Credo Technology Group Holding Ltd (NASDAQ:CRDO - Get Free Report) COO Yat Tung Lam sold 10,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $22.12, for a total value of $221,200.00. Following the transaction, the chief operating officer now owns 3,153,738 shares of the company's stock, valued at $69,760,684.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were 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 shares were 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 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 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.
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NASDAQ:CRDO opened at $19.44 on Tuesday. Credo Technology Group Holding Ltd has a 52 week low of $7.20 and a 52 week high of $23.90. The company has a market capitalization of $3.17 billion, a P/E ratio of -84.52 and a beta of 1.97. The stock's fifty day moving average is $21.53 and its two-hundred day moving average is $19.16.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $53.06 million for the quarter, compared to the consensus estimate of $51.91 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The company's revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that Credo Technology Group Holding Ltd will post -0.12 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Credo Technology Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Credo Technology Group by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 13,991,480 shares of the company's stock valued at $272,414,000 after purchasing an additional 1,420,664 shares during the period. BlackRock Inc. raised its holdings in shares of Credo Technology Group by 255.4% in the 3rd quarter. BlackRock Inc. now owns 12,750,435 shares of the company's stock valued at $140,255,000 after buying an additional 9,162,371 shares during the period. Capital Research Global Investors acquired a new position in Credo Technology Group during the 1st quarter worth about $125,306,000. JPMorgan Chase & Co. lifted its stake in Credo Technology Group by 17.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,651,186 shares of the company's stock worth $131,931,000 after acquiring an additional 1,299,600 shares in the last quarter. Finally, State Street Corp lifted its stake in Credo Technology Group by 60.4% during the 1st quarter. State Street Corp now owns 6,322,804 shares of the company's stock worth $59,561,000 after acquiring an additional 2,381,087 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Mizuho reaffirmed a "buy" rating and issued a $30.00 price target (up from $28.00) on shares of Credo Technology Group in a research note on Wednesday, February 28th. Craig Hallum lifted their price target on Credo Technology Group from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday. TD Cowen lifted their price target 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 boosted 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. Finally, The Goldman Sachs Group boosted their price objective 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.25.
Check Out Our Latest Report on Credo Technology Group
Credo Technology Group Company Profile
(
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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