Lip Bu Tan Sells 25,395 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock
Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Rating) Director Lip Bu Tan sold 25,395 shares of the business's stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $13.53, for a total value of $343,594.35. Following the transaction, the director now owns 4,224,673 shares in the company, valued at approximately $57,159,825.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Lip Bu Tan also recently made the following trade(s):
- On Tuesday, January 10th, Lip Bu Tan sold 48,935 shares of Credo Technology Group stock. The stock was sold at an average price of $13.32, for a total value of $651,814.20.
- On Wednesday, December 14th, Lip Bu Tan sold 37,274 shares of Credo Technology Group stock. The stock was sold at an average price of $15.05, for a total value of $560,973.70.
- On Monday, December 12th, Lip Bu Tan sold 600 shares of Credo Technology Group stock. The stock was sold at an average price of $15.01, for a total value of $9,006.00.
- On Friday, December 9th, Lip Bu Tan sold 19,129 shares of Credo Technology Group stock. The shares were sold at an average price of $15.01, for a total value of $287,126.29.
- On Wednesday, December 7th, Lip Bu Tan sold 70,501 shares of Credo Technology Group stock. The shares were sold at an average price of $15.05, for a total value of $1,061,040.05.
- On Monday, December 5th, Lip Bu Tan sold 107,692 shares of Credo Technology Group stock. The shares were sold at an average price of $15.02, for a total value of $1,617,533.84.
Credo Technology Group Price Performance
Shares of NASDAQ:CRDO traded up $0.53 on Thursday, reaching $13.94. 898,397 shares of the company traded hands, compared to its average volume of 702,625. Credo Technology Group Holding Ltd has a fifty-two week low of $8.61 and a fifty-two week high of $18.00. The company's 50 day moving average is $13.91 and its 200-day moving average is $13.17. The stock has a market capitalization of $2.05 billion and a PE ratio of -232.33.
Credo Technology Group (NASDAQ:CRDO - Get Rating) last released its earnings results on Wednesday, November 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). Credo Technology Group had a negative net margin of 5.34% and a positive return on equity of 2.61%. The business had revenue of $51.37 million during the quarter, compared to analysts' expectations of $50.50 million. As a group, analysts expect that Credo Technology Group Holding Ltd will post 0.03 EPS for the current year.
Hedge Funds Weigh In On Credo Technology Group
Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Credo Technology Group by 255.4% during the third quarter. BlackRock Inc. now owns 12,750,435 shares of the company's stock worth $140,255,000 after buying an additional 9,162,371 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Credo Technology Group in the first quarter valued at about $125,306,000. Vanguard Group Inc. grew its position in shares of Credo Technology Group by 263.1% in the third quarter. Vanguard Group Inc. now owns 6,940,826 shares of the company's stock valued at $76,349,000 after purchasing an additional 5,029,051 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Credo Technology Group by 120.6% in the third quarter. Point72 Asset Management L.P. now owns 3,974,443 shares of the company's stock valued at $43,719,000 after purchasing an additional 2,172,475 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Credo Technology Group by 712.7% in the third quarter. State Street Corp now owns 2,955,370 shares of the company's stock valued at $32,509,000 after buying an additional 2,591,741 shares during the period. 40.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Needham & Company LLC upped their target price on Credo Technology Group from $15.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, December 1st. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.38.
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.
Further Reading
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