James Laufman Sells 8,000 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) insider James Laufman sold 8,000 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $39.09, for a total value of $312,720.00. Following the transaction, the insider now owns 271,725 shares in the company, valued at approximately $10,621,730.25. This represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.Get Credo Technology Group alerts:Credo Technology Group Price PerformanceCredo Technology Stock is Rebounding Credo Technology Group stock traded down $1.46 during mid-day trading on Wednesday, reaching $37.72. The stock had a trading volume of 2,785,634 shares, compared to its average volume of 3,495,448. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -251.47 and a beta of 2.30. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $86.69. The company has a 50-day moving average price of $50.92 and a two-hundred day moving average price of $54.53. Wall Street Analyst Weigh InCRDO has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $80.00 target price on shares of Credo Technology Group in a research note on Wednesday, March 5th. Barclays boosted their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Bank of America reduced their price target on shares of Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Susquehanna upgraded shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, Mizuho reduced their target price on Credo Technology Group from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Credo Technology Group presently has a consensus rating of "Buy" and an average price target of $74.60.Check Out Our Latest Stock Analysis on Credo Technology GroupInstitutional Investors Weigh In On Credo Technology GroupA number of institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in Credo Technology Group during the 4th quarter valued at $700,000. Pacer Advisors Inc. increased its holdings in Credo Technology Group by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 3,906 shares of the company's stock worth $263,000 after buying an additional 907 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Credo Technology Group by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company's stock worth $79,289,000 after buying an additional 43,169 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Credo Technology Group by 22.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,993,968 shares of the company's stock valued at $61,415,000 after acquiring an additional 368,518 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Credo Technology Group by 3.4% during the 4th quarter. Vontobel Holding Ltd. now owns 19,584 shares of the company's stock valued at $1,316,000 after acquiring an additional 635 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock. About Credo Technology Group (Get Free Report)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.See AlsoFive stocks we like better than Credo Technology Group3 Dividend Kings To ConsiderViking Therapeutics Stock Pops But Struggles to Hold GainsBank Stocks - Best Bank Stocks to Invest InQualcomm Stock Just Earned a Fresh Buy Rating—Get ExcitedWhat is MarketRank™? How to Use itMeta Stock Holds Upside Potential as Analysts Cut Price TargetsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Credo Technology Group Right Now?Before you consider Credo Technology Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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