Credo Technology Group Holding Ltd (NASDAQ: CRDO) is 27.21% higher on its value in year-to-date trading and has touched a low of $16.82 and a high of $85.56 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CRDO stock was last observed hovering at around $81.52 in the last trading session, with the day’s gains setting it 3.98%.
Currently trading at $85.50, the stock is 16.69% and 35.77% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.86 million and changing 4.88% at the moment leaves the stock 131.95% off its SMA200. CRDO registered 311.45% gain for a year compared to 6-month gain of 189.63%. The firm has a 50-day simple moving average (SMA 50) of $62.1516 and a 200-day simple moving average (SMA200) of $36.542477.
The stock witnessed a 28.65% loss in the last 1 month and extending the period to 3 months gives it a 129.16%, and is 23.22% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.48% over the week and 6.32% over the month.
Credo Technology Group Holding Ltd (CRDO) has around 500 employees, a market worth around $14.30B and $245.59M in sales. Fwd P/E is 86.25. Profit margin for the company is -9.70%. Distance from 52-week low is 408.32% and -0.07% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.10%).
with sales reaching $120.32M over the same period.The EPS is expected to grow by 440.31% this year, but quarterly earnings will post 101.51% year-over-year. Quarterly sales are estimated to grow 126.76% in year-over-year returns.
360.0 institutions hold shares in Credo Technology Group Holding Ltd (CRDO), with institutional investors hold 91.39% of the company’s shares. The shares outstanding are 167.16M, and float is at 136.53M with Short Float at 5.81%. Institutions hold 76.89% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 15.15 million shares valued at $483.96 million. The investor’s holdings represent 9.2574 of the CRDO Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 14.19 million shares valued at $453.31 million to account for 8.671 of the shares outstanding. The other top investors are JPMORGAN CHASE & CO which holds 12.23 million shares representing 7.4078 and valued at over $390.73 million, while CAPITAL RESEARCH GLOBAL INVESTORS holds 3.3759 of the shares totaling 5.53 million with a market value of $176.49 million.
Credo Technology Group Holding Ltd (CRDO) Insider Activity
The most recent transaction is an insider sale by Cheng Chi Fung, the company’s Chief Technology Officer. SEC filings show that Cheng Chi Fung sold 60,000 shares of the company’s common stock on Jan 14 ’25 at a price of $69.57 per share for a total of $4.17 million. Following the sale, the insider now owns 8.33 million shares.
Credo Technology Group Holding Ltd disclosed in a document filed with the SEC on Jan 15 ’25 that TAN LIP BU (Director) sold a total of 150,000 shares of the company’s common stock. The trade occurred on Jan 15 ’25 and was made at $72.69 per share for $10.9 million. Following the transaction, the insider now directly holds 0.96 million shares of the CRDO stock.
Still, SEC filings show that on Jan 15 ’25, WALDEN TECHNOLOGY VENTURES II (Director) Proposed Sale 150,000 shares at an average price of $72.69 for $10.9 million. The insider now directly holds shares of Credo Technology Group Holding Ltd (CRDO).
