Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Sells $276,900.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $27.69, for a total value of $276,900.00. Following the sale, the chief operating officer now owns 2,885,840 shares of the company’s stock, valued at approximately $79,908,909.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Yat Tung Lam also recently made the following trade(s):

• On Monday, August 12th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $27.67, for a total value of $276,700.00.
• On Thursday, July 11th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $30.62, for a total value of $306,200.00.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $27.05 on Thursday. Credo Technology Group Holding Ltd has a 52-week low of $13.38 and a 52-week high of $36.80. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -150.28 and a beta of 2.26. The business’s fifty day moving average is $29.63 and its 200 day moving average is $25.14.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Roth Mkm boosted their price objective on Credo Technology Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. The Goldman Sachs Group boosted their price objective on Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Craig Hallum boosted their price objective on Credo Technology Group from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. TD Cowen raised Credo Technology Group to a “strong-buy” rating in a research report on Monday. Finally, Stifel Nicolaus upped their price target on Credo Technology Group from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Institutional Trading of Credo Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI bought a new position in Credo Technology Group in the 2nd quarter worth about $29,000. Fifth Third Bancorp increased its stake in Credo Technology Group by 59.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock worth $34,000 after acquiring an additional 400 shares during the last quarter. CWM LLC increased its stake in Credo Technology Group by 78.1% in the 2nd quarter. CWM LLC now owns 1,355 shares of the company’s stock worth $43,000 after acquiring an additional 594 shares during the last quarter. Ulland Investment Advisors LLC bought a new position in Credo Technology Group in the 1st quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC bought a new position in Credo Technology Group in the 2nd quarter worth about $51,000. 80.46% of the stock is currently owned by institutional investors.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.