Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Lip Bu Tan Sells 3,799 Shares of Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) Director Lip Bu Tan sold 3,799 shares of Credo Technology Group stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.73, for a total value of $268,703.27. Following the completion of the transaction, the director now directly owns 1,709,926 shares of the company’s stock, valued at $120,943,065.98. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lip Bu Tan also recently made the following trade(s):

• On Monday, October 14th, Lip Bu Tan sold 15,281 shares of Credo Technology Group stock. The stock was sold at an average price of $39.05, for a total transaction of $596,723.05.
• On Friday, October 11th, Lip Bu Tan sold 100,000 shares of Credo Technology Group stock. The shares were sold at an average price of $38.16, for a total transaction of $3,816,000.00.
• On Wednesday, October 9th, Lip Bu Tan sold 125,000 shares of Credo Technology Group stock. The stock was sold at an average price of $35.18, for a total transaction of $4,397,500.00.
• On Monday, October 7th, Lip Bu Tan sold 143,046 shares of Credo Technology Group stock. The shares were sold at an average price of $32.29, for a total value of $4,618,955.34.
• On Friday, October 4th, Lip Bu Tan sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $32.10, for a total value of $3,210,000.00.
• On Wednesday, October 2nd, Lip Bu Tan sold 150,000 shares of Credo Technology Group stock. The shares were sold at an average price of $30.50, for a total value of $4,575,000.00.
• On Monday, September 30th, Lip Bu Tan sold 13,820 shares of Credo Technology Group stock. The stock was sold at an average price of $31.12, for a total value of $430,078.40.

Credo Technology Group Trading Down 9.7 %

CRDO stock opened at $67.03 on Tuesday. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $75.32. The firm has a market cap of $11.21 billion, a PE ratio of -446.87 and a beta of 2.26. The business’s 50-day moving average price is $43.57 and its two-hundred day moving average price is $34.16.

Analyst Upgrades and Downgrades

CRDO has been the subject of several analyst reports. Barclays lifted their price target on shares of Credo Technology Group from $32.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Mizuho lifted their target price on shares of Credo Technology Group from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Craig Hallum increased their price target on Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. TD Cowen lifted their price objective on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their target price on Credo Technology Group from $31.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $67.33.

Hedge Funds Weigh In On Credo Technology Group

Institutional investors have recently modified their holdings of the business. Assetmark Inc. raised its holdings in Credo Technology Group by 5.4% during the 3rd quarter. Assetmark Inc. now owns 4,978 shares of the company’s stock worth $153,000 after buying an additional 257 shares during the period. Fifth Third Bancorp increased its position in shares of Credo Technology Group by 59.3% during the second quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock worth $34,000 after acquiring an additional 400 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Credo Technology Group by 11.3% during the third quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company’s stock worth $145,000 after acquiring an additional 478 shares during the period. CWM LLC lifted its position in Credo Technology Group by 78.1% in the 2nd quarter. CWM LLC now owns 1,355 shares of the company’s stock valued at $43,000 after acquiring an additional 594 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Credo Technology Group by 4.2% in the 3rd quarter. US Bancorp DE now owns 16,210 shares of the company’s stock worth $499,000 after purchasing an additional 649 shares during the period. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

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.