Yat Tung Lam Sells 10,000 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $38.41, for a total value of $384,100.00. Following the completion of the transaction, the chief operating officer now directly owns 2,872,672 shares of the company’s stock, valued at approximately $110,339,331.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, September 12th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $27.69, for a total transaction of $276,900.00.
• On Monday, August 12th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The shares were sold at an average price of $27.67, for a total transaction of $276,700.00.

Credo Technology Group Trading Up 1.7 %

Shares of NASDAQ:CRDO opened at $36.99 on Thursday. Credo Technology Group Holding Ltd has a 12-month low of $13.38 and a 12-month high of $40.37. The company has a market cap of $6.11 billion, a PE ratio of -205.50 and a beta of 2.24. The stock has a 50 day moving average of $31.26 and a 200 day moving average of $26.78.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Credo Technology Group had a negative return on equity of 3.74% and a negative net margin of 12.05%. The firm had revenue of $59.71 million during the quarter, compared to analysts’ expectations of $59.50 million. Equities research analysts predict that Credo Technology Group Holding Ltd will post -0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRDO. Needham & Company LLC boosted their target price on shares of Credo Technology Group from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Craig Hallum upped their price objective on Credo Technology Group from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Mizuho raised their target price on Credo Technology Group from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday. Roth Mkm upped their price target on shares of Credo Technology Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Finally, Bank of America increased their price objective on shares of Credo Technology Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Moderate Buy” and an average target price of $35.44.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Arcadia Investment Management Corp MI purchased a new stake in shares of Credo Technology Group during the second quarter worth about $29,000. Fifth Third Bancorp boosted its stake in Credo Technology Group by 59.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,074 shares of the company’s stock worth $34,000 after purchasing an additional 400 shares during the period. Covestor Ltd raised its position in shares of Credo Technology Group by 19,240.0% during the first quarter. Covestor Ltd now owns 1,934 shares of the company’s stock valued at $41,000 after buying an additional 1,924 shares during the last quarter. CWM LLC lifted its holdings in shares of Credo Technology Group by 78.1% in the second quarter. CWM LLC now owns 1,355 shares of the company’s stock worth $43,000 after buying an additional 594 shares in the last quarter. Finally, Cranbrook Wealth Management LLC purchased a new position in shares of Credo Technology Group in the second quarter worth $51,000. 80.46% of the stock is owned by institutional investors.

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.