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 business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $80.59, for a total value of $805,900.00. Following the completion of the transaction, the chief operating officer now owns 2,825,621 shares of the company’s stock, valued at $227,716,796.39. This represents a 0.35 % 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 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.
• On Friday, December 20th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The shares were sold at an average price of $68.03, for a total transaction of $6,803,000.00.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $80.47 on Friday. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $86.69. The company’s fifty day moving average price is $66.70 and its 200-day moving average price is $44.76. The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of -536.47 and a beta of 2.11.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRDO. TD Cowen boosted their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Craig Hallum upped their price objective on Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Roth Mkm raised their target price on Credo Technology Group from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group upped their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Mizuho raised their price objective on shares of Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Credo Technology Group currently has an average rating of “Moderate Buy” and a consensus target price of $76.40.

Hedge Funds Weigh In On Credo Technology Group

Several large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in shares of Credo Technology Group during the third quarter worth about $3,948,000. Wellington Management Group LLP grew its holdings 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 buying an additional 705,512 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Credo Technology Group during the third quarter valued at approximately $553,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Credo Technology Group by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company’s stock worth $35,006,000 after buying an additional 95,335 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Credo Technology Group by 94.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company’s stock worth $7,507,000 after acquiring an additional 118,169 shares during the last quarter. 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.