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

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $22.12, for a total transaction of $221,200.00. Following the completion of the sale, the chief operating officer now owns 3,153,738 shares in the company, valued at approximately $69,760,684.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, April 3rd, Yat Tung Lam sold 153,825 shares of Credo Technology Group stock. The shares were sold at an average price of $22.58, for a total transaction of $3,473,368.50.
• On Monday, March 25th, Yat Tung Lam sold 94,329 shares of Credo Technology Group stock. The shares were sold at an average price of $22.51, for a total value of $2,123,345.79.
• On Tuesday, March 19th, Yat Tung Lam sold 37,733 shares of Credo Technology Group stock. The shares were sold at an average price of $20.02, for a total value of $755,414.66.
• On Monday, March 11th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The shares were sold at an average price of $20.93, for a total value of $209,300.00.
• On Wednesday, February 28th, Yat Tung Lam sold 215,364 shares of Credo Technology Group stock. The shares were sold at an average price of $22.92, for a total value of $4,936,142.88.
• On Monday, February 26th, Yat Tung Lam sold 140,255 shares of Credo Technology Group stock. The shares were sold at an average price of $22.55, for a total value of $3,162,750.25.
• On Thursday, February 22nd, Yat Tung Lam sold 315,601 shares of Credo Technology Group stock. The shares were sold at an average price of $22.93, for a total value of $7,236,730.93.
• On Tuesday, February 20th, Yat Tung Lam sold 130,000 shares of Credo Technology Group stock. The shares were sold at an average price of $21.17, for a total value of $2,752,100.00.
• On Thursday, February 15th, Yat Tung Lam sold 46,321 shares of Credo Technology Group stock. The shares were sold at an average price of $22.52, for a total value of $1,043,148.92.
• On Tuesday, February 13th, Yat Tung Lam sold 407 shares of Credo Technology Group stock. The shares were sold at an average price of $22.50, for a total transaction of $9,157.50.

Credo Technology Group Stock Performance

NASDAQ:CRDO traded down $2.00 on Monday, reaching $19.44. The company’s stock had a trading volume of 2,749,047 shares, compared to its average volume of 2,170,787. Credo Technology Group Holding Ltd has a 1-year low of $7.20 and a 1-year high of $23.90. The firm has a market cap of $3.17 billion, a PE ratio of -86.48 and a beta of 1.97. The business’s 50-day moving average price is $21.57 and its two-hundred day moving average price is $19.13.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Credo Technology Group had a negative return on equity of 7.82% and a negative net margin of 20.59%. The firm had revenue of $53.06 million during the quarter, compared to analysts’ expectations of $51.91 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada acquired a new position in shares of Credo Technology Group during the first quarter worth about $26,000. Ameritas Investment Partners Inc. acquired a new position in shares of Credo Technology Group during the first quarter worth about $26,000. Advisors Asset Management Inc. boosted its position in shares of Credo Technology Group by 295.9% during the third quarter. Advisors Asset Management Inc. now owns 1,841 shares of the company’s stock worth $28,000 after buying an additional 1,376 shares during the period. KBC Group NV acquired a new position in shares of Credo Technology Group during the fourth quarter worth about $43,000. Finally, Altshuler Shaham Ltd acquired a new position in Credo Technology Group during the fourth quarter valued at approximately $40,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho reissued a “buy” rating and set a $30.00 price target (up from $28.00) on shares of Credo Technology Group in a research note on Wednesday, February 28th. TD Cowen upped their target price on shares of Credo Technology Group from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group upped their price objective on Credo Technology Group from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Craig Hallum upped their price objective on Credo Technology Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday. Finally, Needham & Company LLC upped their price objective on Credo Technology Group from $24.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Credo Technology Group presently has an average rating of “Moderate Buy” and an average price target of $24.25.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.