Yat Tung Lam Sells 100,000 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Free Report) COO Yat Tung Lam sold 100,000 shares of Credo Technology Group stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $73.26, for a total value of $7,326,000.00. Following the completion of the sale, the chief operating officer now directly owns 200,000 shares in the company, valued at approximately $14,652,000. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, December 30th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $69.52, for a total value 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 value of $6,803,000.00.

Credo Technology Group Stock Performance

Credo Technology Group stock opened at $75.48 on Thursday. The business’s 50-day simple moving average is $61.66 and its two-hundred day simple moving average is $42.43. The company has a market cap of $12.62 billion, a PE ratio of -503.20 and a beta of 2.11. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $78.97.

Institutional Trading of Credo Technology Group

Several large investors have recently added to or reduced their stakes in CRDO. Swedbank AB grew its stake in Credo Technology Group by 873.9% during the 3rd quarter. Swedbank AB now owns 3,300,314 shares of the company’s stock valued at $101,650,000 after purchasing an additional 2,961,454 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Credo Technology Group by 73.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,916,447 shares of the company’s stock valued at $120,627,000 after purchasing an additional 1,660,230 shares during the last quarter. FMR LLC grew its stake in 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 purchasing an additional 1,013,789 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Credo Technology Group by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company’s stock valued at $404,797,000 after purchasing an additional 909,578 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Credo Technology Group by 32.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock valued at $88,188,000 after purchasing an additional 705,512 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CRDO shares. The Goldman Sachs Group lifted their target price on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Needham & Company LLC lifted their target price on Credo Technology Group from $43.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. 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 report on Monday, January 6th. Barclays boosted their price objective on Credo Technology Group from $32.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Susquehanna initiated coverage on Credo Technology Group in a report on Tuesday, December 17th. They set a “neutral” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Read Our Latest Analysis on Credo Technology Group

Credo Technology Group Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Credo Technology Group (NASDAQ:CRDO)

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