Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) rose 1% during mid-day trading on Friday . The stock traded as high as $43.65 and last traded at $42.80. Approximately 740,466 shares traded hands during trading, a decline of 79% from the average daily volume of 3,540,599 shares. The stock had previously closed at $42.39.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Stifel Nicolaus lowered their price objective on Credo Technology Group from $85.00 to $69.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Susquehanna raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Bank of America decreased their price target on shares of Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $80.00 price objective on shares of Credo Technology Group in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $71.50.
Read Our Latest Report on CRDO
Credo Technology Group Trading Up 0.4 %
The firm has a 50-day moving average of $44.80 and a two-hundred day moving average of $55.05. The firm has a market capitalization of $7.34 billion, a P/E ratio of -288.07 and a beta of 2.30.
Insider Activity at Credo Technology Group
In other Credo Technology Group news, CFO Daniel W. Fleming sold 3,790 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $40.75, for a total value of $154,442.50. Following the completion of the transaction, the chief financial officer now directly owns 608,602 shares in the company, valued at approximately $24,800,531.50. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $47.29, for a total value of $2,600,950.00. Following the sale, the chief technology officer now owns 8,103,602 shares in the company, valued at approximately $383,219,338.58. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 563,665 shares of company stock valued at $26,810,463. 16.04% of the stock is owned by insiders.
Hedge Funds Weigh In On Credo Technology Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Credo Technology Group in the first quarter worth $27,000. Kestra Investment Management LLC bought a new stake in shares of Credo Technology Group in the 4th quarter valued at about $38,000. WASHINGTON TRUST Co acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at about $43,000. Principal Securities Inc. raised its position in shares of Credo Technology Group by 626.1% during the fourth quarter. Principal Securities Inc. now owns 668 shares of the company's stock worth $45,000 after acquiring an additional 576 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Credo Technology Group during the fourth quarter worth about $58,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.
Credo Technology Group Company Profile
(
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.
Recommended Stories
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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
