Daniel Fleming Sells 7,580 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CFO Daniel Fleming sold 7,580 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the completion of the sale, the chief financial officer owned 504,708 shares of the company’s stock, valued at approximately $124,097,603.04. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Credo Technology Group Stock Down 0.3%

CRDO stock opened at $236.18 on Wednesday. The firm has a market cap of $44.04 billion, a PE ratio of 95.23, a P/E/G ratio of 1.08 and a beta of 3.20. The business has a 50 day moving average of $230.86 and a 200-day moving average of $165.90. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.14. The business had revenue of $437.00 million for the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business’s revenue was up 157.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. On average, research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Key Stories Impacting Credo Technology Group

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo continues to benefit from strong investor enthusiasm around its AI connectivity business, with recent coverage calling it a leading play in copper and optical networking. The stock has also attracted bullish analyst attention, including multiple buy ratings and elevated price targets. Article Title
• Positive Sentiment: Recent earnings results were solid: Credo beat expectations on both EPS and revenue, and revenue surged 157% year over year, reinforcing the company’s growth narrative. Article Title
• Neutral Sentiment: CFO Daniel Fleming sold 7,580 shares in a pre-arranged Rule 10b5-1 plan. While the sale was small relative to his holdings, insider selling can still weigh on sentiment. Article Title
• Negative Sentiment: One article linked the stock’s weakness to renewed U.S.-Iran tensions, suggesting broader market risk aversion helped pull CRDO down alongside other growth names. Article Title

Institutional Trading of Credo Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Crewe Advisors LLC boosted its holdings in Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after buying an additional 106 shares during the period. Reflection Asset Management purchased a new stake in shares of Credo Technology Group during the fourth quarter worth $25,000. Acumen Wealth Advisors LLC bought a new position in shares of Credo Technology Group in the fourth quarter worth $25,000. Flagship Harbor Advisors LLC purchased a new position in shares of Credo Technology Group in the fourth quarter valued at $32,000. Finally, AlphaCentric Advisors LLC purchased a new position in shares of Credo Technology Group in the first quarter valued at $33,000. Institutional investors own 80.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CRDO shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Bank of America increased their target price on shares of Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Susquehanna raised their price target on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their price target on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Finally, Rothschild & Co Redburn began coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group presently has an average rating of “Buy” and a consensus target price of $263.11.

About Credo Technology Group

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.