Yat Tung Lam Sells 100,000 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $68.03, for a total transaction of $6,803,000.00. Following the completion of the transaction, the chief operating officer now directly owns 400,000 shares of the company’s stock, valued at approximately $27,212,000. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, October 11th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $38.41, for a total transaction of $384,100.00.

Credo Technology Group Trading Up 1.1 %

Shares of NASDAQ CRDO traded up $0.80 during trading hours on Thursday, reaching $72.02. The stock had a trading volume of 2,567,592 shares, compared to its average volume of 2,484,870. The firm has a 50-day moving average of $52.13 and a 200-day moving average of $37.97. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of -480.13 and a beta of 2.26. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $78.97.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Susquehanna initiated coverage on Credo Technology Group in a report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 target price for the company. Needham & Company LLC lifted their price objective on Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Barclays upped their target price on shares of Credo Technology Group from $32.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 price target (up previously from $50.00) on shares of Credo Technology Group in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Credo Technology Group from $31.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Hedge Funds Weigh In On Credo Technology Group

Several institutional investors have recently bought and sold shares of CRDO. Allworth Financial LP grew its stake in shares of Credo Technology Group by 917.9% during the 3rd quarter. Allworth Financial LP now owns 855 shares of the company’s stock worth $26,000 after purchasing an additional 771 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Credo Technology Group during the 2nd quarter valued at about $29,000. Rakuten Securities Inc. acquired a new stake in shares of Credo Technology Group in the third quarter valued at approximately $30,000. Brown Brothers Harriman & Co. increased its position in Credo Technology Group by 695.1% during the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock worth $35,000 after buying an additional 1,001 shares in the last quarter. Finally, Cranbrook Wealth Management LLC acquired a new stake in shares of Credo Technology Group during the second quarter valued at $51,000. 80.46% of the stock is owned by institutional investors and hedge funds.

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.