Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Sells $6,113,000.00 in Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 100,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $61.13, for a total value of $6,113,000.00. Following the completion of the transaction, the chief operating officer now directly owns 1,000,000 shares in the company, valued at approximately $61,130,000. This trade represents a 9.09 % decrease in their position. 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 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 shares were 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 transaction 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

CRDO stock traded up $2.58 during trading hours on Friday, reaching $55.18. 8,878,077 shares of the stock were exchanged, compared to its average volume of 5,489,010. The company has a market cap of $9.23 billion, a price-to-earnings ratio of -367.87 and a beta of 2.09. The firm’s 50-day moving average is $71.27 and its 200-day moving average is $51.38. Credo Technology Group Holding Ltd has a 12 month low of $16.82 and a 12 month high of $86.69.

Analysts Set New Price Targets

A number of analysts recently commented on CRDO shares. Susquehanna started coverage on shares of Credo Technology Group in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 price objective for the company. Needham & Company LLC upped their price objective on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. TD Cowen upped their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Craig Hallum upped their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus increased 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Moderate Buy” and an average price target of $76.40.

Hedge Funds Weigh In On Credo Technology Group

Several hedge funds have recently modified their holdings of CRDO. Creative Planning bought a new position in shares of Credo Technology Group in the 3rd quarter valued at about $359,000. Allworth Financial LP grew its holdings in shares of Credo Technology Group by 917.9% in the 3rd quarter. Allworth Financial LP now owns 855 shares of the company’s stock valued at $26,000 after acquiring an additional 771 shares in the last quarter. US Bancorp DE grew its holdings in shares of Credo Technology Group by 4.2% in the 3rd quarter. US Bancorp DE now owns 16,210 shares of the company’s stock valued at $499,000 after acquiring an additional 649 shares in the last quarter. F M Investments LLC grew its holdings in shares of Credo Technology Group by 12.4% in the 3rd quarter. F M Investments LLC now owns 22,456 shares of the company’s stock valued at $692,000 after acquiring an additional 2,475 shares in the last quarter. Finally, Emerald Advisers LLC grew its holdings in shares of Credo Technology Group by 5.7% in the 3rd quarter. Emerald Advisers LLC now owns 1,593,082 shares of the company’s stock valued at $49,067,000 after acquiring an additional 86,063 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

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.