Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) COO Yat Tung Lam sold 100,000 shares of the business's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $58.66, for a total value of $5,866,000.00. Following the completion of the transaction, the chief operating officer now directly owns 2,825,621 shares in the company, valued at approximately $165,750,927.86. This represents a 3.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Yat Tung Lam also recently made the following trade(s):
- 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 transaction of $805,900.00.
- 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 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 stock was sold at an average price of $68.03, for a total value of $6,803,000.00.
Credo Technology Group Stock Performance
NASDAQ:CRDO traded up $4.44 during trading hours on Tuesday, hitting $76.25. The stock had a trading volume of 4,995,194 shares, compared to its average volume of 5,697,715. The business's 50 day moving average is $69.54 and its 200-day moving average is $46.62. The company has a market cap of $12.75 billion, a price-to-earnings ratio of -508.33 and a beta of 2.09. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $86.69.
Analysts Set New Price Targets
A number of research firms have recently weighed in on CRDO. Mizuho boosted their target price on Credo Technology Group from $70.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. The Goldman Sachs Group boosted their price objective 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 raised their target price on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Susquehanna initiated coverage on shares of Credo Technology Group in a research report on Tuesday, December 17th. They set a "neutral" rating and a $80.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 6th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.40.
View Our Latest Analysis on Credo Technology Group
Institutional Trading of Credo Technology Group
Several hedge funds have recently added to or reduced their stakes in CRDO. Nisa Investment Advisors LLC increased its holdings in shares of Credo Technology Group by 8.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company's stock worth $225,000 after acquiring an additional 255 shares in the last quarter. Assetmark Inc. grew its position in shares of Credo Technology Group by 5.4% in the 3rd quarter. Assetmark Inc. now owns 4,978 shares of the company's stock valued at $153,000 after purchasing an additional 257 shares during the period. GAMMA Investing LLC increased its stake in Credo Technology Group by 56.3% during the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company's stock worth $65,000 after purchasing an additional 351 shares in the last quarter. Amalgamated Bank raised its holdings in Credo Technology Group by 9.4% during the 4th quarter. Amalgamated Bank now owns 4,777 shares of the company's stock worth $321,000 after buying an additional 411 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Credo Technology Group by 11.3% in the third quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company's stock valued at $145,000 after buying an additional 478 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.
About Credo Technology Group
(
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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