Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) COO Yat Tung Lam sold 10,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $80.59, for a total transaction of $805,900.00. Following the sale, the chief operating officer now directly owns 2,825,621 shares in the company, valued at approximately $227,716,796.39. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Yat Tung Lam also recently made the following trade(s):
Credo Technology Group stock traded down $1.32 during midday trading on Thursday, hitting $84.18. 3,276,256 shares of the company were exchanged, compared to its average volume of 4,384,490. The company's fifty day moving average price is $65.04 and its 200-day moving average price is $44.15. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69. The company has a market cap of $14.08 billion, a PE ratio of -561.20 and a beta of 2.11.
Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in Credo Technology Group in the third quarter valued at $3,948,000. Wellington Management Group LLP increased its position in shares of Credo Technology Group by 32.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company's stock worth $88,188,000 after purchasing an additional 705,512 shares during the last quarter. Centiva Capital LP bought a new position in shares of Credo Technology Group during the third quarter worth about $553,000. Charles Schwab Investment Management Inc. grew its stake in Credo Technology Group by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company's stock worth $35,006,000 after purchasing an additional 95,335 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Credo Technology Group by 94.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company's stock valued at $7,507,000 after buying an additional 118,169 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.
A number of equities research analysts have weighed in on the stock. Susquehanna initiated coverage on shares of Credo Technology Group in a research report on Tuesday, December 17th. They set a "neutral" rating and a $80.00 price target for the company. The Goldman Sachs Group lifted their target price on Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, January 10th. TD Cowen raised their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Barclays boosted their price objective on Credo Technology Group from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Needham & Company LLC boosted their target price on Credo Technology Group from $43.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $76.40.
Check Out Our Latest Research Report on Credo Technology Group
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.
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