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, April 2nd. The stock was sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 value 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 value 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 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 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 transaction of $7,326,000.00.

Credo Technology Group Stock Performance

CRDO stock opened at $33.30 on Monday. The stock has a 50-day simple moving average of $56.25 and a 200-day simple moving average of $54.32. The firm has a market cap of $5.65 billion, a P/E ratio of -222.00 and a beta of 2.30. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69.

Institutional Trading of Credo Technology Group

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. Susquehanna raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Barclays raised their price objective on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group boosted 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. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Credo Technology Group currently has an average rating of “Buy” and an average target price of $74.60.

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.