Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) General Counsel Adam Thorngate-Gottlund sold 8,115 shares of the company in a trade dated Friday, September 9. The stock was sold at an average price of $12.59, for a total value of $102,167.85. Following the sale, the General Counsel now directly owns 264,730 shares of the company, valued at $3,332,950.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Adam Thorngate-Gottlund also recently made the following trade(s):
- On Wednesday, September 7, Adam Thorngate-Gottlund sold 5,945 shares of Credo Technology Group. The stock was sold at an average price of $12.95, for a total value of $76,987.75.
- On Tuesday, August 23, Adam Thorngate-Gottlund sold 1,560 shares of Credo Technology Group. The stock was sold at an average price of $14.80, for a total value of $23,088.00.
Performance of the shares of the technology group Credo
Shares of Credo Technology Group traded down $0.12 on Friday, hitting $12.64. 1,929,612 shares of the company were traded, with an average volume of 819,896. Credo Technology Group Holding Ltd has a 1-year low of $8.61 and a 1-year high of $18.00. The stock’s 50-day moving average price is $13.52 and its 200-day moving average price is $12.95.
Credo Technology Group (NASDAQ:CRDO – Get Rating) last reported quarterly earnings data on Wednesday, August 31. The company reported EPS of $0.03 for the quarter, meeting analyst consensus estimates of $0.03. The company posted revenue of $46.47 million for the quarter, versus analyst estimates of $45.70 million. Credo Technology Group’s revenue increased by 333.3% compared to the same quarter last year. On average, equity research analysts expect Credo Technology Group Holding Ltd to post an EPS of 0.16 for the current financial year.
Wall Street analysts predict growth
A number of brokerages have recently released reports on CRDO. Needham & Company LLC reduced its price target on Credo Technology Group from $20.00 to $15.00 and set a “buy” rating for the company in a Thursday, June 2 research report. Goldman Sachs Group lowered its price target on Credo Technology Group from $21.00 to $19.00 in a Friday, July 15 research report. Finally, Bank of America lowered its price target on Credo Technology Group from $17.00 to $15.00 and set a “buy” rating for the company in a Wednesday, June 29 research report. Eight investment analysts have rated the stock with a buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $19.00.
Hedge funds weigh on Credo Technology Group
Institutional investors and hedge funds have recently changed their positions in the stock. Capital Research Global Investors acquired a new stake in Credo Technology Group during the first quarter worth approximately $125,306,000. Mass Ave Global Inc. acquired a new stake in Credo Technology Group during the first quarter valued at approximately $65,983,000. BlackRock Inc. acquired a new stake in Credo Technology Group during the first quarter for a value of approximately $48,844,000. Vanguard Group Inc. purchased a new stake in Credo Technology Group during the first quarter valued at approximately $29,191,000. Finally, Point72 Asset Management LP increased its stake in Credo Technology Group by 169.0% during the second quarter. Point72 Asset Management LP now owns 1,801,968 shares of the company worth $21,047,000 after purchasing an additional 1,131,968 shares in the last quarter. 22.64% of the shares are held by institutional investors and hedge funds.
Credo Technology Group Company Profile
(Get a rating)
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 power cables and SerDes chips based on its serializer/deserializer and digital signal processor technologies.
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