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

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Free Report) COO Yat Tung Lam sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.93, for a total transaction of $209,300.00. Following the transaction, the chief operating officer now owns 3,065,968 shares in the company, valued at $64,170,710.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Wednesday, February 28th, Yat Tung Lam sold 215,364 shares of Credo Technology Group stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $22.50, for a total value of $9,157.50.
  • On Monday, February 5th, Yat Tung Lam sold 130,000 shares of Credo Technology Group stock. The stock was sold at an average price of $21.33, for a total value of $2,772,900.00.
  • On Thursday, January 18th, Yat Tung Lam sold 270,980 shares of Credo Technology Group stock. The stock was sold at an average price of $19.14, for a total value of $5,186,557.20.
  • On Tuesday, January 16th, Yat Tung Lam sold 10,000 shares of Credo Technology Group stock. The stock was sold at an average price of $19.09, for a total value of $190,900.00.
  • On Thursday, January 11th, Yat Tung Lam sold 2,227 shares of Credo Technology Group stock. The stock was sold at an average price of $20.00, for a total value of $44,540.00.

Credo Technology Group Price Performance

Shares of Credo Technology Group stock opened at $19.36 on Friday. Credo Technology Group Holding Ltd has a 1 year low of $7.20 and a 1 year high of $23.90. The stock has a 50-day moving average price of $21.09 and a 200 day moving average price of $18.25.

Credo Technology Group (NASDAQ:CRDOGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $53.06 million for the quarter, compared to analyst estimates of $51.91 million. Credo Technology Group had a negative return on equity of 7.82% and a negative net margin of 20.59%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. On average, equities analysts forecast that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada bought a new stake in shares of Credo Technology Group in the 1st quarter worth approximately $26,000. Ameritas Investment Partners Inc. acquired a new stake in Credo Technology Group during the 1st quarter valued at $26,000. Advisors Asset Management Inc. increased its holdings in Credo Technology Group by 295.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,841 shares of the company’s stock valued at $28,000 after purchasing an additional 1,376 shares in the last quarter. KBC Group NV acquired a new stake in Credo Technology Group during the 4th quarter valued at $43,000. Finally, Altshuler Shaham Ltd acquired a new stake in Credo Technology Group during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 54.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CRDO shares. TheStreet upgraded Credo Technology Group from a “d+” rating to a “c-” rating in a report on Wednesday, November 29th. 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 report on Wednesday, February 28th. Needham & Company LLC boosted their price target on Credo Technology Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Stifel Nicolaus boosted their price target on Credo Technology Group from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. Finally, TD Cowen upped their target price on 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

View Our Latest Stock Analysis on Credo Technology Group

About Credo Technology Group

(Get Free Report)

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.

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