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

Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) COO Yat Tung Lam sold 100,000 shares of Credo Technology Group stock in a transaction on Friday, December 20th. The stock was sold at an average price of $68.03, for a total transaction of $6,803,000.00. Following the completion of the transaction, the chief operating officer now directly owns 400,000 shares of the company's stock, valued at $27,212,000. The trade was a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 stock was sold at an average price of $38.41, for a total transaction of $384,100.00.

Credo Technology Group Trading Up 1.1 %

Shares of CRDO stock traded up $0.80 during trading hours on Thursday, reaching $72.02. 2,569,712 shares of the company's stock were exchanged, compared to its average volume of 2,486,621. The company has a market cap of $12.04 billion, a price-to-earnings ratio of -480.13 and a beta of 2.26. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $78.97. The stock's 50 day moving average is $52.13 and its 200-day moving average is $37.97.

Analyst Upgrades and Downgrades

CRDO has been the topic of a number of analyst reports. Mizuho upped their target price on Credo Technology Group from $35.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Susquehanna started coverage on shares of Credo Technology Group in a research note on Tuesday, December 17th. They set a "neutral" rating and a $80.00 target price for the company. TD Cowen raised their price target on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Needham & Company LLC upped their target price on shares of Credo Technology Group from $43.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $75.00 price target (up previously from $50.00) on shares of Credo Technology Group in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $68.60.

Institutional Investors Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its position 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 purchasing an additional 771 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Credo Technology Group during the 2nd quarter valued at approximately $29,000. Rakuten Securities Inc. purchased a new position in shares of Credo Technology Group in the third quarter worth $30,000. Brown Brothers Harriman & Co. lifted its stake in shares of Credo Technology Group by 695.1% during the third quarter. Brown Brothers Harriman & Co. now owns 1,145 shares of the company's stock worth $35,000 after buying an additional 1,001 shares during the period. Finally, Cranbrook Wealth Management LLC acquired a new stake in shares of Credo Technology Group during the second quarter worth $51,000. 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.