Yat Tung Lam Sells 94,329 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam sold 94,329 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $22.51, for a total value of $2,123,345.79. Following the completion of the transaction, the chief operating officer now directly owns 912,878 shares in the company, valued at $20,548,883.78. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 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.

Credo Technology Group Stock Down 0.0 %

Shares of Credo Technology Group stock opened at $21.19 on Friday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -92.13 and a beta of 2.00. The business has a 50-day moving average price of $21.47 and a 200-day moving average price of $18.56. Credo Technology Group Holding Ltd has a twelve month low of $7.20 and a twelve month high of $23.90.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $53.06 million during 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 quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share. On average, equities analysts expect that Credo Technology Group Holding Ltd will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRDO. BlackRock Inc. grew its position in shares of Credo Technology Group by 255.4% during the third quarter. BlackRock Inc. now owns 12,750,435 shares of the company’s stock valued at $140,255,000 after purchasing an additional 9,162,371 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Credo Technology Group in the 1st quarter valued at about $125,306,000. Vanguard Group Inc. lifted its holdings in shares of Credo Technology Group by 263.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,940,826 shares of the company’s stock valued at $76,349,000 after acquiring an additional 5,029,051 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Credo Technology Group by 102.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,351,586 shares of the company’s stock valued at $127,477,000 after acquiring an additional 3,721,248 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Credo Technology Group in the 1st quarter valued at about $29,508,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CRDO shares. Stifel Nicolaus upped their price objective on Credo Technology Group from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 30th. TD Cowen upped their price objective on Credo Technology Group from $20.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Needham & Company LLC upped their price objective on Credo Technology Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Mizuho reiterated a “buy” rating and issued a $30.00 price target (up previously from $28.00) on shares of Credo Technology Group in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their price target on Credo Technology Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Credo Technology Group Company Profile

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.