Yat Tung Lam Sells 10,000 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction that occurred on 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 sale, the chief operating officer now owns 2,802,447 shares of the company’s stock, valued at $126,754,677.81. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 shares were 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 shares were sold at an average price of $58.66, for a total value of $5,866,000.00.
• 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 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 shares were sold at an average price of $69.52, for a total transaction of $6,952,000.00.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $40.51 on Friday. The company’s fifty day moving average price is $60.57 and its two-hundred day moving average price is $53.53. 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 PE ratio of -270.07 and a beta of 2.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fire Capital Management LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter worth about $569,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Credo Technology Group in the 4th quarter valued at $7,799,000. B. Riley Wealth Advisors Inc. bought a new position in Credo Technology Group in the fourth quarter valued at about $498,000. Mackenzie Financial Corp increased its position in Credo Technology Group by 395.3% in the fourth quarter. Mackenzie Financial Corp now owns 38,144 shares of the company’s stock worth $2,564,000 after purchasing an additional 30,443 shares during the period. Finally, Forum Financial Management LP bought a new stake in Credo Technology Group during the 4th quarter worth about $253,000. Institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRDO. Stifel Nicolaus raised their target price on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Mizuho lifted their price objective on Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Susquehanna upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Craig Hallum increased their price objective on Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $74.90.

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.