Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) insider James Laufman sold 20,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.36, for a total value of $627,200.00. Following the completion of the transaction, the insider now owns 302,466 shares in the company, valued at approximately $9,485,333.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Credo Technology Group Stock Down 1.9 %
Shares of NASDAQ CRDO traded down $0.60 during midday trading on Tuesday, hitting $30.20. The stock had a trading volume of 969,927 shares, compared to its average volume of 2,225,047. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of -171.11 and a beta of 2.26. Credo Technology Group Holding Ltd has a 1-year low of $13.38 and a 1-year high of $36.80. The company has a fifty day moving average price of $29.50 and a 200 day moving average price of $25.68.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last issued its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $59.71 million during the quarter, compared to analyst estimates of $59.50 million. Credo Technology Group had a negative return on equity of 3.74% and a negative net margin of 12.05%. On average, research analysts forecast that Credo Technology Group Holding Ltd will post -0.02 EPS for the current year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on CRDO shares. Stifel Nicolaus increased their price target on Credo Technology Group from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Craig Hallum lifted their price target on shares of Credo Technology Group from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Roth Mkm boosted their target price on Credo Technology Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Barclays increased their price target on shares of Credo Technology Group from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, Bank of America upped their price objective on Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.00.
Check Out Our Latest Research Report on CRDO
About Credo Technology Group
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.
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