Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) insider James Laufman sold 5,000 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $85.07, for a total value of $425,350.00. Following the completion of the transaction, the insider now owns 249,346 shares in the company, valued at $21,211,864.22. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
James Laufman also recently made the following trade(s):
- On Monday, April 14th, James Laufman sold 8,000 shares of Credo Technology Group stock. The shares were sold at an average price of $39.09, for a total value of $312,720.00.
Credo Technology Group Stock Down 0.1%
Shares of NASDAQ:CRDO traded down $0.08 during trading on Friday, reaching $85.51. 5,524,012 shares of the company's stock traded hands, compared to its average volume of 4,010,164. Credo Technology Group Holding Ltd. has a fifty-two week low of $22.50 and a fifty-two week high of $87.58. The company has a 50-day simple moving average of $58.05 and a 200-day simple moving average of $60.33. The firm has a market cap of $14.52 billion, a PE ratio of 317.00 and a beta of 2.42.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Credo Technology Group had a return on equity of 9.15% and a net margin of 11.95%. The company had revenue of $170.00 million during the quarter, compared to analyst estimates of $159.59 million. During the same period in the previous year, the business earned $0.07 EPS. Credo Technology Group's quarterly revenue was up 179.6% on a year-over-year basis. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.
Institutional Investors Weigh In On Credo Technology Group
Several large investors have recently bought and sold shares of CRDO. Operose Advisors LLC increased its stake in Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company's stock worth $25,000 after buying an additional 252 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Credo Technology Group during the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credo Technology Group during the 1st quarter worth approximately $27,000. Harbour Investments Inc. purchased a new stake in Credo Technology Group during the 1st quarter worth approximately $29,000. Finally, Virtus Advisers LLC purchased a new stake in Credo Technology Group during the 1st quarter worth approximately $31,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on CRDO shares. Needham & Company LLC raised their price objective on Credo Technology Group from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Roth Capital set a $95.00 price objective on Credo Technology Group and gave the stock a "buy" rating in a research report on Friday, June 13th. Mizuho reduced their target price on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Susquehanna restated a "positive" rating and issued a $90.00 target price (up previously from $60.00) on shares of Credo Technology Group in a research note on Tuesday, June 3rd. Finally, Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research note on Tuesday, June 3rd. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $81.00.
View Our Latest Stock Report on CRDO
About Credo Technology Group
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Credo Technology Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credo Technology Group wasn't on the list.
While Credo Technology Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
