Credo Technology Group (NASDAQ:CRDO) Reaches New 12-Month High After Analyst Upgrade – Information Important Online

Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report)’s hit toll reached a newborn 52-week broad on weekday after TD Cowen upraised their toll direct on the hit from $35.00 to $40.00. TD Cowen currently has a acquire judgement on the stock. Credo Technology Group traded as broad as $33.05 and terminal traded at $33.05, with a intensity of 1045448 shares. The hit had previously winking at $30.87.

Several another analysts hit also issued reports on the company. Barclays accumulated their direct toll on Credo Technology Group from $23.00 to $30.00 and gave the hit an “overweight” judgement in a inform on Thursday, May 30th. Bank of USA restated an “underperform” judgement and ordered a $22.00 direct toll (up from $21.00) on shares of Credo Technology Group in a investigate state on Thursday, May 30th. Needham & Company LLC upraised their toll direct on Credo Technology Group from $26.00 to $29.00 and gave the consort a “buy” judgement in a investigate state on Thursday, May 30th. Finally, Craig Hallum boosted their toll direct on Credo Technology Group from $28.00 to $30.00 and gave the hit a “buy” judgement in a inform on Monday, Apr 15th. One assets shrink has rated the hit with a delude judgement and heptad hit issued a acquire judgement to the stock. According to accumulation from MarketBeat.com, the hit has an cipher judgement of “Moderate Buy” and an cipher direct toll of $28.88.

Read Our Latest Research Report on CRDO

Insiders Place Their Bets

In another news, CTO Chi Fung Cheng oversubscribed 55,000 shares of the hit in a dealings on Thursday, July 11th. The hit was oversubscribed at an cipher toll of $30.63, for a amount continuance of $1,684,650.00. Following the termination of the transaction, the honcho profession tar today direct owns 9,388,602 shares in the company, valued at roughly $287,572,879.26. The understanding was unconcealed in a filing with the Securities & Exchange Commission, which crapper be accessed finished this hyperlink. In another Credo Technology Group news, Director Lip Bu Tan oversubscribed 245,438 shares of the business’s hit in a dealings that occurred on Monday, July 15th. The shares were oversubscribed at an cipher toll of $32.67, for a amount dealings of $8,018,459.46. Following the sale, the administrator today direct owns 2,863,725 shares of the company’s stock, valued at roughly $93,557,895.75. The dealings was unconcealed in a jural filing with the Securities & Exchange Commission, which is acquirable at this hyperlink. Also, CTO Chi Fung Cheng oversubscribed 55,000 shares of the company’s hit in a dealings that occurred on Thursday, July 11th. The shares were oversubscribed at an cipher toll of $30.63, for a amount dealings of $1,684,650.00. Following the termination of the transaction, the honcho profession tar today owns 9,388,602 shares of the company’s stock, valued at $287,572,879.26. The revealing for this understanding crapper be institute here. Over the terminal quarter, insiders hit oversubscribed 951,678 shares of consort hit valued at $25,730,794. 23.89% of the hit is currently owned by insiders.

Hedge Funds Weigh In On Credo Technology Group

A sort of inclose assets hit fresh restricted their holdings of the business. Ulland Investment Advisors LLC bought a newborn function in Credo Technology Group during the 1st lodge worth $29,000. Covestor Ltd accumulated its wager in shares of Credo Technology Group by 19,240.0% in the prototypal quarter. Covestor Ltd today owns 1,934 shares of the company’s hit valued at $41,000 after purchase an added 1,924 shares during the period. CWM LLC upraised its function in shares of Credo Technology Group by 78.1% during the ordinal quarter. CWM LLC today owns 1,355 shares of the company’s hit worth $43,000 after feat an added 594 shares during the terminal quarter. Advisors Asset Management Inc. upraised its wager in shares of Credo Technology Group by 47.6% in the prototypal quarter. Advisors Asset Management Inc. today owns 3,811 shares of the company’s hit worth $81,000 after feat an added 1,229 shares during the period. Finally, Banque Cantonale Vaudoise bought a newborn wager in Credo Technology Group in the prototypal lodge valued at roughly $97,000. Institutional investors and inclose assets possess 80.46% of the company’s stock.

Credo Technology Group Trading Up 7.2 %

The business’s 50-day ultimate agitated cipher is $25.68 and its two-hundred period ultimate agitated cipher is $22.30. The concern has a mart container of $5.47 billion, a price-to-earnings ratio of -183.83 and a beta of 2.24.

Credo Technology Group (NASDAQ:CRDO – Get Free Report) terminal issued its quarterly earnings results on Wednesday, May 29th. The consort reportable ($0.02) earnings per deal for the quarter, absent analysts’ consensus estimates of $0.02 by ($0.04). Credo Technology Group had a perverse convey on justness of 4.51% and a perverse gain edge of 14.70%. The playing had income of $60.78 meg for the quarter, compared to shrink estimates of $60.50 million. On average, analysts prognosticate that Credo Technology Group Holding Ltd module place 0.07 earnings per deal for the underway business year.

About Credo Technology Group

(Get Free Report)

Credo Technology Group Holding Ltd provides different high-speed connectivCredo Technology Group Holding Ltd provides different high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Mainland China, Hong Kong, and internationally. Its products allow HiWire astir electrical cables, optical digital communication processors, low-power distinction bill PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP.

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