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 business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $45.23, for a total transaction of $452,300.00. Following the completion of the transaction, the chief operating officer now directly owns 2,802,447 shares of the company’s stock, valued at $126,754,677.81. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction 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 stock was sold at an average price of $80.59, for a total value 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 value of $7,326,000.00.
• On Monday, December 30th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $69.52, for a total value of $6,952,000.00.

Credo Technology Group Price Performance

CRDO stock opened at $40.51 on Friday. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69. The firm has a market capitalization of $6.88 billion, a P/E ratio of -270.07 and a beta of 2.16. The company’s 50 day simple moving average is $60.57 and its 200-day simple moving average is $53.53.

Institutional Trading of Credo Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. boosted its position in Credo Technology Group by 695.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock worth $35,000 after acquiring an additional 1,001 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth approximately $38,000. WASHINGTON TRUST Co purchased a new position in Credo Technology Group during the fourth quarter valued at approximately $43,000. Principal Securities Inc. increased its stake in Credo Technology Group by 626.1% in the 4th quarter. Principal Securities Inc. now owns 668 shares of the company’s stock valued at $45,000 after buying an additional 576 shares during the period. Finally, Quarry LP acquired a new stake in shares of Credo Technology Group during the 4th quarter valued at $58,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Ratings Changes

CRDO has been the topic of a number of recent analyst reports. TD Cowen upped their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Craig Hallum raised their target price 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. Stifel Nicolaus lifted their target price on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday, January 10th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $74.90.

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.