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

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 100,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $68.03, for a total value of $6,803,000.00. Following the completion of the sale, the chief operating officer now owns 400,000 shares of the company’s stock, valued at $27,212,000. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, October 11th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The shares were sold at an average price of $38.41, for a total transaction of $384,100.00.

Credo Technology Group Stock Down 3.8 %

NASDAQ:CRDO opened at $69.29 on Friday. The stock’s 50-day simple moving average is $53.46 and its 200 day simple moving average is $38.56. Credo Technology Group Holding Ltd has a twelve month low of $16.82 and a twelve month high of $78.97. The firm has a market capitalization of $11.59 billion, a PE ratio of -461.93 and a beta of 2.26.

Analyst Ratings Changes

CRDO has been the subject of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective (up previously from $50.00) on shares of Credo Technology Group in a research note on Tuesday, December 3rd. Roth Mkm boosted their price target on Credo Technology Group from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group increased their price target on Credo Technology Group from $31.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum lifted their price objective on Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Bank of America raised Credo Technology Group from an “underperform” rating to a “buy” rating and increased their target price for the stock from $27.00 to $80.00 in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of Credo Technology Group during the third quarter valued at $3,948,000. Wellington Management Group LLP raised its position in shares of Credo Technology Group by 32.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock worth $88,188,000 after acquiring an additional 705,512 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Credo Technology Group by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company’s stock valued at $35,006,000 after purchasing an additional 95,335 shares during the period. Centiva Capital LP bought a new stake in shares of Credo Technology Group during the 3rd quarter valued at about $553,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 purchasing an additional 118,169 shares during the period. 80.46% of the stock is currently owned by 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.