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

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $80.59, for a total value of $805,900.00. Following the completion of the transaction, the chief operating officer now directly owns 2,825,621 shares of the company’s stock, valued at approximately $227,716,796.39. This trade represents a 0.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 shares were sold at an average price of $69.52, for a total transaction of $6,952,000.00.
• On Friday, December 20th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $68.03, for a total transaction of $6,803,000.00.

Credo Technology Group Price Performance

Shares of CRDO stock traded down $1.32 during trading hours on Thursday, reaching $84.18. 3,276,256 shares of the company were exchanged, compared to its average volume of 4,384,490. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69. The stock’s fifty day moving average is $65.04 and its two-hundred day moving average is $44.15. The company has a market cap of $14.08 billion, a price-to-earnings ratio of -561.20 and a beta of 2.11.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allworth Financial LP raised its stake in shares of Credo Technology Group by 917.9% during the third quarter. Allworth Financial LP now owns 855 shares of the company’s stock worth $26,000 after buying an additional 771 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Credo Technology Group during the 3rd quarter worth $30,000. Brown Brothers Harriman & Co. lifted its stake in shares of Credo Technology Group by 695.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company’s stock valued at $35,000 after purchasing an additional 1,001 shares during the period. Larson Financial Group LLC boosted its position in shares of Credo Technology Group by 240.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,982 shares of the company’s stock worth $61,000 after purchasing an additional 1,399 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Credo Technology Group by 56.3% in the fourth quarter. GAMMA Investing LLC now owns 974 shares of the company’s stock valued at $65,000 after purchasing an additional 351 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRDO. Susquehanna began 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 for the company. Bank of America raised Credo Technology Group from an “underperform” rating to a “buy” rating and boosted their price target for the company from $27.00 to $80.00 in a research note on Tuesday, December 3rd. Needham & Company LLC increased their price objective on Credo Technology Group from $43.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Barclays lifted their price target on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.