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

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 100,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $58.66, for a total transaction of $5,866,000.00. Following the sale, the chief operating officer now owns 2,825,621 shares in the company, valued at $165,750,927.86. This represents a 3.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 shares were 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.
• On Friday, December 20th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The shares were sold at an average price of $68.03, for a total value of $6,803,000.00.

Credo Technology Group Trading Up 8.4 %

NASDAQ CRDO opened at $70.02 on Friday. The firm has a market capitalization of $11.71 billion, a PE ratio of -466.80 and a beta of 2.11. The business’s 50-day moving average price is $68.45 and its two-hundred day moving average price is $45.80. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 month high of $86.69.

Institutional Trading of Credo Technology Group

Several institutional investors have recently added to or reduced their stakes in CRDO. Kestra Investment Management LLC acquired a new position in shares of Credo Technology Group in the 4th quarter worth approximately $38,000. WASHINGTON TRUST Co bought a new position in Credo Technology Group during the fourth quarter worth $43,000. Principal Securities Inc. lifted its holdings in Credo Technology Group by 626.1% in the fourth 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. Allworth Financial LP boosted its position in Credo Technology Group by 917.9% during the third quarter. Allworth Financial LP now owns 855 shares of the company’s stock valued at $26,000 after acquiring an additional 771 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Credo Technology Group during the 3rd quarter worth about $30,000. 80.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CRDO. Roth Mkm raised their price target on shares of Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen boosted their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Craig Hallum upped their price target on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Needham & Company LLC raised their price objective on Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their target price on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

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.