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 Thursday, September 12th. The shares were sold at an average price of $27.69, for a total transaction of $276,900.00. Following the transaction, the chief operating officer now owns 2,885,840 shares in the company, valued at approximately $79,908,909.60. The sale was disclosed in a filing with the SEC, which is available at this link.

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 stock was sold at an average price of $30.62, for a total value of $306,200.00.

Credo Technology Group Stock Performance

Shares of Credo Technology Group stock opened at $27.76 on Tuesday. The firm has a 50-day simple moving average of $29.80 and a two-hundred day simple moving average of $25.10. Credo Technology Group Holding Ltd has a fifty-two week low of $13.38 and a fifty-two week high of $36.80. The company has a market cap of $4.59 billion, a P/E ratio of -154.22 and a beta of 2.26.

Institutional Trading of Credo Technology Group

Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp lifted its position in shares of Credo Technology Group by 59.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 400 shares in the last quarter. CWM LLC increased its stake in shares of Credo Technology Group by 78.1% during the second quarter. CWM LLC now owns 1,355 shares of the company’s stock worth $43,000 after purchasing an additional 594 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Credo Technology Group in the 2nd quarter valued at about $29,000. Advisors Asset Management Inc. lifted its stake in Credo Technology Group by 47.6% in 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. boosted its holdings in 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 buying an additional 1,263 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Bank of America lifted their target price on Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Craig Hallum lifted their price objective on shares of Credo Technology Group from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. The Goldman Sachs Group increased their price objective on shares of Credo Technology Group from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Needham & Company LLC boosted their target price on shares of Credo Technology Group from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Finally, Roth Mkm increased their price target on Credo Technology Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of “Moderate Buy” and an average price target of $34.00.

About Credo Technology Group

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.