Pantas Sutardja Sells 21,041 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Pantas Sutardja sold 21,041 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $68.19, for a total value of $1,434,785.79. Following the completion of the transaction, the director now directly owns 5,904,277 shares in the company, valued at $402,612,648.63. This trade represents a 0.36 % 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 hyperlink.

Credo Technology Group Stock Performance

CRDO opened at $69.29 on Friday. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $78.97. The company has a 50-day moving average of $53.46 and a 200-day moving average of $38.56. The company has a market capitalization of $11.59 billion, a P/E ratio of -461.93 and a beta of 2.26.

Institutional Trading of Credo Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of CRDO. Allworth Financial LP increased its holdings in shares of Credo Technology Group by 917.9% in the 3rd quarter. Allworth Financial LP now owns 855 shares of the company’s stock valued at $26,000 after acquiring an additional 771 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Credo Technology Group during the second quarter valued at $29,000. Rakuten Securities Inc. acquired a new stake in shares of Credo Technology Group during the third quarter worth $30,000. Brown Brothers Harriman & Co. lifted its position in shares of Credo Technology Group by 695.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock worth $35,000 after buying an additional 1,001 shares during the last quarter. Finally, Cranbrook Wealth Management LLC acquired a new position in shares of Credo Technology Group in the 2nd quarter valued at about $51,000. 80.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group raised their target price on Credo Technology Group from $31.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their price objective on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Roth Mkm boosted their target price on shares of Credo Technology Group from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen raised their price target on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Craig Hallum boosted their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and an average price target of $68.60.

About Credo Technology Group

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.