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

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 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 available at 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 stock was sold at an average price of $22.58, for a total value of $3,473,368.50.
• On Monday, March 25th, Yat Tung Lam sold 94,329 shares of Credo Technology Group stock. The stock was 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 stock was 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 stock was 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 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 stock was 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 stock was 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.

Credo Technology Group Trading Down 9.3 %

Shares of NASDAQ:CRDO opened at $19.44 on Tuesday. Credo Technology Group Holding Ltd has a 12-month low of $7.20 and a 12-month high of $23.90. The company has a market cap of $3.17 billion, a PE ratio of -84.52 and a beta of 1.97. The stock has a 50 day moving average of $21.53 and a 200 day moving average of $19.16.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly 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. Credo Technology Group had a negative return on equity of 7.82% and a negative net margin of 20.59%. The business had revenue of $53.06 million during the quarter, compared to the consensus estimate of $51.91 million. During the same period in the prior year, the company posted $0.02 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts predict that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada bought a new position in Credo Technology Group in the 1st quarter worth approximately $26,000. Ameritas Investment Partners Inc. bought a new position in Credo Technology Group in the 1st quarter worth approximately $26,000. Advisors Asset Management Inc. boosted its stake in Credo Technology Group by 295.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,841 shares of the company’s stock worth $28,000 after purchasing an additional 1,376 shares during the period. KBC Group NV bought a new position in Credo Technology Group in the 4th quarter worth approximately $43,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $40,000. 80.46% of the stock is currently owned by institutional investors.

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.