Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Lip Bu Tan recently sold a significant number of shares of Credo Technology Group stock, totaling over $3.9 million. This sale was disclosed in a document filed with the SEC. Tan also made two other sales of Credo Technology Group shares earlier in June.
Despite these sales, Credo Technology Group&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPW9GNWRocm9acUZ3QXBic0NhZGZFZUZsZ2lIbmlrTUZSWWJtSjFkMDh2Wm01VmRXaGFLMGxGUms5bWR6MDk-8217;s stock price has been trading up, reaching $18.03 per share during midday trading on Friday. The company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPW9GNWRocm9acUZ3QXBic0NhZGZFZUZsZ2lIbmlrTUZSWWJtSjFkMDh2Wm01VmRXaGFLMGxGUms5bWR6MDk-8217;s stock has a 1-year high of $19.46 and a 1-year low of $7.20.
Credo Technology Group reported its quarterly earnings results on May 31st, with earnings per share meeting the consensus estimate of ($0.04). The company had revenue of $32.09 million for the quarter, slightly surpassing analyst estimates. Credo Technology Group had a negative return on equity and a negative net margin for the quarter.
Several analysts have recently published reports on Credo Technology Group, with many of them providing positive ratings and target price increases for the stock. For example, Stifel Nicolaus raised its target price on Credo Technology Group shares from $14.00 to $17.00. Overall, analysts have given the stock an average rating of &https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPW9GNWRocm9acUZ3QXBic0NhZGZFZUZsZ2lIbmlrTUZSWWJtSjFkMDh2Wm01VmRXaGFLMGxGUms5bWR6MDk-8220;Moderate Buy&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPW9GNWRocm9acUZ3QXBic0NhZGZFZUZsZ2lIbmlrTUZSWWJtSjFkMDh2Wm01VmRXaGFLMGxGUms5bWR6MDk-8221; and a consensus price target of $14.11.
In terms of institutional investors, Harvest Fund Management Co. Ltd and Royal Bank of Canada have both purchased new stakes in Credo Technology Group. Other institutional investors have also increased their holdings in the company.
Credo Technology Group Holding Ltd offers a range of high-speed connectivity solutions for optical and electrical Ethernet applications. The company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPW9GNWRocm9acUZ3QXBic0NhZGZFZUZsZ2lIbmlrTUZSWWJtSjFkMDh2Wm01VmRXaGFLMGxGUms5bWR6MDk-8217;s products include integrated circuits, active electrical cables, and SerDes chiplets.
In conclusion, while director Lip Bu Tan has sold a significant number of Credo Technology Group shares, the company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPW9GNWRocm9acUZ3QXBic0NhZGZFZUZsZ2lIbmlrTUZSWWJtSjFkMDh2Wm01VmRXaGFLMGxGUms5bWR6MDk-8217;s stock has been performing well, trading up during midday trading. Analysts have mostly given positive ratings to the stock, and institutional investors have also shown interest in the company. Credo Technology Group provides high-speed connectivity solutions for various Ethernet applications, contributing to its market success.
