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 dated Wednesday, April 2nd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the transaction, the chief operating officer now directly owns 2,792,447 shares of the company’s stock, valued at $120,298,616.76. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, March 26th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $45.23, for a total transaction of $452,300.00.
• 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 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 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.

Credo Technology Group Stock Down 10.3 %

Credo Technology Group stock opened at $33.30 on Friday. The firm has a fifty day simple moving average of $56.25 and a two-hundred day simple moving average of $53.95. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $86.69. The company has a market capitalization of $5.65 billion, a PE ratio of -222.00 and a beta of 2.16.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRDO. Bank of America dropped their price target on Credo Technology Group from $83.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Susquehanna raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Stifel Nicolaus lifted their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $74.60.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors have recently bought and sold shares of the stock. Fire Capital Management LLC bought a new stake in Credo Technology Group in the fourth quarter valued at approximately $569,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Credo Technology Group during the 4th quarter valued at $7,799,000. B. Riley Wealth Advisors Inc. purchased a new stake in Credo Technology Group during the 4th quarter valued at $498,000. Mackenzie Financial Corp grew its holdings in Credo Technology Group by 395.3% in the 4th quarter. Mackenzie Financial Corp now owns 38,144 shares of the company’s stock worth $2,564,000 after acquiring an additional 30,443 shares during the last quarter. Finally, Forum Financial Management LP purchased a new position in shares of Credo Technology Group in the fourth quarter valued at about $253,000. 80.46% of the stock is currently owned by hedge funds and other 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.