The stock has a 50 day moving average price of $13.83 and a 200-day moving average price of $13.13.
Wall Street Analysts Forecast Growth
Separately, Needham & Company LLC boosted their price target on Credo Technology Group from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, December 1st. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Credo Technology Group has a consensus rating of "Buy" and an average price target of $19.38.
Hedge Funds Weigh In On Credo Technology Group
A number of institutional investors have recently modified their holdings of CRDO. Royal Bank of Canada purchased a new stake in shares of Credo Technology Group in the first quarter worth about $26,000. Ameritas Investment Partners Inc. acquired a new position in Credo Technology Group in the first quarter valued at approximately $26,000. IFP Advisors Inc purchased a new stake in Credo Technology Group in the 3rd quarter worth approximately $27,000. UBS Group AG acquired a new stake in shares of Credo Technology Group during the 1st quarter worth approximately $69,000. Finally, Northern Trust Corp increased its holdings in shares of Credo Technology Group by 0.7% during the 2nd quarter. Northern Trust Corp now owns 628,440 shares of the company's stock valued at $7,340,000 after purchasing an additional 4,582 shares in the last quarter. Hedge funds and other institutional investors own 40.46% of the company's stock.
About Credo Technology Group
Credo 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 integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.
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