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

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 100,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $68.03, for a total value of $6,803,000.00. Following the transaction, the chief operating officer now directly owns 400,000 shares in the company, valued at $27,212,000. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, October 11th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The shares were sold at an average price of $38.41, for a total value of $384,100.00.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $72.02 on Friday. The stock has a fifty day simple moving average of $52.13 and a two-hundred day simple moving average of $37.97. The firm has a market capitalization of $12.04 billion, a PE ratio of -480.13 and a beta of 2.26. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $78.97.

Analyst Upgrades and Downgrades

CRDO has been the subject of a number of recent research reports. Needham & Company LLC boosted their price target on Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 target price (up from $50.00) on shares of Credo Technology Group in a report on Tuesday, December 3rd. Susquehanna started coverage on shares of Credo Technology Group in a research note on Tuesday, December 17th. They set a “neutral” rating and a $80.00 price target on the stock. Mizuho upped their price objective on Credo Technology Group from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their target price on Credo Technology Group from $31.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Institutional Trading of Credo Technology Group

Several institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its stake in Credo Technology Group by 917.9% in the 3rd quarter. Allworth Financial LP now owns 855 shares of the company’s stock worth $26,000 after purchasing an additional 771 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Credo Technology Group in the second quarter worth $29,000. Rakuten Securities Inc. bought a new position in shares of Credo Technology Group during the third quarter worth $30,000. Brown Brothers Harriman & Co. grew its stake in Credo Technology Group by 695.1% during the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock valued at $35,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Cranbrook Wealth Management LLC bought a new stake in Credo Technology Group in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

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.