Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Sells $430,800.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction on Wednesday, April 2nd. The shares were 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 approximately $120,298,616.76. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 shares were sold at an average price of $45.23, for a total transaction of $452,300.00.
• On Wednesday, February 26th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $61.13, for a total transaction of $6,113,000.00.
• On Wednesday, January 29th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The shares were 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 stock was 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 shares were sold at an average price of $73.26, for a total value of $7,326,000.00.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $33.30 on Friday. The company has a market capitalization of $5.65 billion, a P/E ratio of -222.00 and a beta of 2.16. The business has a fifty day simple moving average of $56.25 and a two-hundred day simple moving average of $53.95. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69.

Institutional Investors Weigh In On Credo Technology Group

Several large investors have recently added to or reduced their stakes in CRDO. Norges Bank purchased a new stake in Credo Technology Group during the fourth quarter valued at about $117,242,000. Alliancebernstein L.P. raised its position in shares of Credo Technology Group by 299.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,740,982 shares of the company’s stock valued at $117,011,000 after purchasing an additional 1,305,594 shares during the period. Polar Capital Holdings Plc raised its position in shares of Credo Technology Group by 382.1% in the fourth quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company’s stock valued at $97,527,000 after purchasing an additional 1,150,084 shares during the period. FMR LLC lifted its stake in shares of Credo Technology Group by 731.6% during the 3rd quarter. FMR LLC now owns 1,152,361 shares of the company’s stock valued at $35,493,000 after buying an additional 1,013,789 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Credo Technology Group by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company’s stock worth $404,797,000 after buying an additional 909,578 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analysts Set New Price Targets

CRDO has been the topic of several recent analyst reports. Barclays raised their price objective on Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Susquehanna upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. The Goldman Sachs Group increased their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Stifel Nicolaus boosted their target price on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Mizuho decreased their price target on Credo Technology Group from $90.00 to $82.00 and set an “outperform” rating for the company in a research report on Thursday. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.