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

Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) Director Pantas Sutardja sold 1,875 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $46.01, for a total transaction of $86,268.75. Following the completion of the sale, the director now owns 5,900,527 shares in the company, valued at $271,483,247.27. This represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Credo Technology Group Trading Up 4.9 %

NASDAQ:CRDO traded up $2.37 during midday trading on Thursday, hitting $50.80. 1,912,870 shares of the company traded hands, compared to its average volume of 3,593,548. Credo Technology Group Holding Ltd has a 12-month low of $16.98 and a 12-month high of $86.69. The firm's fifty day moving average is $42.82 and its 200-day moving average is $55.25. The firm has a market capitalization of $8.63 billion, a P/E ratio of -339.30 and a beta of 2.29.

Institutional Trading of Credo Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new position in Credo Technology Group during the 4th quarter valued at about $700,000. Pacer Advisors Inc. increased its holdings in shares of Credo Technology Group by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 3,906 shares of the company's stock valued at $263,000 after acquiring an additional 907 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Credo Technology Group by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company's stock valued at $79,289,000 after purchasing an additional 43,169 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Credo Technology Group by 22.7% in the third quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company's stock worth $61,415,000 after purchasing an additional 368,518 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Credo Technology Group by 3.4% during the 4th quarter. Vontobel Holding Ltd. now owns 19,584 shares of the company's stock worth $1,316,000 after acquiring an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRDO shares. Mizuho dropped their price objective 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. Stifel Nicolaus cut their target price on Credo Technology Group from $85.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays decreased their price target on shares of Credo Technology Group from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group upped their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $80.00 price objective on shares of Credo Technology Group in a report on Wednesday, March 5th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Credo Technology Group has a consensus rating of "Buy" and an average target price of $71.50.

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.