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 the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $45.23, for a total transaction of $452,300.00. Following the completion of the sale, the chief operating officer now owns 2,802,447 shares in the company, valued at $126,754,677.81. The trade was a 0.36 % decrease in their ownership of the stock. 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 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 value of $805,900.00.
• On Friday, January 10th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was 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.

Credo Technology Group Stock Down 4.5 %

Shares of CRDO stock opened at $40.51 on Friday. The stock’s 50-day moving average price is $60.57 and its 200 day moving average price is $53.73. The stock has a market capitalization of $6.88 billion, a PE ratio of -270.07 and a beta of 2.16. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRDO. The Goldman Sachs Group boosted their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Bank of America decreased their price objective on shares of Credo Technology Group from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Stifel Nicolaus lifted their target price on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Mizuho upped their target price on Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, TD Cowen lifted their price target on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $74.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CRDO. Nisa Investment Advisors LLC lifted its holdings in shares of Credo Technology Group by 8.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $225,000 after purchasing an additional 255 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Credo Technology Group by 51.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,028 shares of the company’s stock worth $75,000 after acquiring an additional 348 shares during the period. GAMMA Investing LLC boosted its holdings in shares of 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 acquiring an additional 351 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Credo Technology Group by 9.4% in the fourth quarter. Amalgamated Bank now owns 4,777 shares of the company’s stock valued at $321,000 after acquiring an additional 411 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Credo Technology Group by 11.3% during the third quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company’s stock worth $145,000 after acquiring an additional 478 shares during the period. 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.