Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Sells $276,900.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $27.69, for a total value of $276,900.00. Following the transaction, the chief operating officer now owns 2,885,840 shares in the company, valued at $79,908,909.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, August 12th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The shares were sold at an average price of $27.67, for a total value of $276,700.00.
• On Thursday, July 11th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The shares were sold at an average price of $30.62, for a total value of $306,200.00.

Credo Technology Group Stock Down 0.7 %

CRDO opened at $27.05 on Thursday. The stock has a market cap of $4.47 billion, a PE ratio of -150.28 and a beta of 2.26. The business has a 50 day moving average of $29.63 and a 200-day moving average of $25.14. Credo Technology Group Holding Ltd has a 52 week low of $13.38 and a 52 week high of $36.80.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays increased their target price on Credo Technology Group from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Bank of America increased their target price on Credo Technology Group from $25.00 to $27.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. TD Cowen upgraded Credo Technology Group to a “strong-buy” rating in a report on Monday. The Goldman Sachs Group increased their target price on Credo Technology Group from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Craig Hallum increased their target price on Credo Technology Group from $30.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of Credo Technology Group by 59.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 400 shares during the period. CWM LLC increased its position in Credo Technology Group by 78.1% during the 2nd quarter. CWM LLC now owns 1,355 shares of the company’s stock valued at $43,000 after buying an additional 594 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Credo Technology Group during the 2nd quarter valued at approximately $29,000. Advisors Asset Management Inc. increased its position in Credo Technology Group by 47.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,811 shares of the company’s stock valued at $81,000 after buying an additional 1,229 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Credo Technology Group by 30.1% in the 4th quarter. Assetmark Inc. now owns 5,460 shares of the company’s stock worth $106,000 after purchasing an additional 1,263 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.