Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Pantas Sutardja Sells 1,875 Shares

Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Pantas Sutardja sold 1,875 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the transaction, the director now owns 5,902,402 shares in the company, valued at $395,224,837.92. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Pantas Sutardja also recently made the following trade(s):

• On Friday, December 20th, Pantas Sutardja sold 21,041 shares of Credo Technology Group stock. The stock was sold at an average price of $68.19, for a total value of $1,434,785.79.

Credo Technology Group Stock Up 6.2 %

NASDAQ:CRDO opened at $76.25 on Wednesday. The stock’s 50-day simple moving average is $69.54 and its 200 day simple moving average is $46.62. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69. The firm has a market capitalization of $12.75 billion, a PE ratio of -508.33 and a beta of 2.09.

Institutional Trading of Credo Technology Group

A number of hedge funds have recently made changes to their positions in CRDO. Allworth Financial LP boosted its stake in shares of Credo Technology Group by 917.9% during the third quarter. Allworth Financial LP now owns 855 shares of the company’s stock valued at $26,000 after purchasing an additional 771 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Credo Technology Group during the third quarter valued at about $30,000. Brown Brothers Harriman & Co. boosted its stake in shares of Credo Technology Group by 695.1% during the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock valued at $35,000 after purchasing an additional 1,001 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter valued at about $38,000. Finally, WASHINGTON TRUST Co acquired a new stake in shares of Credo Technology Group during the fourth quarter valued at about $43,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRDO has been the topic of a number of recent analyst reports. Susquehanna initiated coverage on Credo Technology Group in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 price target on the stock. TD Cowen raised their price target on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Barclays raised their price target on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Craig Hallum raised their price target on Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.40.

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.