Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Sells $384,100.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $38.41, for a total transaction of $384,100.00. Following the completion of the sale, the chief operating officer now directly owns 2,872,672 shares in the company, valued at approximately $110,339,331.52. This trade represents a 0.00 % decrease in their position. The transaction 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 Thursday, September 12th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $27.69, for a total transaction of $276,900.00.
• On Monday, August 12th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The shares were sold at an average price of $27.67, for a total value of $276,700.00.

Credo Technology Group Trading Up 1.7 %

Shares of NASDAQ CRDO opened at $37.61 on Friday. Credo Technology Group Holding Ltd has a twelve month low of $13.38 and a twelve month high of $40.37. The firm has a 50-day moving average of $31.47 and a two-hundred day moving average of $26.85. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of -208.94 and a beta of 2.24.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $59.71 million for the quarter, compared to analyst estimates of $59.50 million. Credo Technology Group had a negative net margin of 12.05% and a negative return on equity of 3.74%. As a group, research analysts predict that Credo Technology Group Holding Ltd will post -0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on CRDO shares. Stifel Nicolaus raised their target price on Credo Technology Group from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America raised their price target on Credo Technology Group from $25.00 to $27.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Craig Hallum upped their price objective on shares of Credo Technology Group from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Roth Mkm raised their target price on shares of Credo Technology Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Finally, Mizuho upped their price target on shares of Credo Technology Group from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday. One investment 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 company’s stock. According to data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.44.

Institutional Investors Weigh In On Credo Technology Group

Several large investors have recently modified their holdings of CRDO. Vanguard Group Inc. lifted its holdings in shares of Credo Technology Group by 7.7% during the first quarter. Vanguard Group Inc. now owns 15,063,781 shares of the company’s stock valued at $319,202,000 after purchasing an additional 1,072,301 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Credo Technology Group by 3.1% during the second quarter. Driehaus Capital Management LLC now owns 3,791,392 shares of the company’s stock valued at $121,097,000 after buying an additional 115,271 shares in the last quarter. Swedbank AB boosted its holdings in shares of Credo Technology Group by 873.9% in the third quarter. Swedbank AB now owns 3,300,314 shares of the company’s stock worth $101,650,000 after buying an additional 2,961,454 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Credo Technology Group by 9.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,431,433 shares of the company’s stock worth $77,660,000 after acquiring an additional 203,739 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Credo Technology Group by 1.9% during the first quarter. Jennison Associates LLC now owns 2,375,255 shares of the company’s stock valued at $50,332,000 after acquiring an additional 45,396 shares during the period. 80.46% of the stock is owned by institutional investors.

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.