Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) COO Yat Tung Lam sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $43.08, for a total transaction of $430,800.00. Following the sale, the chief operating officer now owns 2,792,447 shares in the company, valued at $120,298,616.76. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Yat Tung Lam also recently made the following trade(s):
- On Wednesday, March 26th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $45.23, for a total transaction of $452,300.00.
- On Wednesday, February 26th, Yat Tung Lam sold 100,000 shares of Credo Technology Group stock. The stock was sold at an average price of $61.13, for a total transaction of $6,113,000.00.
- 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 stock was 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 stock was sold at an average price of $73.26, for a total value of $7,326,000.00.
Credo Technology Group Trading Down 10.3 %
CRDO opened at $33.30 on Friday. The stock's fifty day simple moving average is $56.25 and its 200 day simple moving average is $54.13. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $86.69. The stock has a market cap of $5.65 billion, a PE ratio of -222.00 and a beta of 2.30.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. Barclays boosted their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Stifel Nicolaus raised their price objective on Credo Technology Group from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 6th. Bank of America dropped their target price on Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Susquehanna raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $80.00 price objective on shares of Credo Technology Group in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $74.60.
View Our Latest Analysis on Credo Technology Group
Hedge Funds Weigh In On Credo Technology Group
Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in 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 valued at $88,188,000 after acquiring an additional 705,512 shares during the period. Centiva Capital LP bought a new position in shares of Credo Technology Group during the third quarter worth approximately $553,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Credo Technology Group by 94.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company's stock valued at $7,507,000 after purchasing an additional 118,169 shares during the period. Proficio Capital Partners LLC acquired a new position in Credo Technology Group in the 4th quarter valued at $700,000. Finally, Pacer Advisors Inc. increased its position in Credo Technology Group by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 3,906 shares of the company's stock worth $263,000 after buying an additional 907 shares during the period. 80.46% of the stock is owned by institutional investors.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
