Credo Technology Group CEO Sells 15,000 Shares – Insider Trading Update
Credo Technology Group Holding Ltd (NASDAQ:CRDO) has been making headlines recently as CEO William Joseph Brennan sold 15,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.87, totaling $283,050. Following the sale, Brennan now holds 2,932,500 shares of the company’s stock, valued at approximately $55,336,275.
This sale is just one of several recent trades made by Brennan, indicating a pattern of selling off shares. The stock has been trading up 1.1% and currently has a market capitalization of $3.12 billion. Analysts predict that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current year.
Institutional investors have also been active in trading Credo Technology Group stock, with several hedge funds and other institutions either adding to or reducing their stakes in the company. Vanguard Group Inc., Jennison Associates LLC, Wellington Management Group LLP, and Assenagon Asset Management S.A. are among the investors who have recently acquired shares of CRDO.
Wall Street analysts have weighed in on CRDO, with many increasing their price targets and giving the stock a “buy” rating. The average target price for Credo Technology Group is $24.25, according to data from MarketBeat.com.
Credo Technology Group Holding Ltd provides high-speed connectivity solutions for optical and electrical Ethernet applications. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP.
Overall, Credo Technology Group has been making waves in the market with CEO Brennan’s recent stock sales, institutional inflows and outflows, and positive analyst ratings. Investors and analysts alike will be keeping a close eye on this company as it continues to navigate the ever-changing market landscape.
