Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam Sells 10,000 Shares

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $43.08, for a total transaction of $430,800.00. Following the transaction, the chief operating officer now owns 2,792,447 shares of the company’s stock, valued at approximately $120,298,616.76. This represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, March 26th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $45.23, for a total value of $452,300.00.
• On Wednesday, February 26th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $61.13, for a total value of $6,113,000.00.
• On Wednesday, January 29th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $58.66, for a total transaction of $5,866,000.00.
• On Tuesday, January 21st, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The shares were sold at an average price of $80.59, for a total transaction of $805,900.00.
• On Friday, January 10th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $73.26, for a total transaction of $7,326,000.00.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $33.30 on Friday. The firm’s 50 day moving average price is $56.25 and its two-hundred day moving average price is $54.13. The stock has a market cap of $5.65 billion, a PE ratio of -222.00 and a beta of 2.30. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CRDO shares. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Credo Technology Group in a report on Wednesday, March 5th. Bank of America lowered their target price on Credo Technology Group from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Susquehanna raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Stifel Nicolaus boosted their target price on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Barclays increased their price target on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $74.60.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors have recently made changes to their positions in the stock. Fire Capital Management LLC acquired a new position in Credo Technology Group in the fourth quarter valued at about $569,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Credo Technology Group during the 4th quarter worth approximately $7,799,000. B. Riley Wealth Advisors Inc. acquired a new position in Credo Technology Group during the fourth quarter valued at approximately $498,000. Mackenzie Financial Corp increased its stake in Credo Technology Group by 395.3% in the fourth quarter. Mackenzie Financial Corp now owns 38,144 shares of the company’s stock valued at $2,564,000 after purchasing an additional 30,443 shares in the last quarter. Finally, Forum Financial Management LP acquired a new stake in Credo Technology Group in the fourth quarter worth $253,000. 80.46% of the stock is owned by institutional investors and hedge funds.

About Credo Technology Group

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.