Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) COO Yat Tung Lam sold 5,000 shares of the company's stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief operating officer now owns 3,133,888 shares of the company's stock, valued at $47,008,320. The sale 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):

• On Monday, December 12th, Yat Tung Lam sold 1,349 shares of Credo Technology Group stock. The shares were sold at an average price of $15.01, for a total transaction of $20,248.49.
• On Thursday, December 8th, Yat Tung Lam sold 5,000 shares of Credo Technology Group stock. The shares were sold at an average price of $15.02, for a total transaction of $75,100.00.
• On Monday, November 7th, Yat Tung Lam sold 110,352 shares of Credo Technology Group stock. The shares were sold at an average price of $13.50, for a total transaction of $1,489,752.00.

Credo Technology Group Price Performance

CRDO opened at $15.00 on Friday. The stock has a market capitalization of $2.20 billion and a PE ratio of -250.00. The firm's fifty day moving average price is $14.00 and its 200 day moving average price is $13.30. Credo Technology Group Holding Ltd has a 12-month low of $8.61 and a 12-month high of $18.00.

Analyst Ratings Changes

Separately, Needham & Company LLC upped their target price on shares of Credo Technology Group from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, December 1st. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Credo Technology Group presently has a consensus rating of "Buy" and an average target price of $19.38.

Institutional Trading of Credo Technology Group

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. acquired a new stake in shares of Credo Technology Group during the first quarter worth $332,000. JPMorgan Chase & Co. acquired a new stake in shares of Credo Technology Group during the first quarter worth $205,000. Bank of New York Mellon Corp acquired a new stake in shares of Credo Technology Group during the first quarter worth $1,748,000. BlackRock Inc. acquired a new stake in shares of Credo Technology Group during the first quarter worth $48,844,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Credo Technology Group during the first quarter worth $29,191,000. 40.46% of the stock is owned by institutional investors and hedge funds.

About Credo Technology Group

(Get Rating)

Credo 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 integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.

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