Shares of Credo Technology Group Holding Ltd (NASDAQ: CRDO – Rated ) have received a consensus “buy” recommendation from eight analysts currently covering the company, according to MarketBeat. Six investment analysts have Buy ratings on the stock. Brokers who have reported on the stock in the last year have an average 1-year price target of $19.38.
Separately, Needham & Company LLC upped their price target on shares of Credo Technology Group from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 1st.
Credo Technology Group Share Performance
NASDAQ: CRDO opened at $12.96 on Monday. The company has a market capitalization of $1.9 billion and a P/E ratio of -216.00. Credo Technology Group had a fifty-two-week low of $8.61 and a fifty-two-week high of $18.00. The company’s 50-day moving average is $13.79 and its 200-day moving average is $13.13.
insider activity
In other news, CTO Chi Fung Cheng sold 40,000 shares of the company during trading on Monday, November 7. The stock sold at an average price of $13.49 for a total transaction value of $539,600.00. Following the sale, the CTO now directly owns 12,543,602 shares of the company worth $169,213,190.98. The sale was disclosed in a filing with the U.S. Securities and Exchange Commission, which is available at this link. In other news, CTO Chi Fung Cheng sold 40,000 shares of the company during trading on Monday, November 7. The stock sold at an average price of $13.49 for a total transaction value of $539,600.00. Following the sale, the CTO now directly owns 12,543,602 shares of the company worth $169,213,190.98. The sale was disclosed in a filing with the U.S. Securities and Exchange Commission, which is available at this link. Also, Chief Operating Officer Yat Tung Lam sold 5,000 shares of the company in trading on Thursday, December 8. These shares sold at an average price of $15.02 for a total value of $75,100.00. Following the sale, the COO now owns 3,330,119 shares of the company, worth $50,018,387.38. The disclosure for this sale can be found here. In the past 90 days, insiders have sold a total of 1,254,079 shares of company stock worth $16,179,123. Company insiders own 34.20% of the company.
Institutional inflows and outflows
Some institutional investors have recently revised their CRDO holdings. Envestnet Asset Management bought a new position in Credo Technology Group stock worth about $332,000 in the first quarter. JPMorgan Chase & Co. bought a new position in Credo Technology Group stock in the first quarter, worth about $205,000. Bank of New York Mellon Corp purchased a new position in Credo Technology Group stock worth approximately $1,748,000 during the first quarter. BlackRock bought a new position in Credo Technology Group stock worth approximately $48,844,000 in the first quarter. Finally, Symmetry Investments LP bought a new position in Credo Technology Group stock worth approximately $609,000 during the first quarter. 40.46% of the shares are currently held by institutional investors.
Credo Technology Group Company Profile
(get rating)
Credo Technology Group Holding Ltd provides a wide range of high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, China, Hong Kong and internationally. Its products include integrated circuits, active cables and SerDes chiplets based on its serializer/deserializer and digital signal processor technologies.
read more
This breaking news alert is powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate coverage. This story was reviewed by MarketBeat’s editorial team before publication. Please send any questions or comments about this story to contact@marketbeat.com.
You’ll want to hear this before considering Credo Technology Group.
MarketBeat tracks Wall Street’s highest-rated and top-performing research analysts and the stocks they recommend to clients on a daily basis. MarketBeat has identified five stocks top analysts are quietly whispering to their clients to buy now before the broader market hits… and Credo Technology Group isn’t on the list.
While Credo Technology Group currently has a “buy” rating among analysts, the top-rated analysts see these five stocks as better buys.
Check out five stocks here
