Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan Sells 15,000 Shares

Credo Technology Group Holding Ltd (NASDAQ:CRDO) CEO William Joseph Brennan sold 15,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $17.15, for a total transaction of $257,250.00. Following the completion of the sale, the chief executive officer now owns 2,962,500 shares in the company, valued at $50,806,875. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

William Joseph Brennan also recently made the following trade(s):

• On Wednesday, April 17th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $19.16, for a total transaction of $287,400.00.
• On Thursday, April 4th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $22.31, for a total transaction of $334,650.00.
• On Wednesday, March 27th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.58, for a total transaction of $323,700.00.
• On Wednesday, March 13th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $20.55, for a total transaction of $308,250.00.
• On Thursday, February 15th, William Joseph Brennan sold 15,000 shares of Credo Technology Group stock. The shares were sold at an average price of $22.39, for a total transaction of $335,850.00.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO traded down $0.12 during trading on Friday, hitting $17.18. 2,143,560 shares of the stock traded hands, compared to its average volume of 2,112,756. The company has a fifty day moving average price of $20.47 and a two-hundred day moving average price of $19.28. Credo Technology Group Holding Ltd has a 52-week low of $7.20 and a 52-week high of $23.90.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Credo Technology Group had a negative net margin of 20.59% and a negative return on equity of 7.82%. The firm had revenue of $53.06 million during the quarter, compared to analyst estimates of $51.91 million. During the same period in the previous year, the firm earned $0.02 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts forecast that Credo Technology Group Holding Ltd will post -0.12 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRDO shares. Needham & Company LLC raised their price target on shares of Credo Technology Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. TD Cowen raised their price target on shares of Credo Technology Group from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group raised their price target on shares of Credo Technology Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Mizuho reissued a “buy” rating and set a $30.00 price target (up from $28.00) on shares of Credo Technology Group in a research report on Wednesday, February 28th. Finally, Craig Hallum raised their price target on shares of Credo Technology Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group has an average rating of “Moderate Buy” and a consensus price target of $24.25.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Credo Technology Group during the 1st quarter valued at about $547,000. Jennison Associates LLC boosted its position in shares of Credo Technology Group by 1.9% during the 1st quarter. Jennison Associates LLC now owns 2,375,255 shares of the company’s stock valued at $50,332,000 after acquiring an additional 45,396 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Credo Technology Group during the 1st quarter valued at about $2,732,000. Principal Financial Group Inc. boosted its position in shares of Credo Technology Group by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,631,832 shares of the company’s stock valued at $34,579,000 after acquiring an additional 53,432 shares during the last quarter. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Credo Technology Group during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivCredo 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 HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP.